Riyadh – Mubasher: Aljouf Mineral Water Bottling Company, operating under the popular consumer brand name Hilwa Water, has announced the invitation of its shareholders to attend the Ordinary General Assembly Meeting, scheduled to take place on 30 June 2026.
The meeting, which represents the first assembly session, will be conducted via modern technological means, allowing for remote participation and voting.
According to the company’s disclosure on the Saudi Exchange (Tadawul), the assembly’s agenda is centered on the review and approval of the company’s performance for the 2025 fiscal year.
Shareholders will be asked to discuss and vote on the annual financial statements, the board of directors’ report, and the external auditor’s report for the 2025 period.
Furthermore, the meeting will include a vote on discharging the members of the board of directors from liability for their management during the 2025 fiscal year.
A significant item on the agenda involves the approval of related party transactions. Shareholders will vote on contracts and business dealings conducted between the company and the Chairman of the Board, Ashry Saad Al Ashry. These dealings involve interest-free financing provided to the company, which is repayable upon demand. The total value of these transactions is cited at SAR 17.72 million, while the outstanding credit balance due to the Chairman for the year 2025 reached SAR 29.67 million.
In addition to retrospective reviews, the assembly will address future governance through the appointment of an external auditor. Based on the Audit Committee’s recommendation, shareholders will vote to select an auditor from among the candidates to examine and audit the semi-annual and annual financial statements for the 2026 fiscal year, as well as determine the associated fees.
Regarding the logistics of the meeting, the company clarified that the right to attend and vote is reserved for shareholders registered in the issuer’s registry at the Securities Depository Center (Edaa) by the end of the trading session immediately preceding the assembly.
For the meeting to be considered legally valid, a quorum of shareholders representing at least 25% of the company’s capital must be present. Should this quorum not be met in the first instance, a second meeting will be held one hour after the expiration of the time set for the first. This second meeting will be deemed valid regardless of the number of shares represented.
Electronic voting will be facilitated through the Tadawulaty service, beginning at 01:00 on 27 June 2026, and continuing until the conclusion of the assembly.
The company has emphasized that registration and voting on the platform are free for all shareholders. This digital approach aligns with regulatory frameworks designed to enhance shareholder engagement and transparency within the Saudi capital market.
The upcoming assembly serves as a critical platform for shareholders to exercise their oversight rights, engage directly with the board of directors, and influence the company’s financial and administrative trajectory for the 2026 fiscal year.
