Riyadh – Mubasher: Middle East Paper Company (MEPCO) has announced the results of its Ordinary General Meeting (OGM), held on 25 June 2026.

During the session, shareholders reviewed and approved the company’s financial performance for the fiscal year ending 31 December 2025 and authorized the appointment of Ernst & Young as the external auditor for the upcoming periods.

The meeting, conducted via modern technology and the Tadawulaty system, achieved a legal quorum with a shareholder attendance rate of 40.36%.

A primary focus of the assembly was the formal review of the company’s financial standing. Shareholders approved the auditor’s report for the fiscal year ending 31 December 2025, following a comprehensive discussion.

Furthermore, the assembly reviewed and discussed both the financial statements and the Board of Directors' report for the same fiscal period.

These documents provide the foundational overview of MEPCO’s operational and financial trajectory over the previous year.

In a significant move regarding corporate governance and oversight, the General Assembly approved the appointment of Ernst & Young as the company’s external auditor. This selection was based on a recommendation from the audit committee.

Ernst & Young will be responsible for examining and auditing the financial statements for the second and third quarters of 2026, the full-year 2026 results, and the first quarter (Q1) of 2027. The total fee for these services was set at SAR 1.43 million, inclusive of Value Added Tax (VAT).

The assembly also addressed administrative authorizations by approving the delegation of the General Assembly’s powers to the Board of Directors, as permitted under Paragraph (1) of Article 27 of the Companies Law. This authorization is valid for one year from the date of approval or until the end of the current board session, whichever occurs first.

This delegation is conducted in accordance with the regulatory requirements for listed joint-stock companies, ensuring the board maintains the necessary flexibility for corporate decision-making within the legal framework.

Earlier this month, MEPCO completed the title deed transfer and registration of a property in its name after a final court ruling in a lawsuit filed by Al Shorouq Al Motatawera Development Company.