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Arabian Contracting Services Co. Announces an update on the appointment of the Chairman of the Board of Directors, Vice Chairman, and the formation of committees emanating from the Board of Directors.
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Arabian Contracting Services Co. on 05-09-1444H, corresponding to27-03-2023G, which included the appointment of the Chairman of the Board of Directors, Vice Chairman, and the formation of Nomination and Remuneration Committee emanating from the Board of Directors for the current term starting on 18-03-2023 and for a period of three years ending on 17-03-2026. Arabian Contracting Services Co. announces the Board of Directors’ decision dated 16-11-1446H corresponding to 14-05-2025G, the following: First: Appointing Mr. Mohamed Abdelelah Alkhereiji as Chairman of the Board with an effective date of 17-11-1446H, corresponding to 15-05-2025G, for the current term, which started on 18-03-2023G and ends on 17-03-2026 G. Second: Reformation of the Nominations and Remunerations Committee to consist of the following members for the current term: 1- Mr. Munaji Fouad Taher Zamakhshari "Committee Chairman" (Independent) 2- Mr. Mohamed Abdelelah Alkhereiji (Non-Executive) 3- Mr. Mohammed Saud Al-Ghaith (Non-Executive) Third: Appointing the representatives of AlArabia with respect to the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) for all the purposes related to the Law, the Companies Law, their implementing regulations, other relevant regulations, the rules for offering securities, and continuing obligations. |
| Previous Announcement | the appointment of the Chairman of the Board of Directors, Vice Chairman, and the formation of committees emanating from the Board of Directors. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2023-03-27 Corresponding to 1444-09-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Board of Directors’ decision dated 16-11-1446H corresponding to 14-05-2025G, the following: First: Appointing Mr. Mohamed Abdelelah Alkhereiji as Chairman of the Board with an effective date of 17-11-1446H, corresponding to 15-05-2025G, for the current term, which started on 18-03-2023G and ends on 17-03-2026 G. Second: Reformation of the Nominations and Remunerations Committee to consist of the following members for the current term: 1- Mr. Munaji Fouad Taher Zamakhshari "Committee Chairman" (Independent) 2- Mr. Mohamed Abdelelah Alkhereiji (Non-Executive) 3- Mr. Mohammed Saud Al-Ghaith (Non-Executive) Third: Appointing the representatives of AlArabia with respect to the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul) for all the purposes related to the Law, the Companies Law, their implementing regulations, other relevant regulations, the rules for offering securities, and continuing obligations. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
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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