‎Raydan Food shareholders discharge board members, reject board remuneration

Raydan Food Co. said its shareholders approved discharging the board members from liability for the year ended Dec. 31, 2025, during the ordinary general meeting (OGM) held on June 30.

Shareholders also approved the auditor’s report for 2025 after discussing it.

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They also ratified the board’s decision to appoint Ghassan Naseef as an independent board member, effective Feb. 17, 2026, until the end of the current board term on May 19, 2029, replacing Abdullah Al-Duraish.

Shareholders also approved the appointment of PKF Al Bassam Chartered Accountants and Auditors as the company’s external auditor, based on the recommendation of the audit committee.

The auditor will review and audit the financial statements for Q2, Q3 and the annual financial statements for 2026, as well as the Q1 financial statements for 2027, for total fees of SAR 595,000.

Meanwhile, shareholders rejected the payment of SAR 1.28 million in board remuneration for April 21-Dec. 31, 2025. They also rejected the payment of SAR 678,470 in board remuneration for Jan. 1-May 20, 2026.

Raydan Food Co. said its shareholders approved discharging the board members from liability for the year ended Dec. 31, 2025, during the ordinary general meeting (OGM) held on June 30.

Shareholders also approved the auditor’s report for 2025 after discussing it.

They also ratified the board’s decision to appoint Ghassan Naseef as an independent board member, effective Feb. 17, 2026, until the end of the current board term on May 19, 2029, replacing Abdullah Al-Duraish.

Shareholders also approved the appointment of PKF Al Bassam Chartered Accountants and Auditors as the company’s external auditor, based on the recommendation of the audit committee.

The auditor will review and audit the financial statements for Q2, Q3 and the annual financial statements for 2026, as well as the Q1 financial statements for 2027, for total fees of SAR 595,000.

Meanwhile, shareholders rejected the payment of SAR 1.28 million in board remuneration for April 21-Dec. 31, 2025. They also rejected the payment of SAR 678,470 in board remuneration for Jan. 1-May 20, 2026.