Riyadh – Mubasher: AFG International Company (Cenomi Retail) announced that its extraordinary general meeting (EGM), held on 30 June 2026, approved a major shareholder loan agreement with Al Futtaim Private Co. LLC valued at SAR 1.35 billion.
The loan carries a five-year term and was approved alongside related interest expenses of 28,476,561 SAR for the fiscal year ended 31 December 2025.
The assembly, which saw a 64.09% attendance rate, ratified several related-party transactions, including lease payments to Arabian Centres Company (Cenomi Centers) amounting to SAR 183.23 million.
Shareholders also approved the appointment of PricewaterhouseCoopers (PWC) as the company’s auditor for the 2026 fiscal year and the first quarter (Q1) of 2027, with fees set at SAR 4.26 million.
A new board of directors was elected for a four-year term beginning 12 August 2026 and ending 11 August 2030. The elected members include Hussain Ali Shobokshi, Ahmed Wasim Al Arabi, and Abu Bakr Abdullah Al Futtaim, among others.
Additionally, the assembly approved SAR 1.50 million board remuneration for 2025 and authorized various amendments to the company’s bylaws and internal committee regulations.
In the first quarter (Q1) of 2026, Cenomi Retail suffered net losses valued at SAR 47.80 million, against net profits of SAR 1.80 million in Q1-25.
