Riyadh – Mubasher: Horizon Food Company successfully convened its Ordinary General Assembly Meeting on 2 June 2026, which represented the first assembly for this session.
The shareholders reviewed the company’s operational and financial performance for the 2025 fiscal year, resulting in the endorsement of financial reports, the appointment of new external auditors, and the approval of board remuneration for two consecutive fiscal years.
The meeting was presided over by Chairman Yousef bin Abdullah bin Abdulaziz Al Rajhi, with the presence of Vice Chairman Ahmed bin Mohammed bin Hussein Al Arfaj and other board members, including Abdulmajid bin Mohammed bin Ibrahim Al Rashoudi, who also serves as the Audit Committee Chairman, Abdulaziz bin Mohammed Al Babtain, and Meshal bin Malhi bin Abdullah Al Arifi.
Central to the agenda was the review of the company's financial health and operational transparency. Shareholders formally reviewed and discussed the Board of Directors’ report and the company’s financial statements for the 2025 fiscal year.
Following these discussions, the assembly approved the external auditor’s report for the same period. In a move to ensure continued fiscal oversight, the shareholders approved the appointment of Maham Consulting for Technical Consultancy to serve as the company's auditor.
Maham Consulting was selected from among the candidates to review and audit the financial statements for the second, third, and annual periods of the 2026 fiscal year, as well as the first quarter (Q1) of 2027.
Meanwhile, the total fees for these professional services by Maham Consulting were set at SAR 330,000.
Beyond financial reporting, the assembly addressed governance and internal oversight. Shareholders voted in favor of the policies and procedures governing the work of the Board of Directors and its various sub-committees, reinforcing the company’s commitment to structured management.
Furthermore, the meeting concluded with the approval of financial rewards for the board’s service. A total of SAR 625,000 was approved as remuneration for the 2024 fiscal year.
Additionally, shareholders sanctioned a payment of SAR 550,000 for the board’s efforts during 2025 fiscal year.
These approvals reflect the company’s adherence to transparency regarding executive and director compensation as it continues its operations with a capital base of SAR 80 million.
Moreover, the endorsement of the 2025 financial results and the proactive appointment of auditors for the 2026 and 2027 periods signal a commitment to regulatory compliance and long-term financial planning. By securing shareholder approval for both past performance reports and future governance frameworks, Horizon Food maintains its administrative continuity and provides clarity to its investors regarding its fiscal management and leadership compensation structures.
