Savola Group — Board/Management Information 2022

Jun 30, 2022

The Savola Group Announces the Appointment of the Chairman, Vice Chairman, and Committees Formation

2050 · 30/06/2022 15:42:10 · Announcement #69129 · View on Saudi Exchange

The Savola Group Announces the Appointment of the Chairman, Vice Chairman, and Committees Formation

Element List	Explanation
Announcement Detail	With reference to the Company’s General Assembly meeting that was held on Monday 16th May 2022 corresponding to 15th Shawal 1443H (according to Umm Al Qura Calendar), in which the new Board of Directors for the new office term that will commence as of 01/7/2022, were elected for a period of three Gregorian years ending on 30/06/2025 that was announced in Tadawul on 17/5/2022.

The Savola Group announces the decision of its Board of Directors related to the appointment of the Chairman, Vice-Chairman and the formation of committees to be effective as 1st July,2022, as follows:

First: The appointment of Mr. Sulaiman A. Al Muhaidib as the Chairman of the Board (Non-executive), Mr. Bader A. Alissa as the Vice Chairman of the Board (Non-executive) and Mr. Elnour Ali Saad as Board Secretary.

Second: Formation of the Remuneration and Nomination Committee from the following members:

1) Mr. Rakan A. Al Fadl (Independent Board Member) as the Chairman of the Committee.

2) Mr. Bader A. Al Issa (Non-executive Board Member) as a member.

3) Mr. Ahmed Waza Al Qahtani (Non-executive Board Member) as a member.

4) Mr. Bader Hamad Al Rabiah (Independent Board Member) as a member.

5) Mr. Johan Brand (external expert) as a member.

Third: Formation of the Investment Committee from the following members:

1) Eng. Mutaz Q. Alazawi (Non-executive Board Member) as the Chairman of the Committee.

2) Mr. Ahmed A. Al Humaidan (Non-executive Board Member) as a member.

3) Mr. Mohammad I. Alissa (Independent Board Member) as a member.

4) Mr. Isam M. Al Muhaidib (Non-executive Board Member) as a member.

5) Mr. Waled A. Al Ghreri (Independent Board Member) as a member.

It is worth mentioning that the Group had previously announced in Tadawul the formation of the Audit Committee membership (AC) that was approved by the General Assembly meeting held on 16/5/2022. The AC new office term will commence as of 1/10/2022.

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.