Logo ofRawasi Albina Investment Co.
This came during the ordinary general meeting (OGM), held on Aug. 18. 
In a statement to Tadawul, the company said the OGM also rejected a proposal to pay SAR 630,700 in remuneration to board members for the fiscal year ended Dec. 31, 2025.
Shareholders also rejected a proposal to authorize the board to exercise the powers of the OGM regarding the license stipulated in Paragraph 1 of Article 27 of the Companies Law.
The authorization would be valid for one year from the date of the general assembly’s approval or until the end of the board’s term, whichever comes first.
This would be in accordance with the conditions and provisions of the Implementing Regulations of the Companies Law applicable to listed joint stock companies.
It also rejected the appointment of Saad Alsammari, an independent board member, effective from his appointment date on Dec. 10, 2025, to complete the board’s term, replacing the resigned member Mohsen Al-Otaibi, who served as managing director.
Shareholders further rejected the company’s auditor’s report for the fiscal year ended Dec. 31, 2025, after discussing it.
Meanwhile, the OGM approved the appointment of Al-Zoman, Al-Fahad Al-Hajjaj Professional Consulting Co. as the company’s auditor from among the nominated candidates, based on the recommendation of the audit committee, to examine, review and audit the annual financial statements for the year ending Dec. 31, 2026, and the interim financial statements for the six-month period ending June 30, 2027, for fees of SAR 380,000, excluding VAT.
Rawasi said it received a letter on Aug. 13, from Al-Zoman, declining the appointment as the company’s auditor and withdrawing its fee proposal for examining, reviewing and auditing the annual financial statements for the year ending Dec. 31, 2026, and the interim financial statements for the six-month period ending June 30, 2027.
The company said a new OGM will be scheduled, subject to obtaining the necessary approvals, to vote on the items that were not approved.
Logo ofRawasi Albina Investment Co.
This came during the ordinary general meeting (OGM), held on Aug. 18.
In a statement to Tadawul, the company said the OGM also rejected a proposal to pay SAR 630,700 in remuneration to board members for the fiscal year ended Dec. 31, 2025.
Shareholders also rejected a proposal to authorize the board to exercise the powers of the OGM regarding the license stipulated in Paragraph 1 of Article 27 of the Companies Law.
The authorization would be valid for one year from the date of the general assembly’s approval or until the end of the board’s term, whichever comes first.
This would be in accordance with the conditions and provisions of the Implementing Regulations of the Companies Law applicable to listed joint stock companies.
It also rejected the appointment of Saad Alsammari, an independent board member, effective from his appointment date on Dec. 10, 2025, to complete the board’s term, replacing the resigned member Mohsen Al-Otaibi, who served as managing director.
Shareholders further rejected the company’s auditor’s report for the fiscal year ended Dec. 31, 2025, after discussing it.
Meanwhile, the OGM approved the appointment of Al-Zoman, Al-Fahad Al-Hajjaj Professional Consulting Co. as the company’s auditor from among the nominated candidates, based on the recommendation of the audit committee, to examine, review and audit the annual financial statements for the year ending Dec. 31, 2026, and the interim financial statements for the six-month period ending June 30, 2027, for fees of SAR 380,000, excluding VAT.
Rawasi said it received a letter on Aug. 13, from Al-Zoman, declining the appointment as the company’s auditor and withdrawing its fee proposal for examining, reviewing and auditing the annual financial statements for the year ending Dec. 31, 2026, and the interim financial statements for the six-month period ending June 30, 2027.
The company said a new OGM will be scheduled, subject to obtaining the necessary approvals, to vote on the items that were not approved.
