Alujain Holding Corp. announced the resignation of audit committee member Jassim Shaheen Al-Rumaihi, effective Feb. 12, according to a statement to Tadawul.

 

The resignation was submitted due to applying Article 51 (Paragraph G) of the Corporate Governance Regulations issued by the Capital Market Authority (CMA), which stipulates that it is required that the audit committee member must not be a member of audit committees in more than five listed joint stock companies at the same time.

 

Alujain’s board of directors approved the appointment of Omar AlKhowaiter as replacement, as of Feb. 12 until the end of the current session on June 14, 2023.

 

The move is pending the approval of the upcoming general meeting.

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