| Element List | Explanation |
|---|---|
| Introduction | Dar Al Arkan Real Estate Development Company announces the results of the ordinary General Assembly meeting (the first meeting), which was held at 19:30 on Tuesday 23/06/2026 corresponding to 8/1/1448, using modern technology means through the Tadawulaty system at the company’s headquarters in Riyadh after the quorum was completed. |
| City and Location of the General Assembly's Meeting | Head Office of the company, 12622 Makkah Road, Al Wizarat, Beside Riyadh Marriott Hotel, Riyadh, KSA through modern technology. |
| Date of the General Assembly's Meeting | 2026-06-23 Corresponding to 1448-01-08 |
| Time of the General Assembly’s Meeting | 19:30 |
| Percentage of Attending Shareholders | 77.54 |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | The following all Board members attended the meeting: 1- Yousuf Abdullah Al Shelash (Chairman of the Board of Directors, Chairman of the Executive Committee, member of the Remuneration and Nominations Committee), who chaired the assembly meeting. 2- Hathloul Saleh AlHathloul (Vice Chairman of the Board of Directors, member of the Executive Committee, member of the Audit Committee) 3- Tariq Mohamed Al Jarallah (Chairman of the Audit Committee) 4- Ziad Naim ElChaar (member of the Executive Committee). 5- Abdulrahman Abdulaziz Almisned (Chairman of the Remuneration and Nominations Committee). 6- Saud Abdulaziz AlGusayer (member of the Audit Committee, member of the Remuneration and Nominations Committee). |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | 1- Yousuf Abdullah Al Shelash (Chairman of the Executive Committee). 2- Abdulrahman Abdulaziz Almisned (Chairman of the Remuneration and Nominations Committee) 3- Tariq Mohamed Al Jarallah (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. The Board of Directors' report for the fiscal year ending on 31/12/2025 was reviewed and discussed. 2. The Financial Statements for the fiscal year ending on 31/12/2025 were reviewed and discussed. 3. Approval of the External Auditor’s Report for the fiscal year ending on 31/12/2025 after discussing the report. 4. Approval of the appointment of the company’s external auditor M/s Turki Abdul Mohsen Alluhaid & Saleh Abdullah Al Yahya Chartered Accountants among the candidates based on the Audit Committee's recommendation. The appointed auditor shall examine, review and audit the second, third quarters and annual financial statements, of the fiscal year 2026, and the first quarter of the fiscal year 2027, and determine its fees with the amount of SAR 840,000 excluding VAT. 5. Approval of the transactions and contracts that will be concluded for the fiscal year ended 2026 between the Company and the SHL Finance Company, in which the chairman of the board Mr. Youssef bin Abdullah Al-Shalash (non-executive member) has an indirect interest in it, and Mr. Ziad Naim ElChaar (non-executive member) has an indirect interest in it. These businesses and contracts are financing some customers of Dar Al Arkan Company to purchase houses. During 2025, there were sales of SAR 2.3 million which were paid off by SHL Finance Company during the year and no outstanding balance to be paid or settled with this related party. These transactions are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. 6. Approval of the transactions and contracts that will be concluded for the fiscal year ended 2026 and between the Company and Dar Global PLC., in which the chairman of the board Mr. Youssef bin Abdullah Al-Shalash (non-executive member) has an indirect interest in it , and Mr. Ziad Naim ElChaar (non-executive member) has an indirect interest in it. These businesses and contracts are to provide financing facilities to Dar Global PLC. During 2025, the loan amounted to SAR 1,201 million, and the outstanding balance on December 31, 2025, amounted to SAR 1,201 million. These services are continuous, to be renewed annually, and carried out in the context of regular business and in accordance with the prevailing commercial terms and without any preferential conditions. 7. Approval of the Board of Directors’ Liability Discharge for the fiscal year ending on 31/12/2025. 8. Approval of disbursement of a total amount of (3.000.000) three million Saudi Riyal as remuneration to the Board members for the fiscal year ending on 31/12/2025. 9. Approval of delegating the Board of Directors to distribute interim dividends on a biannual/quarterly basis for the fiscal year ending on 31/12/2026. |
| Additional Information | For inquires, you can contact the company’s management through the following means of communication: phone number 00966112069888, Ext. 1641 or 1144, or via email ir@alarkan.com |
Dar Alarkan Real Estate Development Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
AI Summary
- Dar Al Arkan shareholders approved the FY 2025 financial statements, discharged board liability, and authorized a total board remuneration of SAR 3 million.
- The Board of Directors was delegated the authority to distribute interim dividends on a biannual or quarterly basis for the 2026 fiscal year.
- Shareholders approved the appointment of M/s Turki Abdul Mohsen Alluhaid & Saleh Abdullah Al Yahya as external auditors for 2026 and Q1 2027 for a fee of SAR 840,000.
- Related party transactions for 2026 were approved for SHL Finance Company and Dar Global PLC, the latter of which held an outstanding loan balance of SAR 1.201 billion at the end of 2025.
