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Saudi Cable Co. Announces Resignation of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | Saudi Cable Company announces the resignation a member of the Board of Directors, Mr. Nael Sameer Fayez (Non-Executive member) from his position, effective from 18/12/1445 corresponding to 24/06/2024, due to his personal circumstances. The Board of Directors extend their thanks and appreciation to Mr. Nael Sameer Fayez and wish him continued success. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Nael Sameer Fayez |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2024-06-24 Corresponding to 1445-12-18 |
| Resignation Effective Date | 2024-06-24 Corresponding to 1445-12-18 |
| Membership Starting Date for the Resigned Member | 2024-04-04 Corresponding to 1445-09-25 |
| Reasons of Resignation | Due to his personal circumstances The company confirms that the resignation is in violation of Article Sixteen of the company’s bylaws, which stipulates: “Membership of the Board ends with the expiration of its term or with the expiration of the member’s validity in accordance with any law or instructions applicable in KSA. However, the Ordinary General Assembly may at any time dismiss all or certain of the members of the Board of Directors, without prejudice to the right of the dismissed director towards the company to claim compensation if the dismissal occurred for an unacceptable reason or at an inappropriate time. A director of the Board of Directors may retire, provided that this is at an appropriate time, otherwise he will be liable to the company for the damages resulting from his retirement.” The company confirms to the shareholders requesting the removal of the member Nael Faye, that their resignation does not negate the vote on the item of filing a liability lawsuit against them in the General Assembly. held today, and the company reserves its full right to redress any violation issued by the resigned members. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 147.0
Net Change 1.2 (+0.82%)
Value Traded (Sar) 8,184,510.8
Volume Traded 56,068
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