| Element List | Explanation |
|---|---|
| Introduction | Fad International Company announces that its Board of Directors, in its meeting held on May 24, 2026, approved the resignation of its Chairman, Mr. Mohammed Abdulrahman Momenah (Independent Member), which he submitted on May 21, 2026. This decision was based on the reasons stated in his resignation letter regarding the issuance of the Appeals Committee for Securities Disputes Decision No. (4254/L.S/2026) of 1447 AH, which prohibits him from working for any entity subject to the supervision of the Capital Market Authority for a period of one year. The members of the Board of Directors extend their thanks and appreciation to Mr. Mohammed Abdulrahman Momenah for his efforts and contributions during his tenure on the Board and wish him continued success. The Board also approved the appointment of Mr. Ayman Tariq Jamal (Independent Member) as Chairman of the Board, effective May 24, 2026. The Council also approved the appointment of Mr. Nafiz Riyad Al-Morhabi (Independent Member) as Vice Chairman of the Board of Directors, effective May 24, 2026. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Mr. Mohammed Abdulrahman Moumena |
| Membership Type | Independent |
| Resignation Submission Date | 2026-05-21 Corresponding to 1447-12-04 |
| Resignation Effective Date | 2026-05-21 Corresponding to 1447-12-04 |
| Membership Starting Date for the Resigned Member | 2025-05-26 Corresponding to 1446-11-28 |
| Reasons of Resignation | Based on the decision of the Appeals Committee for the Resolution of Securities Disputes No. (4254/L.S/2026 of 1447 AH) Regarding his prohibition from working in entities subject to the supervision of the Capital Market Authority for a period of one year. |