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Alkhorayef Water and Power Technologies Co. Announces Resignation of the Chairman of the Board of Directors, Appointment of new Board Member and Appointment of a new Chairman of the Board of Directors
| Element List | Explanation |
|---|---|
| Introduction | Alkhorayef Water and Power Technologies Company (the “Company”) announces the resignation of Eng. Mohammed bin Abdullah Ibrahim AlKhorayef from the position of Chairman of the Company’s Board of Directors (BoDs) (“non-executive”) and from the membership of the Board of Directors of the Company, due to his special circumstances. He submitted his resignation on 12/02/2023 AD provided that the acceptance of the resignation shall be effective from the date of 13/02/2023 AD, and the Company’s BoDs approved his resignation on the date of 13/02/2023 AD, provided that it is effective from that date. The Company’s BoDs decided on 13/02/2023 AD to appoint Eng. Abdulaziz Abdulrahman Abdullah AlKhorayef (“Chairman”) to the BoDs of the Company (non-executive), and to appoint Eng. Fahd bin Muhammad bin Abdulaziz AlKhorayef (Vice-Chairman) as of that date. The Company’s BoDs also decided on 13/02/2023 AD to appoint Dr. Othman bin Yahya bin Ibrahim Al-Najdi as a member of the Company’s BoDs (non-executive) from 13/02/2023 AD until the end of the current Board’s term, noting that the approval of the BoDs is not considered final, and this appointment will be presented to the first meeting of the General Assembly for approval. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Eng. Mohammed bin Abdullah Ibrahim AlKhorayef |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2023-02-12 Corresponding to 1444-07-21 |
| Resignation Acceptance Date | 2023-02-13 Corresponding to 1444-07-22 |
| Resignation Effective Date | 2023-02-13 Corresponding to 1444-07-22 |
| Membership Starting Date for the Resigned Member | 2020-05-21 Corresponding to 1441-09-28 |
| Reasons of Resignation | due to personal reasons |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Dr. Othman bin Yahya Al-Najdi |
| Membership Type | Non- Executive |
| Membership Start Date | 2023-02-13 Corresponding to 1444-07-22 |
| Brief Resume of the Appointed Member | Dr. Othman bin Yahya Al Najdi holds a Bachelor's degree in Mechanical Engineering Department of Aeronautical Engineering and a Master's degree in Thermal Engineering and Mechanical Powers from King Abdulaziz University in Jeddah. He holds a PhD in Sustainable Energy Engineering from the University of Nottingham United Kingdom and holds many academic and professional qualifications. He has more scientific and practical experience, and currently occupies the position of (General Manager of Sustainable Energy and Water Technologies at AlKhorayef Group). |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2023-02-13 Corresponding to 1444-07-22 |
| Board Approval | The Board's approval is not final and this appointment will be presented to the first meeting of the General Assembly for approval. |
| Additional Information | The BoDs is pleased to express its appreciation and gratitude to Eng. Mohammed bin Abdullah Ibrahim AlKhorayef for his appreciated and continuous efforts for the growth and success of the Company and for his services and contributions to the company's progress during his tenure, wishing him continued success. |
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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