Saudi Networkers Services’ shareholders approve auditor appointment, dividend mandate

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Riyadh – Mubasher: Saudi Networkers Services Company has announced the results of its Ordinary General Assembly meeting during which the shareholders approved several key resolutions, according to a bourse filing.

The investors agreed to the appointment of a new external auditor, the discharge of board members from liability for the previous fiscal year, and the authorization for interim dividend distributions.

The assembly was held on 14 June 2026 and served as a formal venue for the review and discussion of the company’s performance during the fiscal year ended on 31 December 2025.

A primary highlight of the assembly was the approval of the financial reports for the 2025 fiscal year. Shareholders reviewed and discussed the Board of Directors’ report and the audited financial statements.

Following these discussions, the assembly approved the auditor’s report and officially discharged the members of the Board of Directors from liability for their management during the 2025 fiscal year.

In a significant move regarding the company’s future financial oversight, the General Assembly approved the appointment of KPMG as the company’s external auditor.

This selection was based on a recommendation from the Audit Committee. KPMG will be responsible for reviewing and auditing the financial statements for the first (Q1), second, third quarters, and the full year of 2026 and 2027, as well as Q1-28.

The total fees for the KPMG services were set at SAR 2.26 million, excluding Value Added Tax (VAT).

The assembly also addressed board compensation and shareholder returns. Shareholders approved the disbursement of SAR 1.09 million as remuneration for the members of the Board of Directors and its various committees for the2025 fiscal year.

Furthermore, the board received authorization to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year. This mandate provides the board with the flexibility to manage capital returns to shareholders throughout the upcoming year based on the company’s liquidity and financial performance.

The meeting concluded with the formal recording of these votes, marking the completion of the regulatory requirements for the 2025 fiscal cycle and setting the governance and auditing framework for the company’s operations through 2026 and beyond.

This assembly reflects the company's commitment to transparency and regulatory compliance within the Saudi capital market framework.

Earlier in June 2026, the listed company extended a comprehensive framework agreement with a prominent local bank in Saudi Arabia for a five-year duration.

Source: Mubasher Source: {{details.article.source}}