| Element List | Explanation |
|---|---|
| Introduction | Service Equipment Company announces the results of the Ordinary General Assembly Meeting (First Meeting), which was held at 7:00 p.m. on Wednesday, 09/01/1448 AH, corresponding to 24/06/2026, through modern technology means. |
| City and Location of the General Assembly's Meeting | The Ordinary General Assembly Meeting was held at the Company's headquarters in Jeddah through modern technology means. |
| Date of the General Assembly's Meeting | 2026-06-24 Corresponding to 1448-01-09 |
| Time of the General Assembly’s Meeting | 19:00 |
| Percentage of Attending Shareholders | 77% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | All Board members attended the meeting: Mr. Ahmed Omar A. Balubaid (Chairman) Mr. Majed Ahmed O. Balubaid Board Member (Vice Chairman, CEO) Mr. Mohammed Hashim B. Al-Haj – Board Member Mr. Ahmed Mahmoud A. Zahran - Board Member Mr. Bassam Ali Al-Dhabi Board Member |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Mr. Alaeddin Saeed Warrad (Chairman of the Audit Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | Attached |
| Attached Documents | Attached Documents |
Service Equipment Co. Announces the Results of the Ordinary General Assembly Meeting (First Meeting)
AI Summary
- Shareholders approved the financial statements, Board report, and auditor's report for the fiscal year ended December 31, 2025, during the Ordinary General Assembly held on June 24, 2026.
- Approved the disbursement of SAR 369,750 in Board remuneration for FY 2025 and authorized the Board to distribute interim dividends for FY 2026 on a semi-annual or quarterly basis.
- Appointed RSM as the external auditor for the 2026 fiscal year with a total fee of SAR 220,000 and ratified the appointment of Mr. Bassam Ali Al-Dhabi to the Board of Directors.
- Ratified several business contracts and transactions with related parties, including Balubaid Holding Group and Omar A. Balubaid Company, for services such as site rentals, equipment purchases, and maintenance totaling over SAR 2.5 million.
Attachments
