Logo ofAl-Fakhera for Men’s Tailoring Co.
Alfakhera for Mens Tailoring Co. said chairman Suleiman Al-Yahya and vice chairman Hamad Al-Yahya decided to cancel a contract with Suleiman bin Hamad Al-Yahya Real Estate Contracting Co. for the fiscal year ended Dec. 31, 2024. 
The decision was made in line with paragraph (b) of Article 67 of the executive regulations of the Companies Law for listed joint-stock firms, the company said in a Tadawul filing.
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The financial impact of the cancellation will be reflected in the annual statements ending Dec. 31, 2025, it added.
In June, shareholders rejected approving related-party transactions for 2024 between Alfakhera and the real estate company, in which Chairman Suleiman, Vice Chairman Hamad, and then-Managing Director Abdulaziz Al-Yahya had direct interests.
The transactions included leasing several outlets and facilities from the real estate firm, such as Al-Kisai showroom and Alfakhera showroom in Buraidah, warehouses in Riyadh, and staff housing in both cities. The contract, valued at SAR 412,300 annually, was set for one year, renewable, with no preferential terms.
Logo ofAl-Fakhera for Men’s Tailoring Co.
Alfakhera for Mens Tailoring Co. said chairman Suleiman Al-Yahya and vice chairman Hamad Al-Yahya decided to cancel a contract with Suleiman bin Hamad Al-Yahya Real Estate Contracting Co. for the fiscal year ended Dec. 31, 2024.
The decision was made in line with paragraph (b) of Article 67 of the executive regulations of the Companies Law for listed joint-stock firms, the company said in a Tadawul filing.
For more news on listed companies
The financial impact of the cancellation will be reflected in the annual statements ending Dec. 31, 2025, it added.
In June, shareholders rejected approving related-party transactions for 2024 between Alfakhera and the real estate company, in which Chairman Suleiman, Vice Chairman Hamad, and then-Managing Director Abdulaziz Al-Yahya had direct interests.
The transactions included leasing several outlets and facilities from the real estate firm, such as Al-Kisai showroom and Alfakhera showroom in Buraidah, warehouses in Riyadh, and staff housing in both cities. The contract, valued at SAR 412,300 annually, was set for one year, renewable, with no preferential terms.
