Al Kathiri shareholders to vote on SAR 50.1M transactions with related parties on Oct. 29

Logo of Al Kathiri Holding Co. 

Al Kathiri Holding Co. shareholders will convene an ordinary general meeting (OGM) on Oct. 29 to vote on a number of transactions and contracts with related parties during 2025, at a total value of SAR 50.1 million, the company said in a statement to Tadawul.

The meeting agenda is as follows:

1. Voting on the transactions and contracts between Msandh Al-Emdad Limited Co. (100% owned by Al Kathiri Holding Co.) and Alian Industry Co. (99% owned by Al Kathiri Holding Co.). The total value of the transactions amounted to SAR 21.32 million as of Dec. 31, 2025.

2. Voting on the transactions and contracts between The Luxury Yacht Industrial Co. (100% owned by Al Kathiri Holding Co.) and Alian Industry Co., with a value of SAR 449,890 as of Dec. 31, 2025.

3. Voting on the transactions and contracts between Al Kathiri Holding Co. and Alian Industry Co., with a total value of SAR 28.37 million.

The company also explained that board member Meshal Nasser Al Kathiri has an indirect interest in these transactions by virtue of his membership on the boards of the companies involved, noting that the transactions were conducted in the ordinary course of business without preferential terms or benefits.

The agenda includes voting on the board of directors' resolution to appoint Rawan Abdullah Al-Dawood as an independent member, effective Sept. 13, 2026, to complete the current term ending on May 6, 2030, succeeding the former member Hussein Masoud Buraik Al-Dosari.

Shareholders will also vote on authorizing the board of directors with the general assembly authority with the rights mentioned in paragraph (1) of Article (27) of the Companies Law for one year from the date of approval of the general assembly or until the end of the session of the authorized board of directors, whichever is earlier.