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Lazurde Company for Jewelry Announces Resignation and Appointment of a Board Member

Element ListExplanation
Introduction L'azurde announces that the Board of Directors has approved today Tuesday, December 10th 2019 at 3:00 pm, the recommendation of the Nominations and Remuneration Committee to appoint Mr. Khalifa Hassan Khalifa Al Jalahma, as non-executive temporary Board Member, effective from December 10th 2019 till the end of current board term on 25 April 2021.

At the same meeting, the Board of Directors has accepted the resignation letter dated October 31, 2019, from Mr. Sunil Bhilotra (a non-executive Director) for purpose of resignation from Board membership and all Board committees for personal reasons. The resignation is effective on December 10th 2019.

Element ListExplanation
Resigning Member Name Mr. Sunil Bhilotra
Membership Type Non- Executive
Resignation Submission Date 2019-10-31 Corresponding to 1441-03-03
Resignation Acceptance Date 2019-12-10 Corresponding to 1441-04-13
Resignation Effective Date 2019-12-10 Corresponding to 1441-04-13
Membership Starting Date for the Resigning Member 2018-12-11 Corresponding to 1440-04-04
Reasons of Resignation personal reasons
Element ListExplanation
Appointed Member Name Mr. Khalifa Hassan Khalifa Al Jalahma
Membership Type Non- Executive
Membership Start Date 2019-12-10 Corresponding to 1441-04-13
Brief Resume of the Appointed Member Mr. Khalifa Hassan Khalifa Al Jalahma, currently occupies the role of Vice President, Private Equity - MENA region at Investcorp Financial Services "BSC", since October 2010. Previously Khalifa occupied position of Analyst, Investment Banking of Citigroup Global Markets Limited, Dubai, UAE and London, United Kingdom, 2008 to 2010. Khalifa holds M.B.A in Finance, and bachelor degree in corporate finance and accounting at Bentley University located in USA.
Element ListExplanation
Date of Board Meeting in which Appointed New Member(s) were Appointed 2019-12-10 Corresponding to 1441-04-13
Board Approval Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval
Additional Information The Board of Directors has approved the resignation letter submitted and appointment of temporarily board member during its meeting on Tuesday December 10th 2019, pursuant to articles stipulated in Company's bylaw, Companies' law and corporate governance regulation relevant to appointment a temporary Director, when a Board seat becomes vacant

The Chairman of the Board of Directors Mr. Mohammed Ebrahim Al Shroogi, the Board Members, and the L'azurde management would like to thank Mr. Sunil Bhilotra for his remarkable contributions during his term of membership on the L'azurde Board of Directors and its committees and we wish him all the best and success.

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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