Al Othaim shareholders approve board members for new term

02/10/2024 Argaam
Logo ofAbdullah Al Othaim Markets Co.

Logo of Abdullah Al Othaim Markets Co.

Abdullah Al Othaim Markets Co.’s shareholders elected the members of the board of directors for the upcoming three-year term starting on Oct. 3, 2024.

 

The step came during the extraordinary general meeting (EGM) held on Oct. 1, the company said in a statement on Tadawul.

 

The elected members are Abdullah Saleh Al Othaim, Bader Hamed Alaujan, Bandar Sulaiman Al Bohairy, Raed Abdullah Al Hogail, Saad Ibrahim Al Mushawah and Muaffaq Abdullah Mubarah.

 

Meanwhile, they authorized the board of directors to pay interim dividends for 2025 on a semi-annual or quarterly basis.

 

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Additionally, shareholders approved the transactions and contracts concluded between the company and the General Organization for Social Insurance (GOSI), in which board member Bandar Al Tamimi has an indirect interest.

 

Moreover, they okayed transactions to a 15-year lease worth SAR 331.54 million for a land in Dammam on which a commercial shopping mall and another 15-year lease contract for the land with commercial lounges in Dammam for SAR 91.2 million, both with the prevailing commercial conditions.

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