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Jahez OGM approves SAR 1.5m remuneration disbursement

29 Jun 2026, 16:10

Riyadh - Mubasher: Jahez International Company for Information Systems Technology has announced the results of its Ordinary General Meeting (OGM), held on 28 June 2026.

During the session, shareholders representing 54.26% of the company’s capital approved several key resolutions, including the disbursement of board remunerations totaling SAR 1.56 million and the appointment of KPMG as the external auditor for the upcoming fiscal periods.

The meeting, which was conducted via modern technology from the company’s headquarters in Riyadh, also saw the ratification of financial statements and the approval of a board member’s participation in a competing business.

The assembly, chaired by His Royal Highness Prince Meshal bin Sultan bin Abdulaziz Al Saud, reviewed and discussed the board of directors' report and the company’s financial statements for the fiscal year ending 31 December 2025.

Following these discussions, shareholders officially approved the auditor’s report for the same period. The meeting was attended by several high-ranking board members, including Vice Chairman Abdulaziz bin Abdulrahman Al Omran and board members Ghassab bin Salman bin Ghassab bin Mandeel and Hamad bin Abdullah bin Fahad Al Bakr.

A significant portion of the agenda focused on corporate governance and financial oversight. Shareholders approved the appointment of KPMG Professional Consulting as the company’s external auditor, following a recommendation from the Audit Committee.

Under the terms of the agreement, KPMG will be responsible for examining and auditing the financial statements for the second, third, and annual quarters of 2026, as well as the first quarter (Q1) of 2027. The total fees for these professional services were set at SAR 1.475 million.

In terms of board compensation, the assembly authorized the payment of 1.56 million Saudi riyals as remuneration for the board of directors for their services during the fiscal year ended 31 December 2025.

Furthermore, the shareholders granted the board of directors the authority of the General Assembly as stipulated in 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 regulatory requirements for listed joint-stock companies.

The assembly also addressed potential conflicts of interest by approving the participation of board member Abdulaziz Al Omran in a business that competes with the company’s activities. This resolution ensures compliance with local regulatory frameworks regarding board members' external business engagements.

Jahez, which operates with a total capital of SAR 104.91 million, confirmed that the meeting met the legal quorum requirements. While several board members were present, apologies for absence were received from Loulwa bint Mohammed bin Abdulkarim Bakr and Salman bin Abdulmohsen bin Mohammed Al Sudairi.

The meeting concluded with the formal recording of all voting results, reinforcing the company's commitment to transparency and regulatory adherence within the Saudi capital market.

Earlier this month, the listed company relocated its corporate headquarters within Riyadh.

Source: Mubasher Source: {{details.article.source}}