Wassel’s General Assembly Holds its Ordinary Annual Meeting

Rawabi
The General Assembly of the Palestinian Distribution and Logistics Services Company, Public Shareholding Limited (Wassel), held its ordinary annual meeting with the participation of shareholders holding 82.18% of the company's capital, either in person or by proxy.

During the meeting, key achievements and challenges of the year were highlighted, and the topics and recommendations listed on the agenda were discussed. The Assembly approved the audited financial statements for the year 2024, discharged the Board of Directors from liability for the year 2024, and elected Ernst & Young as the company’s external auditor for 2025.

Chairman of the Board, Mr. Riyad Nazzal, stated: "Wassel Group went through 2024 with confidence, achieving both strategic and operational growth despite the ongoing aggression against Gaza and the West Bank. The company succeeded in establishing new partnerships with leading international and local institutions, reinforcing its presence and standing in the Palestinian market."

He added: "All these efforts contributed to Wassel Group’s outstanding financial performance. We achieved advanced performance levels, reflecting our ongoing strategic approach toward development and modernization across the company's operations. Wassel succeeded in adding further achievements across its various subsidiaries and sectors, achieving notable net profits despite the highly volatile and challenging environment in which Wassel Group companies operate."

Wassel is a public shareholding company listed on the Palestine Exchange (PEX), with a shareholder base of over 13,000 investors. Its investments span logistics services, leasing, cash transportation, and security and guarding services.