AFG International said the five-year shareholder loan was granted on commercial terms with no preferential conditions
Shareholders of AFG International Co. (Cenomi Retail) approved a SAR 1.35 billion shareholder loan agreement with Al-Futtaim Private Co. during the extraordinary general meeting (EGM) held on June 30. 
According to a Tadawul statement, the five-year loan was granted on commercial terms with no preferential conditions.
Shareholders also approved the SAR 28.5 million interest expense related to the loan for 2025.
In addition, they greenlit guarantee fees paid to Al-Futtaim Private related to the company’s loan from Emirates NBD. The three-year guarantee arrangement amounted to SAR 16.9 million for 2025.
Shareholders elected the board of directors for a four-year term starting Aug. 12, 2026. The elected members are: Ismail Al-Khatib, Russell Rodrigues, Ahmed Al-Arabi, Abubaker Al-Futtaim, Hussein Shabkshi, Majed Najm, Hamad Al-Surai, Tarek Tantawy, and John Ring.
The company added that shareholders approved all remaining agenda items.
AFG International said the five-year shareholder loan was granted on commercial terms with no preferential conditions
Shareholders of AFG International Co. (Cenomi Retail) approved a SAR 1.35 billion shareholder loan agreement with Al-Futtaim Private Co. during the extraordinary general meeting (EGM) held on June 30.
According to a Tadawul statement, the five-year loan was granted on commercial terms with no preferential conditions.
Shareholders also approved the SAR 28.5 million interest expense related to the loan for 2025.
In addition, they greenlit guarantee fees paid to Al-Futtaim Private related to the company’s loan from Emirates NBD. The three-year guarantee arrangement amounted to SAR 16.9 million for 2025.
Shareholders elected the board of directors for a four-year term starting Aug. 12, 2026. The elected members are: Ismail Al-Khatib, Russell Rodrigues, Ahmed Al-Arabi, Abubaker Al-Futtaim, Hussein Shabkshi, Majed Najm, Hamad Al-Surai, Tarek Tantawy, and John Ring.
The company added that shareholders approved all remaining agenda items.
