Sultan Center Food Products Company has announced that it will hold its Ordinary General Assembly Meeting for the fiscal year ending December 31, 2024. The meeting is scheduled for Monday, May 26, 2025, at 11:00 AM at the company’s headquarters.

The key item on the agenda will be the election of a new Board of Directors for a three-year term. Shareholders will also discuss several critical administrative and financial matters.

The agenda includes reviewing and approving the Board of Directors’ annual report on the company’s 2024 activities, in addition to presenting the governance and audit committee reports for the same fiscal year. Shareholders will also review and approve the external auditor’s report and the company’s financial statements, including the profit and loss account.

Financially, the board has recommended not distributed cash dividends or bonus shares for 2024. Additionally, the board has advised against paying bonuses to its members’ recommendations that will be up for shareholder approval.

The assembly will also review any violations identified by regulatory authorities that resulted in penalties during the fiscal year. Furthermore, shareholders will vote to discharge the Board of Directors from legal, financial, and administrative liabilities for the stated period.

Related-party transactions will also be addressed, including agreements, contracts, and dealings with subsidiaries and affiliates. Shareholders will be asked to authorize the Board to handle related-party transactions throughout the 2025 fiscal year until the next Ordinary General Assembly.

The agenda also includes a vote to allow board members—whether individuals or corporate representatives, as well as their spouses and relatives up to the second degree, to hold direct or indirect interests in company contracts or dealings through December 31, 2025, in accordance with Article 199 of Law No. 1 of 2016 and relevant executive regulations.

Additionally, shareholders will vote on authorizing the Board to engage in loan and financing agreements with board members, the CEO, or their close relatives, in line with Article 200 of Law No. 1 of 2016.

The Board will also be authorized to purchase or sell up to 10% of the company’s shares, in accordance with Law No. 7 of 2010 and its amendments.

Finally, the assembly will consider the appointment or reappointment of an external auditor for the fiscal year ending December 31, 2025, and determine their remuneration.