Riyadh — Mubasher: Riyal Investment and Development Company’s shareholders approved an amendment to the company’s bylaws during an extraordinary general assembly meeting held on 13 September 2026.
The resolution specifically targeted Article 15, which governs the management of the company.
The meeting, conducted via modern technology from the company's headquarters in Dammam, recorded a shareholder attendance rate of 63.34%.
The proposal to amend the management-related article received significant support, with 93.75% of the votes cast in favor of the change.
According to the regulatory filing, 2.89% of the votes were against the motion, while 3.34% of the votes were abstentions.
The assembly was attended by board members including Chairman Tariq bin Abdulhadi Al Qahtani and Vice Chairman Salah bin Abdulhadi Al Qahtani.
Khalid bin Nasser Al Muammar, who serves as the Chairman of the Audit Committee, was also present.
The company confirmed that the voting process was conducted through the Tadawulaty system.
At the end of June 2026, the company’s net profits after tax and Zakat fell to SAR 794,214 from SAR 5.47 million a year earlier.
