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Ash-sharqiyah Development Company announces the appointment of the Chairman, Vice President, Managing Director and the formation of the Nomination, Remuneration and Executive Business Committee in the new session of the Council

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Announcement Detail Referring to the announcement of Ash-sharqiyah Development Company on 10/17/1441 AH corresponding to 06/06/2020 regarding the results of the forty-second ordinary general assembly meeting held on 10/16/1441 AH corresponding to 06/08/2020 which includes the election of a new board of directors for the session starting from the date 11/29/1441 AH corresponding to 07/20/2020 for a period of three years .

The company announces the decisions of the Dirictores Board meeting which held on 11/11 / 1441H corresponding to 07/20/2020, in order to choose the Chairman, Vice President, Managing Director and the formation of the Nomination and Remuneration Committee and the Executive Committee, which came as follows :

The appointment of Mr. Ali Bin Yahya Al-Jaafari - Chairman of the Board (non-executive)

(2) The appointment of Mr. Bandar Bin Muhammad Al Mahmoud - Vice Chairman of the Board (Independent)

(3) The appointment of Mr / Mohammed bin Abdullah Al-Hujailan - Managing Director (Executive)

(4) Appointment of the Nomination and Remuneration Committee of the Board of Directors from the following names:

1- Mr. Bandar Bin Muhammad Al-Mahmoud - President (Independent)

2- Mr / Mansour bin Abdul Khaleq Al-Ghamdi - Member (Independent)

3- Mr / Fares bin Hamad Al-Faris - Member (Independent)

(5) Appointment of the Executive Committee of the Board of Directors from the following names:

1- Mr. Ali Bin Yahya Al-Jaafari - President (non-executive)

2- Mr / Mansour bin Abdul Khaleq Al-Ghamdi - Member (Independent)

3- Mr / Mohammed bin Abdullah Al-Hujaylan - Member (Executive)

(6) Appointing the Secretary of Directores Board

(7) Appointing the representatives of the company with the Capital Market Authority for all purposes related to the implementation of the Authority's law and executive regulations.

(8) Appointing a company`s representatives, for Tadawul, for listing purposes.

Note that the audit committee has not been approved for appointment by the Ordinary General Assembly held on 12/07/2020 corresponding to 11/21/1441 AH and it will be announced later to invite to an ordinary general assembly whose agenda includes the appointment of the audit committee .

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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