Riyadh – Mubasher: Ash-Sharqiyah Development Company has concluded its Ordinary General Assembly meeting (OGM) that was held on 30 June 2026, where the session resulted in the ratification of several key resolutions.
The shareholders approved financial reports for 2025 and formally reviewed and discussed the Board of Directors’ report for that period, according to a bourse filing.
Additionally, the assembly ratified the external auditor’s report for the 2025 fiscal year.
Such reviews are standard components of corporate governance, providing shareholders with a comprehensive overview of the company’s operational and financial standing.
In a significant move regarding future financial oversight, the General Assembly approved the selection of Professional Consultants (Al-Mustasharoon Al-Mehaniyoon) as the company’s external auditor. This selection was made based on a recommendation from the Audit Committee.
The appointed firm will be responsible for examining and auditing the financial statements for the second quarter (Q2) and Q3 of 2026, the full-year 2026 financial results, and Q1-27. The total fees for these auditing services were set at SAR 600,000.
Furthermore, the shareholders approved the distribution of remuneration to the members of the Board of Directors. A total sum of SAR 1 million was allocated as compensation for their services during 2025. This resolution aligns with the company’s internal policies regarding board compensation and reflects the administrative oversight provided throughout the preceding year.
The successful convening of this assembly ensures that the company remains in compliance with regulatory frameworks regarding shareholder engagement and financial transparency.
By securing approval for both past financial records and future auditing mandates, the company maintains its administrative continuity as it moves through the 2026 fiscal year.
Meanwhile, the resolutions passed during this meeting provide a clear mandate for the board and executive management to continue their oversight of the company’s strategic objectives within the Saudi agricultural and development sectors.
