Riyadh – Mubasher: MOBI Industry Company has announced the conclusion of its Ordinary General Assembly Meeting held on 25 June 2026, during which the shareholders reviewed the financial performance for 2025, besides taking other decisions.
The equityholders granted the Board of Directors the authority to distribute interim dividends for the upcoming 2026 and 2027 fiscal periods, according to a bourse filing.
A primary focus of the meeting was the formal review and discussion of the company’s financial standing.
Shareholders officially reviewed the financial statements and the Board of Directors’ report for the fiscal year ended on 31 December 2025.
Following these discussions, the assembly approved the auditor’s report for the same period and voted to discharge the members of the Board of Directors from liability for their management during the 2025 fiscal year.
In a move aimed at providing flexibility in capital returns to investors, the assembly approved two separate resolutions regarding dividend distributions.
The Board of Directors has been authorized to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year.
Furthermore, a similar mandate was granted for the 2027 fiscal year, allowing the board to determine the timing and magnitude of payouts in accordance with the company’s financial position and regulatory requirements.
The assembly also addressed statutory compliance and external oversight. Shareholders approved the appointment of Al Luhaid & Al Yahya as the company’s external auditors, based on a recommendation from the Audit Committee.
The firm will be responsible for examining and auditing the financial statements for the second, third, and annual periods of the 2026 fiscal year, as well as the first quarter of 2027. The total professional fees for these services were set at SAR 430,000.
Furthermore, the shareholders approved the delegation of the General Assembly’s powers to the Board of Directors regarding the licensing requirements stipulated in Paragraph 1 of Article 27 of the Companies Law. This authorization is valid for one year from the date of the assembly’s approval or until the end of the current board’s term, whichever occurs first. This measure ensures that the company remains compliant with the executive regulations of the Companies Law for Listed Joint Stock Companies while maintaining operational efficiency.
The meeting concluded with all items on the agenda receiving the necessary shareholder support, marking a transition into the next phase of the company's financial and operational calendar.
