Riyadh – Mubasher: Molan Steel Company announced that its ordinary general assembly approved the appointment of Al Zoman, Al Fahad & Al Hajjaj for Professional Consulting as the company’s external auditor.

The firm will audit the semi-annual and annual financial statements for the 2026 fiscal year for a total fee of SAR 260,000.

Molan Steel noted that the auditor’s fee is divided into SAR 200,000 for the annual audit and SAR 60,000 for the semi-annual review.

The meeting, held on 30 June 2026, also saw shareholders authorize the board of directors to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.

Additionally, the assembly ratified the board’s decision to appoint Majed Ibrahim Al Odaibi as a board member effective 9 April 2026 to complete the current term ending 10 July 2027.

Other agenda items approved during the session included the board and auditor reports for the 2025 fiscal year and the discharge of board members from liability for the same period.