Nahdi shareholders to vote on related party contracts on Oct. 23

One of Nahdi Medical Co.’s pharmacies

Nahdi Medical Co.’s shareholders will vote on a number of contracts concluded with related parties during the extraordinary general meeting (EGM) slated for Oct. 23, according to a statement to Tadawul. 

On the agenda are the contracts with Abdulrahman Abdullah Amer Al-Nahdi (a board member with indirect interest) valued at SAR 250,000 per year, under standard commercial terms without preferential benefits.  

Shareholders will also vote on business contracts signed with Al-Nahdi for Transportation Co. at a total value of SAR 7.2 million, under standard commercial terms without preferential benefits. Abdullah Amer Al-Nahdi, a board member, has an indirect interest in the transaction.  

There are businesses and contracts sealed with Amer Salah Abdullah Al-Nahdi, at SAR 700,000 per year, under standard commercial terms without preferential benefits. Abdullah Amer Al-Nahdi, a board member, has an indirect interest in the transaction. 

Shareholders will also vote on business contracts with Al Nahdi Company for Commercial Investments at SAR 287,500 per year under standard commercial terms without preferential benefits.  

There are also business contracts with Al Mahmal Facilities Services Co. at SAR 530,313, where Chairman Saleh bin Mahfouz and board member Abdulelah bin Mahfouz have an indirect interest; business contracts with Red Sea Limited Co. at SAR 1.21 million per year; and contracts with Intimaa Real Estate Services Co. at SAR 241,500 per year. 

The company said in a statement to Tadawul that the meeting agenda includes a number of items included below: