Molan Steel shareholders approve auditor, interim dividend mandate

Molan Steel Company said its ordinary general assembly approved the appointment of Al Zoman, Al Fahad & Al Hajjaj for Professional Consulting as the company's external auditor for the 2026 fiscal year. The firm will audit the semi-annual and annual financial statements for a total fee of SAR 260,000. The fee is split into SAR 200,000 for the annual audit and SAR 60,000 for the semi-annual review.

Shareholders at the 30 June 2026 meeting also authorized the board to distribute interim dividends on a semi-annual or quarterly basis for the 2026 fiscal year. The assembly ratified the board's decision to appoint Majed Ibrahim Al Odaibi as a board member effective 9 April 2026, completing the current term ending 10 July 2027.

Other agenda items approved included the board and auditor reports for the 2025 fiscal year and the discharge of board members from liability for the same period.