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Saudi Steel Pipe Co. Announces Resignation and Appointment of a Board Member
| Element List | Explanation |
|---|---|
| Introduction | The Board of Saudi Steel Pipe Company announces that it has passed a resolution dated 15 November 2023 accepting the resignation of Mr. Mariano Armengol Lamazares from the Company’s Board for personal reasons. The resignation is effective as of the resolution’s date. Furthermore, the Board announces that on 15 November 2023 the Board approved the appointment of Mr. Francisco Zini as Board Member, based on the RNC’s recommendation. Mr. Francisco Zini will complete the remaining period of the term of the current board of directors until 6 June, 2025. The appointment is effective as of 16 November 2023. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | MARIANO ARMENGOL LAMAZARES |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2023-11-06 Corresponding to 1445-04-22 |
| Resignation Acceptance Date | 2023-11-15 Corresponding to 1445-05-01 |
| Resignation Effective Date | 2023-11-15 Corresponding to 1445-05-01 |
| Membership Starting Date for the Resigned Member | 2022-06-07 Corresponding to 1443-11-08 |
| Reasons of Resignation | PERSONAL REASONS |
| Element List | Explanation |
|---|---|
| Appointed Member Name | FRANCISCO ZINI |
| Membership Type | Non- Executive |
| Membership Start Date | 2023-11-16 Corresponding to 1445-05-02 |
| Brief Resume of the Appointed Member | Mr. Francisco Zini has more than 20 years of experience working in the oil and energy industry. At present, he serves as the VP of Supply Chain Eastern Hemisphere for Tenaris and previously he served as CEO Advisor for Trade Tariff USA at Tenaris and as VP Supply Chain USA for Tenaris. He has been involved in several integrations following acquisitions in various countries, including Romania, the USA, and the Kingdom of Saudi Arabia. He is a graduate of MIT and ITBA. |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2023-11-15 Corresponding to 1445-05-01 |
| Board Approval | The appointment of Mr. Francisco Zini shall be submitted to the shareholders for their approval in the next General Assembly Meeting. |
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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