United Mining Approves SAR 1.06M Board Remuneration

United Mining Industries Co. (Tadawul: 9583) announced the outcomes of its Ordinary General Assembly meeting held on June 25, 2026, via modern technology from its Jeddah headquarters, with a shareholder attendance of 70.32%.

Key Resolutions

• Board Remuneration: Shareholders approved board remuneration for fiscal year 2025 totaling SAR 1.06 million.
• Auditor Appointment: BDO, Dr. Mohamed Al-Amri & Co was appointed as the company's auditor for fiscal year 2026 with fees of SAR 315,000.
• Interim Dividends: The assembly authorized the Board of Directors to distribute interim dividends on a semi-annual or quarterly basis during 2026.
• Related-Party Transactions: Ratified transactions with Masdar Building Materials Company (SAR 4,050,282), Al Rashid Wood Products Factory (SAR 1,869,028), and Al Rashid Cement Company (SAR 1,680,996) for 2025.
• New Board Members: Confirmed the appointment of three non-executive directors: Mr. Serge Nicolas Bekhaazi, Mr. Paul Christopher Button, and Dr. Markus Haaf, effective May 2026, serving until the current board term ends on May 29, 2027.

Context

These decisions reflect the company's commitment to corporate governance and transparency, aligning with Saudi capital market requirements.

What This Means for Investors

The approval of interim dividend distributions signals healthy cash flows, while related-party transactions indicate integration with group companies. Investors should monitor quarterly financial reports to assess performance.