Riyadh – Mubasher: Balsm Alofoq Medical Company has formally invited its shareholders to attend the Ordinary General Assembly Meeting (First Meeting) on 28 June 2026, according to a bourse filing.
The meeting, which will be conducted virtually through modern technology platforms, is set to address several key items including the review of the company’s 2025 financial performance and a proposal to grant the Board of Directors the authority to distribute interim dividends for the 2026 fiscal year.
A significant portion of the agenda is dedicated to the review and approval of the company’s activities during the fiscal year that ended on 31 December 2025. Shareholders will be asked to discuss and vote on the auditor’s report, the Board of Directors’ report, and the annual financial statements for that period.
Furthermore, the assembly will vote on the discharge of the Board of Directors from liability for their management during the 2025 fiscal year.
Looking toward future operations, the agenda includes a vote on the appointment of an external auditor from among candidates recommended by the Audit Committee. The selected firm will be tasked with examining and auditing the annual financial statements for the 2026 fiscal year, as well as the interim financial statements for the first half of 2027. Shareholders will also determine the auditor's remuneration during this process.
In a move that impacts shareholder returns, the Board of Directors is seeking authorization to distribute interim dividends on a quarterly or semi-annual basis for the 2026 fiscal year. This proposal, if approved, would provide the board with the flexibility to manage dividend payouts throughout the year rather than waiting for the annual cycle.
Earlier in 2026, the company entered into an agreement valued at SAR 71.80 million with the Royal Commission in Jubail.
