Thursday, 25 July 2024

Saudi Cable Recommends Removal of Two Board Members


Saudi Cable Company announced on Wednesday that the Board of Directors, following a recommendation from the Nominations and Remuneration Committee, has decided to propose to the General Assembly the termination of the membership of Mr. Ziad bin Abdul Latif Albarrak and Mr. Nael bin Sameer Fayez from the company’s Board of Directors. This decision aims to protect the interests of the company and its shareholders.

The committee’s recommendation was based on the members’ objections to board decisions intended to safeguard the company’s interests and shareholders.

According to the statement published today on Tadawul, the company will provide a comprehensive report detailing the reasons for the proposed dismissals to the General Assembly before the vote, in accordance with disclosure rules.

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