Almujtama Medical to elect new board upon late-July meeting
ALMUJTAMA MEDICAL
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Riyadh – Mubasher: Almujtama Alraida Medical Company has invited its shareholders to the Ordinary General Assembly Meeting (OGM) First Meeting that is scheduled for 26 July 2026, according to a bourse filing.
The meeting will be conducted via modern technological means and is primarily focused on the election of the company’s Board of Directors for a new four-year term.
This new board term is slated to begin on 1 August 2026 and will conclude on 31 July 2030.
According to the regulatory filing, shareholders registered in the issuer’s registry at the Securities Depository Center (Edaa) by the end of the trading session preceding the meeting are eligible to attend and vote.
The company noted that the legal quorum required for a valid meeting is the attendance of shareholders representing at least twenty-five percent of the voting shares.
Should this quorum not be met in the first instance, a second meeting will be held one hour after the scheduled time for the first, which will be considered valid regardless of the number of shares represented.
The central item on the meeting’s agenda is the election of board members from among 29 candidates for the upcoming session.
The list of candidates includes a diverse range of professionals with expertise in finance, healthcare, law, and corporate governance.
Notable candidates include:
Al Hassan Mustafa Abualruz, currently the Chief Internal Audit Officer at Alkhorayef Water and Power Technologie.
Hamad bin Hamdan Al-Sarie, CEO of United Mining Industries.
Abdulelah Mohammed Al Tunisi, Executive Director of Finance at Saudi Cargo.
The pool of nominees also features academic and legal experts such as:
Alaa Abdulaziz Al Dougan, Vice Dean at King Faisal University
Mohammed Abdulaziz Al Razuq, a legal consultant.
Several incumbent leaders are also seeking election, including the current Chairman, Omar Yousef Khoja, and CEO Abdulaziz Omar Khoja.
In alignment with digital transformation initiatives in the Saudi capital market, Almujtama Medical confirmed that the meeting will be held exclusively through electronic platforms.
Consequently, proxy forms are not being provided; instead, the company urges all shareholders to utilize the Tadawulaty service for remote participation.
Electronic voting is scheduled to begin at 1:00 AM on 22 July and will remain open until the conclusion of the General Assembly.
Shareholders attending the virtual session will have the right to discuss the agenda items and direct questions to the board through the Tadawulaty platform.
The company has designated its shareholder relations department to handle inquiries via telephone and email to ensure transparency throughout the electoral process.
This transition to a new board term marks a significant governance milestone for the Jeddah-based medical firm, as it seeks to establish its leadership for the remainder of the decade. The results of the election will determine the strategic direction of the company as it navigates the retail and distribution sectors of the Saudi healthcare market.
In its 29 June 2026 general assembly, Almujtama Medical approved a cash dividend for the 2025 fiscal year and authorized the board to issue interim dividends for 2026.
Source: Mubasher Source: {{details.article.source}}