Arriyadh Development Co. — Board/Management Information 2025

Jul 3, 2025

Riyadh Development Company announces the appointment of the Chairman of the Board of Directors, the Vice Chairman, and the formation of committees.

4150 · 03/07/2025 08:05:26 · Announcement #88593 · View on Saudi Exchange

Riyadh Development Company announces the appointment of the Chairman of the Board of Directors, the Vice Chairman, and the formation of committees.

Element List

Explanation

Announcement Detail

With reference to the election of the Board of Directors of Riyadh Development Company by the Extraordinary General Assembly for its new term, which commences on June 25, 2025, for a period of four calendar years ending on June 24, 2029, Riyadh Development Company announces the decision of its Board of Directors for its new term regarding the appointment of the Chairman of the Board of Directors, Vice Chairman, and Secretary of the Board, and the formation of committees, effective July 2, 2025, as follows:

First: Appointing His Highness Prince Dr. Faisal bin Abdulaziz bin Ayyaf as Chairman of the Board of Directors (non-executive member) and Dr. Ibrahim bin Saad Al-Muajjil as Vice Chairman of the Board of Directors (independent member). The Secretary of the Board has also been appointed for the new term, effective July 2, 2025.

Second: Forming the Remuneration and Nominations Committee from the following members:

1- Mr. Abdulrahman bin Ayed Al-Qahtani (Independent Member) as Chairman

2- Mr. Osama bin Fareej Al-Owaidi (Independent Member) as Member

3- Dr. Fahd bin Musa Al-Zahrani (Member from outside the Board) as Member

Third: Forming the Executive Committee from the following members:

1- Mr. Majed bin Nasser Al-Subaie (Independent Member) as Chairman

2- Dr. Ibrahim bin Saad Al-Moajil (Independent Member) as Member

3- Mr. Naif bin Ibrahim Al-Hadithi (Independent Member) as Member

Fourth: Appointing the company's representatives to the Capital Market Authority, the Saudi Stock Exchange (Tadawul), and the Securities Depository Center Company (Edaa) for all purposes related to the implementation of the Capital Market Law and its Implementing Regulations.

It is worth noting that the Board of Directors has also formed the Audit Committee for its new term, which will be announced in a separate announcement and in accordance with the relevant disclosure requirements. The Board of Directors' decision to form the aforementioned committees and the Audit Committee is effective from July 2, 2025. The terms of these committees will end with the end of the Board of Directors' four-year term, which ends on June 24, 2029. In this regard, the Board thanked the members whose terms on the Board and committees have expired for their appreciated efforts and wished them continued success.

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.