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Hamad Mohammed Bin Saidan Real Estate Company announced the results of the first Ordinary General Assembly meeting, which was held last Thursday at the company’s headquarters and through modern technology, and witnessed the election of the members of the Board of Directors for the next session, which begins on January 31, 2027 and lasts for a period of four years.
The company said in a statement published on the Saudi Stock Exchange website that the association elected five members of the board of directors in accordance with the company’s articles of association, after receiving the highest votes among the 22 candidates who competed for seats.
Election of the members of the Governing Council for the new session
The voting process resulted in the election of the following five members:
Hamad bin Mohammed bin Saidan.
Hamad bin Mohammed Al Musa.
Abdulaziz bin Hamad bin Saidan.
Hisham bin Hussein Abu Jami.
Majid bin Ahmed Al-Suwaig.
The Assembly also approved the recommendation of the Board of Directors to amend the uses of the proceeds of the offering resulting from the capital increase, which was previously approved in accordance with the prospectus of the issuance on September 14, 2025, in response to the latest implementation and changes in the company’s priorities.
The General Assembly approved the payment of bonuses to the members of the Board of Directors for a total of 500 thousand riyals
Board Rewards and Approval of Competition Business
The General Assembly approved the payment of bonuses to the members of the Board of Directors for a total of 500,000 riyals for the financial year ended 31 December 2025.
The decisions also included the approval of the participation of Chairman Hamad bin Mohammed bin Saidan in the work of a competitor to the company’s activity, in addition to the approval of the participation of Board Member Abdulaziz bin Hamad bin Saidan in a competitive work.
Distribution of cash dividends of SAR 7 million
The Assembly approved the Board of Directors’ recommendation to distribute cash dividends to shareholders with a total value of SAR 7 million for the financial period ended 31 December 2025, at SAR 0.25 per share, representing 2.5% of the nominal value of the share.
The company set the eligibility for dividends for shareholders who own shares by the end of trading on the day of the General Assembly, and those registered in the company’s shareholder register with the Depository Securities Company “Depository Center”, at the end of the second trading day following the date of the assembly.
The decision to distribute dividends to eligible shareholders is to be implemented within 15 working days from the maturity date set out in the General Assembly resolution.
Distribution of dividends to eligible shareholders within 15 working days from the specified maturity date
Authorization of the Governing Council with the powers of the General Assembly
The Assembly approved the delegation of the elected Board of Directors to the authority of the Ordinary General Assembly relating to the license provided for in the first paragraph of Article XXVII of the Companies Law, for a period of one year starting from the date of approval of the Assembly, or until the end of the session of the Board of Directors, whichever is earlier, in accordance with the conditions specified in the executive regulations of the system of companies of listed joint stock companies.
The Assembly also approved the delegation of the elected Board of Directors with the authority related to the license contained in the second paragraph of Article Twenty-Seven of the Companies Law, for a period of one year from the date of approval of the General Assembly, or until the end of the session of the Board of Directors, whichever is earlier.
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