Riyadh – Mubasher: Mufeed Company concluded its Ordinary General Assembly meeting during which the shareholders approved the financial results for the 2025 fiscal year, according to a bourse filing.

Key resolutions passed during the meeting, held on 29 June 2026, included the discharge of board members from liability, the appointment of external auditors for the 2026 fiscal year, and the authorization for the board to distribute interim dividends.

A primary focus of the meeting was the review and approval of the 2025 financial performance. Shareholders formally approved the auditor’s report and discussed the board of directors' report and the company’s financial statements for the period.

Following these discussions, the assembly voted to discharge the members of the board of directors from their liabilities for 2025.

Looking forward to the current and upcoming financial periods, the assembly approved the appointment of Al-Sayed Al-Ayouty & Co. Certified Public Accountants as the company’s external auditor.

This appointment, based on a recommendation from the Audit Committee, tasks the firm with reviewing and auditing the semi-annual financial statements for the period ended on 30 June 2026, and the annual financial statements for 2026. The professional fees for these services were set at SAR 280,000.

In a move to enhance shareholder value and provide flexible capital returns, the assembly authorized the board of directors to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.

Furthermore, the board was granted the authority of the Ordinary General Assembly as stipulated in the Companies Law for a period of one year or until the end of the current board session, whichever occurs first.

The meeting also addressed related-party transactions and contracts involving members of the board.

Shareholders approved transactions with Chairman Nayef Awadh Al-Otaibi regarding "payments on behalf" initiated in 2023.

For the 2025 fiscal year, debit transactions totaled SAR 745,192.05 while credit transactions amounted to SAR 20,000.

Similarly, the assembly approved contracts with Vice Chairman and CEO Wafi Saeed Al Qahtani. These transactions, also categorized as "payments on behalf" starting in 2023, saw debit transactions of SAR 4.83 million and credit transactions of SAR 2.73 million during 2025.

The company emphasized that all such dealings were conducted under prevailing commercial terms without any preferential conditions.