Riyadh – Mubasher: Alqemam for Computer Systems Company announced the results of its Ordinary General Assembly meeting during which the shareholders approved a related party transaction involving Chairman Wasel Abdullah Al Wasel.
The transaction consists of an interest-free loan granted to the company totaling SAR 3.85 million, according to a bourse filing.
The facility was provided as operational financing without any preferential advantages. The assembly also ratified payments made to the Chairman amounting to SAR 1.45 million.
The assembly approved the appointment of Baker Tilly as the external auditor from among the nominated candidates, based on the recommendation of the Audit Committee.
The auditing entity will examine, review, and audit the financial statements for the first half (H1) of 2026 and the annual financial statements for 2026, for a total audit fee of SAR 290,000.
Other resolutions included the discharge of board members from liability for the 2025 fiscal year and the disbursement of SAR 336,000 in total remuneration to board members for the same period.
The board was also authorized with the powers of the Ordinary General Assembly regarding competition licensing for a period of one year.
