BinDawood shareholders to vote on SAR 136 mln related-party contracts on June 28

Logo of BinDawood Holding Co.

BinDawood Holding Co.'s shareholders are set to vote on several agenda items, including business and contracts concluded with a number of related parties in 2020, valued at SAR 135.96 million, during the ordinary general meeting (OGM) scheduled for June 28, 2021.

The company signed 20 contracts with Al-Riyadah National Real Estate Co. worth SAR 43.55 million, 18 contracts with Amwaj Properties valued at SAR 26.23 million, five contracts with Abdul Khaliq Bin Dawood Establishment totaled at SAR 36.38 million, and one contract each with International Commercial Apps Ltd., Safa Co. Ltd., and Bin Dawood Trading Co. Ltd. valued at SAR 20.23 million, SAR 8.63 million, and SAR 935,000, respectively.

In addition, shareholders will vote on authorizing the board of directors to distribute interim dividends on a semi-annual or quarterly basis for 2021.

They will also vote on the board and audit reports, financial statements, as well as discharge the board members from liability for 2020.

Shareholders can vote on the agenda items as of June 24, 2021, through Tadawulaty system.