| Element List | Explanation |
|---|---|
| Introduction | Seera Group Holding announces the resignation of Board Member and Chairman of the Nominations and Remunerations Committee, Mr. Eid bin Faleh AlShamri, from his membership in the Board of Directors and the Nominations and Remunerations Committee, effective 13/02/1447H corresponding to 07/08/2025G. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Eid Faleh Alshamri |
| Membership Type | Independent |
| Resignation Submission Date | 2025-08-07 Corresponding to 1447-02-13 |
| Resignation Effective Date | 2025-08-07 Corresponding to 1447-02-13 |
| Membership Starting Date for the Resigned Member | 2024-03-29 Corresponding to 1445-09-19 |
| Reasons of Resignation | The resignation letter cited the following reasons:
– Lack of clarity in the company’s medium- and long-term future strategy, which hinders the ability to effectively measure performance and assess risks. – Weak adherence to regulatory procedures in the decision-making process for material matters, which has undermined the principles of governance and transparency, particularly with regard to establishing adequate provisions for certain assets and the related clarifications. – Approval of decisions without sufficient study or objective discussion, raising concerns about such practices and potentially indicating weaknesses in internal controls, especially when related to the sale of certain assets. |
