Saleh Al Rashed OGM approves continuity of four subsidiaries

The approval came during an ordinary general meeting (OGM) held on April 6, according to a Tadawul statement.

Shareholders approved the continuity of SAR Newmont JV Mining. Saleh Al Rashed holds a 70% direct stake in its SAR 100,000 capital, while Newmont Mining Corp. indirectly holds 30%. The company operates in mining and quarrying activities.

They gave the go-ahead for Newmont Mining to continue as going concern. Saleh Al Rashed owns a 49% stake in this subsidiary, while Rasek Investment holds the remaining 51%. The company was established to obtain silica licenses and explore Class A minerals, with an acquisition value of SAR 4.95 million, funded internally.

Shareholders also approved the continuity of Tamouh Al-Qimma Mining, in which Saleh Al Rashed owns 99% directly and indirectly, with Joudat Al-Sokhok Mining holding 1%. It was established to obtain a crusher materials license in the Eastern Province, with an acquisition value of SAR 1.15 million, funded internally.

Further, they gave the greenlight for the going concern of AKM Industries for Development and Industrial Investment, in which Saleh Al Rashed holds 51% of its SAR 35 million capital since November 2025, while Mohammed Othman Barjas Al-Abdulkarim owns 49%. The company operates in construction materials (ready-mix concrete), and the investment was funded internally.

Voting was limited to new shareholders (post-listing).

Saleh Al Rashed was listed and began trading on the Main Market (TASI) on March 11, at SAR 45 per share, according to Argaam data.