Riyadh – Mubasher: Theeb Rent a Car Company’s shareholders approved the financial results for the 2025 fiscal year and authorized the Board of Directors to distribute interim dividends for 2026.
The Ordinary General Meeting took place on 8 June 2026 and saw the appointment of Ernst and Young as the external auditor and the approval of board remunerations totaling SAR 1.20 million, according to a bourse filing.
During the meeting, shareholders reviewed and discussed the board of directors report for the fiscal year ending December 31, 2025.
This was followed by the formal approval of the consolidated financial statements and the external auditor report for the same period.
As part of the standard annual governance procedures, the assembly also voted to discharge the members of the Board of Directors from liability for their management during the 2025 fiscal year.
A significant item on the agenda was the appointment of an external auditor. Based on the recommendation of the Audit Committee, shareholders approved the selection of Ernst and Young Professional Services to audit the company financial records. The scope of this appointment covers the second and third quarters of 2026, the full-year 2026 financial statements, and the first quarter of 2027. The agreed-upon professional fees for these services were set at SAR 955,000 excluding value-added tax (VAT).
Furthermore, shareholders voted in favor of amending the company remuneration policy to align with updated corporate requirements.
The assembly also addressed future shareholder returns by authorizing the Board of Directors to distribute interim dividends for the 2026 fiscal year. This authorization allows the board to issue dividends on either a quarterly or semi-annual basis, providing the company with the flexibility to manage its capital distribution in accordance with its financial performance throughout the year.
Additionally, the board was granted authorization under Article 27 of the Companies Law. This mandate, which is valid for one year from the date of approval or until the end of the current board term, whichever comes first, allows the board to exercise the powers of the Ordinary General Assembly as specified in the law and its executive regulations for listed joint-stock companies.
