Riyadh - Mubasher: Arabian Contracting Services Company (Al Arabia) has announced the results of its Extraordinary General Meeting (EGM), held on 29 June 2026.
Shareholders approved a mandate authorizing the Board of Directors to distribute interim dividends for 2026 and sanctioned a comprehensive suite of amendments to the company’s Articles of Association.
The meeting, conducted via modern technology from the company’s headquarters in Riyadh, reached a legal quorum with 71.90% of share capital represented.
The assembly was presided over by Chairman Mohammed bin Abdulelah Al Khereiji, with the attendance of several board members and committee heads, including Vice Chairman Mohammed bin Abdullah Al Nimr and Audit Committee Chairman Walid Mohammed Al Bassam.
A primary outcome of the meeting was the approval of the board’s authorization to distribute interim dividends on a semi-annual or quarterly basis for 2026. This move provides the board with the flexibility to manage shareholder returns more frequently throughout the year.
Additionally, the assembly approved the Board of Directors’ report, the auditor’s report, and the financial statements for the fiscal year ending 31 December 2025.
Shareholders also ratified a total remuneration of SAR 681,507 for board members for 2025.
The assembly passed extensive amendments to the company’s Articles of Association, covering 19 different articles.
These modifications affect various governance and operational frameworks, including the company’s duration, share issuance and trading protocols, and the maintenance of the shareholders' register.
Governance-related updates were also approved regarding board membership termination, the filling of board vacancies, and the powers of the Chairman, Vice Chairman, Managing Director, and CEO.
Furthermore, the assembly updated the quorum requirements for both Board and General Assembly meetings and amended the procedures for drafting meeting minutes and forming the audit committee.
Significant attention was given to the ratification of related-party transactions and contracts executed during 2025. These agreements involved several entities where current or former board members hold indirect interests.
The largest of these transactions were conducted with Mawjat Al Asr for Advertising, involving purchases totaling SAR 317.09 million and revenues of SAR 76.56 million These contracts were noted for having an indirect interest for Chairman Mohammed Al Khereiji due to his role at Faden Advertising Agency, a subsidiary of Al Arabia.
Al Arabia recently signed multiple contracts with Cluster 2 Airports Company to manage advertising opportunities across 18 airports in the kingdom.
