| Element List | Explanation |
|---|---|
| Announcement Detail | Reference to the results of the Arabian Contracting Services Company Ordinary General Assembly meeting held on Sunday 19 February 2023 corresponding to 28 Rajab 1444H, which included the election of the members of the Board of Directors for a new term starting on 18 March 2023 and for a period of three years ending on 17 March 2026. |
The Company is pleased to announce the Board of Directors’ resolution dated 27 March 2023 corresponding to 5 Ramadan 1444H, 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. In addition, the appointment of the Board’s secretary and Company‘s representatives with respect to the Capital Market Authority and the Saudi Exchange (Tadawul), as the following:
First: Appointing the Chairman and Vice Chairman of Arabian Contracting Services Company’s Board of Directors:
1- Eng. Abdelelah Abdulrahman Saleh Alkhereiji "Chairman" (Non-Executive)
2- Mr. Mohamed Abdelelah Abdulrahman Alkhereiji "Vice-Chairman" (Executive)
Second: Formation of the Nominations and Remunerations Committee consisting of the following members:
1- Mr. Munaji Fouad Taher Zamakhshari "Committee Chairman" (Independent)
2- Eng. Abdelelah Abdulrahman Saleh Alkhereiji (Non-Executive)
3- Samuel James Kilion Barnett (Non-Executive)
A Secretary of the Arabian Contracting Services Company’s Board of Directors has been appointed as well as 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.
It’s worth mentioning that the formation of the Audit Committee and the definition of its duties, work regulations, and remuneration of its members for the new term were approved during the Ordinary General Assembly meeting held on Sunday 19 February 2023 corresponding to 28 Rajab 1444H, noting that the members are:
1- Mr. Mashor Mohammad Al-Obikan "Committee Chairman" (Independent)
2- Mr. Muhammed Abdullah Al-Nimr (Independent)
3- Dr. Waleed Mohammed Al-Bassam (External member)
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.