Riyadh – Mubasher: Shmoh Almadi Company has announced the results of its Ordinary General Assembly meeting held on 11 June 2026, where shareholders approved several key resolutions aimed at streamlining financial distributions and ratifying corporate governance measures.
During the proceedings, shareholders reviewed and approved the auditor’s report, the Board of Directors’ report, and the financial statements for the 2025 fiscal year, according to a bourse filing.
Following these reviews, the assembly voted to discharge the Board members from liability for their management during the 2025 fiscal period.
In a move to ensure continued financial oversight, the assembly appointed Maham Professional Consulting as the company’s external auditor. The firm will be responsible for reviewing and auditing the annual financial statements for 2026 and the interim statements for the first half (H1) of 2027, with a total fee set at SAR 295,000.
A significant outcome of the meeting was the approval to delegate the Board of Directors the authority to distribute interim dividends to shareholders on a quarterly or semi-annual basis for the 2026 fiscal year. This mandate provides the company with the flexibility to manage its capital returns in alignment with its financial performance throughout the year.
Additionally, the assembly granted the Board the powers stipulated in Article 27 of the Companies Law for a period of one year or until the end of the current Board term, whichever comes first.
The assembly also ratified several contracts and business dealings involving Chairman Thani Abdulaziz Al Ahmed. These included transactions with Al Mazaq Al Mutakamel for the sale of company products, which saw transactions totaling SAR 14.89 million during 2025, leaving a final balance of SAR 4.89 million.
Other approved dealings included contracts with Performance Solutions for machinery and spare parts, and Masader Al Ibtikar for packaging materials.
Furthermore, a direct transaction with the Chairman for the purchase of a used vehicle and certain withdrawals totaling SAR 15,000 was approved.
The company confirmed that all related party transactions were conducted within the normal course of business and adhered to prevailing commercial terms without any preferential treatment.
The high level of shareholder participation and the broad approval of the agenda items underscore a period of stability for Shmoh Almadi as it moves into the next phase of its 2026 fiscal strategy.
By securing mandates for interim dividends and renewing its audit appointments, the company has established a clear framework for its financial governance and shareholder engagement for the upcoming year.
