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Emaar the Economic City Announces the Appointment of the Chairman of the Board of Directors, Vice Chairman, Managing Director, Board Secretary, the Formation of the Remunerations and Nominations Committee and the Executive Committee that are Emanating from the Board of Directors and the Company’s Representatives for the New Board session.

4220
EMAAR EC
-1.35 %
1445/03/20     05/10/2023 15:44:45

Element ListExplanation
Announcement Detail With Reference to the results of Emaar the Economic City’s (“the Company”) Extraordinary General Assembly meeting held on Monday 25 September 2023 which included the election of the members of the Board of Directors for the new term that commenced on 26 September 2023 and will end on 25 June 2026.

The Company would like to announce the Board of Directors’ resolution dated 4 October 2023, which includes the appointment of the Chairman of the Board of Directors, Vice Chairman, Managing Director and the formation of the Remunerations and Nominations Committee and the Executive Committee that are emanating from the Board of Directors. In addition, to the appointment of the Board’s secretary and Group’s representatives for the Capital Market Authority, the Saudi Stock Exchange (Tadawul) and the Securities Depository Center Company (Edaa) as follows:

1- The Approval of appointing the Chairman and Vice Chairman of the Company’s Board of Directors, and the Board formation will be as follows:

a. Mr. Fahad Abduljalil Al-Saif - Non- executive Member - Chairman

b. Mr. Jamal Majed Bin Theniyah - Non- executive Member – Vice-Chairman

c. Mr. Mansour Abdullrahman Al-Salem – Executive Member (Managing Director)

d. Mr. Osama Omar Barayan – Independent Member

e. Mr. Naif Saleh Al-Hamdan – Non- executive Member

f. Mr. Fahad Khalid AlSaud – Independent Member

g. Mr. Mohammed Nabil Hefni – Non- executive Member

h. Mr. Arif Abdulla Al-Bastaki – Independent Member

i. Mr. Hesham Ahmed Heikal – Non- executive Member

2- The Approval of forming the Remunerations and Nominations Committee consisting of the following members:

a. Mr. Fahad Khalid AlSaud - Committee Chairman

b. Mr. Arif Abdulla Al-Bastaki - Member

c. Mr. Naif Saleh Al-Hamdan - Member

d. Mr. Suliman Abdulfatah Al-Admah – External Member

e. Mr. Tariq Mohammed Al-Amoudi - External Member

3- The Approval of forming the Executive Committee consisting of the following members:

a. Mr. Fahad Abduljalil Al-Saif - Committee Chairman

b. Mr. Jamal Majed Bin Theniyah - Member

c. Mr. Mohammed Nabil Hefni - Member

d. Mr. Fahad Khalid AlSaud - Member

e. Mr. Nassim Constantin Doumani - External Member

4- Approval of appointing Mr. Mansour Abdulrahman Al-Salem as the Managing Director of the Company until the end of the current Board term that will end on 25 June 2026, who was a non-executive Board member and shall be an Executive Board member effective as of the date of this appointment.

5- Approval of appointing the members mentioned below as representatives of the Company for all purposes related to applying the rules and regulations at the Capital Market Authority, the Saudi Stock Exchange (Tadawul) and the Securities Depository Center Company (Edaa):

a. Mr. Mansour Abdullrahman Al-Salem

b. Mr. Abdulrahman Yasser Basyouni

6- Approval of appointing Mr. Abdulrahman Yasser Basyouni as Secretary of the Company’s Board of Directors.

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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Key Parameters
Last Price 8.04
Net Change -0.11 (-1.35%)
Value Traded (Sar) 31,645,233.84
Volume Traded 3,872,937
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