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Riyadh Development Company announces its agreement not to renew the CEO's contract based on his desire

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Introduction Riyadh Development Company announces the acceptance of its board of directors in its meeting held on 03/03/2021 AD CEO's apology, Engineer Ali bin Abdullah Al-Hassoun, for renewing his contract, which expires on 09/25/2021, based on his personal desire while remaining on the board of directors.

In this regard, the Board of Directors expressed its sincere thanks and appreciation to Engineer / Ali bin Abdullah Al-Hassoun for his outstanding performance and great and appreciated efforts during the period in which he assumed the position of CEO of the company, which lasted for more than ten years, during which the company made qualitative leaps in increasing profits and the value of investment property The Council also wished his happiness well.

Element ListExplanation
Name of the Resigned CEO Engineer / Ali bin Abdullah Al-Hassoun
Resignation Acceptance Date 2021-03-03 Corresponding to 1442-07-19
Resignation Effective Date 2021-09-25 Corresponding to 1443-02-18
Reasons for Resignation Based on his personal desire

The Capital Market Authority and the Saudi Stock 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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