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Leejam Sports Co. (Fitness Time) Announces Replacing the CEO

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Announcement Detail Leejam Sports Company announces that the Board of Directors, based on the recommendation of the Remuneration Committee, has decided on 16/9/2019 to appoint Mr. Justin Musgrove as the new Chief Executive Officer as of 16/9/2019 and to assume his responsibilities on 16/9/2019.

Mr. Musgrove has previously held the position of CEO at The Bannatyne Group since 2015 in the UK, and holds an ISRM diploma from South Notts College. Mr. Musgrove boasts 31 years of experience in leisure, Hospitality & sports Management

The Board has also appointed Mr. Ahmar Azaam, “the previous CEO”, as an advisor to the Board of Directors as of 16/9/2019. The Board extends its appreciation and gratitude to Mr. Ahmar for his dedication & efforts as the CEO & previously as the CFO.

As the Company successfully achieved the establishment & expansion phase, the change in the Executive Leadership is aligned with the Board’s strategy to transform and develop the performance & levels of services by adopting international standards to ensure the growth in revenue & branches, offering state of the art services that are aligned with the Kingdom’s 2030 vision & quality of life program & initiatives

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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