Riyadh – Mubasher: The Arabian Company for Agricultural and Industrial Investment (Entaj) announced the results of its Ordinary General Meeting (OGM) held on 25 June 2026.
During the session, which achieved a quorum with 71.65% shareholder attendance, investors approved several critical resolutions, including the appointment of KPMG as the external auditor, the discharge of board members from liability for 2025, and the authorization of substantial related party contracts exceeding SAR 468 million.
The meeting was conducted via modern technology from the company’s headquarters in Riyadh. It was chaired by Badr Hamed Al Aujan, Chairman of the Board, alongside Deputy Chairman Ziad Abdullatif Al Sheikh and other key board members. The assembly reviewed and discussed the board of directors' report, the auditor's report, and the financial statements for the fiscal year ending 31 December 2025.
A primary outcome of the meeting was the approval of KPMG as the company’s external auditor. Based on the Audit Committee's recommendation, KPMG will be tasked with examining and auditing the financial statements for the second, third, and annual periods of the 2026 fiscal year, as well as the first quarter (Q1) of 2027. The total fee for these services was set at SAR 1.05 million.
Additionally, shareholders approved a total remuneration of SAR 1.40 million for the board of directors for 2025 and authorized the board to distribute interim dividends on a semi-annual or quarterly basis for 2026.
Significant attention was directed toward the approval of related party transactions and contracts involving members of the board.
The largest of these agreements was with the Arabian Agricultural Services Company (ARASCO), where Deputy Chairman Mr. Ziad Abdullatif Al Sheikh and board members Mr. Faris Abdullah Al Habib and Mr. Fahd Mutlaq Al Hanaki hold indirect interests.
These contracts included a SAR 388.28 million agreement for the supply of raw feed materials, a SAR 10.16 million contract for the sale of the company's by-products, and a SAR 10 million agreement for information technology services. All contracts with ARASCO are for a one-year duration and were confirmed to have no preferential terms.
Furthermore, the assembly ratified a contract with Abdullah Al Othaim Markets Company, involving an indirect interest for Chairman Badr Hamed Al Aujan. This agreement, valued at SAR 59.58 million, concerns the sale of the company’s food products over a one-year period, also conducted without preferential conditions.
In terms of governance, shareholders approved amendments to the Audit Committee’s bylaws. The board was also granted the authority of the OGM to license competitive business activities as per the Companies Law. This authorization is valid for one year from the date of approval or until the end of the current board session, whichever comes first.
