“Jabal Omar” general assembly agrees to convert the reserve balance into the profits of the remaining

Jabal Omar Development Company announced the results of the extraordinary general assembly meeting (the second meeting), which was held on Tuesday.
The company said in a statement on Saudi Arabia’s circulation: The results of the voting on the association’s agenda included:
1- See the report of the Board of Directors for the financial year ending on 12/31/2024 AD and discuss it.
2- Approval of the company’s account references report on the fiscal year ending 12/31/2024 AD after its discussion.
3- See the financial statements for the financial year ending on 12/31/2024 AD and discuss them.
4- Approval to discharge the members of the Board of Directors for the fiscal year ending 12/31/2024 AD
5- Approval of the participation of a member of the Board of Directors, Eng. Saleh Hebdan Al-Habdan, in a competitive work for the company’s work.
6- Approval of the participation of a member of the Board of Directors, Abdulaziz Saud, the doctor, in competing work for the company’s work.
7- Approval of the appointment of KBMG as a reviewer of the company’s accounts from among the candidates based on the recommendation of the review committee; This is to examine, review and audit the financial statements for the second, third and annual quarter of the fiscal year 2025 AD, until the first quarter of the fiscal year 2027 AD, and to determine his fees in an amount of 5,900,000 riyals.
8- Approving the disbursement of additional fees for the current external account auditor KPMG “KBMG in the amount of 492,000 riyals in exchange for additional work outside the scope of the previously agreed work related to providing audit services to Jumeirah Hotel and the title for the period from the second quarter 2023 AD until the end of the first quarter of 2025 m.
9- Approval of converting the system of regular reserves of 108,506,000 riyals, as well as in the financial statements for the year ending December 31, 2024 AD to the profits.