| Element List | Explanation |
|---|---|
| Introduction | Sumou Real Estate Company announces the resignation of Audit Committee Member Mr. Khalid Ahmed Mostafa Kaid (member from outside the Board) and the Board approval to appoint Mr. Ziad Bassam Mohammed AL Bassam (a member from outside the Board) as a new member of the Audit Committee, this appointment will be discussed at the first General Assembly Meeting for approval. |
| Name of Resigning Member | Khalid Ahmed Mostafa Kaid |
| Resignation Submission Date | 2022-03-07 Corresponding to 1443-08-04 |
| Resignation Effective Date | 2022-03-12 Corresponding to 1443-08-09 |
| Reasons for Resignation | Due to personal reasons |
| Resigning Member Start Date | 2020-08-16 Corresponding to 1441-12-26 |
| Appointed Member Name | Ziad Bassam Mohammed AL Bassam |
| Membership Start Date | 2022-03-12 Corresponding to 1443-08-09 |
| Brief Resume of the Appointed Member | Mr. Al-Bassam holds a bachelor’s degree in Business Administration in 1988 from King Abdulaziz University in Jeddah and several higher training programs in financial management and investment, in addition to many advanced programs in senior management and strategic planning. He has 30 years of experience in real estate development, investment, insurance and financial management and has held many leadership positions. |
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2022-03-12 Corresponding to 1443-08-09 |
| Board Approval | The board’s approval shall not be deemed final. This appointment will be discussed at the first General Assembly Meeting for approval |
| Additional Information | The Company’s board of directors expressed its sincere thanks and appreciation to Mr. Kaid for his efforts and valuable contribution during his membership in the Audit Committee |
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