10 Hrs
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Al-Mat-han Al-Awwal Seeks Shareholder Vote
First Milling Company has invited its shareholders to cast their votes electronically on amending the company's bylaws and increasing the number of board members from 7 to 8. This will take place during the extraordinary general assembly scheduled for June 28, 2026. The proposed amendments include updating the board's authorities, empowering it to manage assets and establish subsidiary companies, with the condition that the assembly must approve transactions involving assets exceeding 50% of the company's total assets. Additionally, there are provisions related to food security measures. The company will also discuss its financial results for 2025, which showed revenues of 1.146 billion riyals, along with a vote on distributing bonuses to board members, transferring the reserve balance to retained earnings, and the election of a new member to the board.
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