News & Announcements

SAUDI CABLE

26 June, 2024 16:09

Saudi Cable Co. Announces Resignation of a Board Member

Element List	Explanation
Introduction	Saudi Cable Company announces the resignation a member of the Board of Directors, Eng. Badran Homoud Albadran (Independent member) from his position, effective from 18/12/1445 corresponding to 24/06/2024, due to his personal circumstances. The Board of Directors extend their thanks and appreciation Eng. Badran Homoud Albadran and wish him continued success.

Element List	Explanation
Resigned Member Name	Eng. Badran Homoud Albadran
Membership Type	Independent
Resignation Submission Date	2024-06-24 Corresponding to 1445-12-18
Resignation Effective Date	2024-06-24 Corresponding to 1445-12-18
Membership Starting Date for the Resigned Member	2024-04-24 Corresponding to 1445-10-15
Reasons of Resignation	Due to his personal circumstances The company confirms that the resignation is in violation of Article Sixteen of the company’s bylaws, which stipulates: “Membership of the Board ends with the expiration of its term or with the expiration of the member’s validity in accordance with any law or instructions applicable in KSA. However, the Ordinary General Assembly may at any time dismiss all or certain of the members of the Board of Directors, without prejudice to the right of the dismissed director towards the company to claim compensation if the dismissal occurred for an unacceptable reason or at an inappropriate time. A director of the Board of Directors may retire, provided that this is at an appropriate time, otherwise he will be liable to the company for the damages resulting from his retirement., and the company reserves its full right to redress any violation issued by the independent members

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