Knowledge Economic City announces the decision of its board of directors in its meeting held on 10/03/2012 to appoint H.E. Mr. Iyad Amin Abdullah Madani as Chairman of the Board of Directors, effective 10/03/2012 until the end of the current board term. Mr. Madani will be succeeding Dr. Sami Mohsen Baroum who resigned from the board membership on 21/02/2012.
The company also announces the decision of its board to appoint Dr. Abdul Raouf Mohammad Manna as Vice Chairman, effective 10/03/2012 until the end of the current board term. Mr. Manna will be succeeding Mr. Saleh Mohammad Binladin who will remain as member of the board.
It is worth mentioning that the current board term ends on 27/07/2015 not on 29/06/2015 as announced earlier on Tadawul on 22/02/2012.
H.E. Mr. Iyad Amin Madani serves as Vice President of King Abdullah Bin Abdul Aziz Foundation for Housing Development and previously served as Minister of Media and Culture and Minister of Hajj. Dr. Abdul Raouf Manna serves as a Managing Director of Savola Group as well as a member on the boards of several companies and institutions.
The Board of Directors wishes all the success to the Chairman and the Vice Chairman in supporting the companys goals and promoting its shareholders interests.
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.