Riyadh – Mubasher: Basma Adeem Medical Company, known on the Saudi Exchange as Smile Care, has announced the successful conclusion of its Extraordinary General Assembly Meeting (EGM) held on 25 June 2026, during which the shareholders ratifies several decisions.
The equityholders reviewed the company’s financial performance for the 2025 fiscal year, approved the appointment of external auditors for the upcoming cycle, and authorized the establishment of a new employee stock program.
The meeting underscored the company's commitment to corporate governance and long-term strategic planning.
A primary focus of the assembly was the formal review and discussion of the Board of Directors' report and the financial statements for 2025.
Following these discussions, shareholders officially approved the auditor’s report for the same period. In a standard procedural move reflecting shareholder confidence, the assembly voted to discharge the members of the Board of Directors from liability regarding their management of the company during the 2025 fiscal year.
Regarding future financial oversight, the assembly approved the appointment of RSM Allied Accountants Professional Services. The firm will be responsible for examining and auditing the company’s semi-annual and annual financial statements for 2026. The total fees for these professional services were set at SAR 215,000.
Remuneration matters were also addressed, with shareholders approving a total of SAR 430,000 to be distributed as bonuses and attendance allowances for Board members for the 2025 fiscal year. This allocation recognizes the board's oversight during the previous reporting period.
In a move aimed at aligning staff interests with corporate performance, the assembly approved the launch of a company employee stock program.
The Board of Directors has been delegated the authority to determine the specific terms and conditions of this program, ensuring compliance with relevant laws and regulations.
Furthermore, the Board was granted the authority of the Ordinary General Assembly to issue licenses under Paragraph 1 of Article 27 of the Companies Law. This authorization is valid for one year from the date of approval or until the end of the current Board session, whichever comes first, in accordance with the Executive Regulations of the Companies Law for Listed Joint Stock Companies.
The meeting also saw participation from the heads of various internal committees, including Audit Committee Chairman Musab Khalid Al-Hadlaq, ensuring that all regulatory and oversight functions were represented during the voting process.
