| Element List | Explanation |
|---|---|
| Introduction | Naf Company for Feed for Industry ("Company") announces the resignation of the Chairman of the Audit Committee, Mr. Abdullah Suleiman Khalifa Al-Khalifa, who submitted his resignation from both membership and chairmanship of the Audit Committee on 17/10/1447H (corresponding to 05/04/2026G), effective from the same date. This resignation follows his recent appointment as Managing Director of the Company (executive role), which is inconsistent with the requirements of the Corporate Governance Regulations that do not permit executive board members to serve on the Audit Committee. The resignation was accepted by the Board of Directors through a circular resolution issued on 17/10/1447H (corresponding to 05/04/2026G). He will, however, retain his position as a member of the Board of Directors in his capacity as a managing director (executive member). The Board of Directors has also resolved, through the same circular resolution dated 17/10/1447H (corresponding to 05/04/2026G), to appoint Mr. Abdullah Mohammed Abdullah Al-Ghufaili (an external board member) as Chairman of the Audit Committee, to complete the remaining term of his predecessor until the end of the current committee’s tenure. The Board of Directors extends its sincere appreciation and gratitude to Mr. Abdullah Suleiman Khalifa Al-Khalifa for his efforts during his tenure as a member and Chairman of the Audit Committee. The Board also wishes Mr. Abdullah Mohammed Abdullah Al-Ghufaili success in his membership and chairmanship of the Audit Committee. |
| Element List | Explanation |
|---|---|
| Name of Resigning Member | Abdullah Suleiman Khalifa Al-Khalifa |
| Resignation Submission Date | 2026-04-05 Corresponding to 1447-10-17 |
| Resignation Effective Date | 2026-04-05 Corresponding to 1447-10-17 |
| Reasons for Resignation | Due to his recent appointment as Managing Director of the Company (executive role), which is inconsistent with the Corporate Governance Regulations that do not permit executive board members to serve on the Audit Committee. |
| Resigning Member Start Date | 2024-11-29 Corresponding to 1446-05-27 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Abdullah Mohammed Abdullah Al-Ghufaili |
| Membership Start Date | 2026-04-05 Corresponding to 1447-10-17 |
| Brief Resume of the Appointed Member | Holds several accredited professional certifications in administrative development and risk management. He has over 20 years of leadership and executive experience in managing organizations, strategic planning, and quality control. He currently serves as Chief Executive Officer of Al-Diyar Investment Company and holds several leadership positions and board memberships, including chairing some of them, in addition to serving on various specialized committees. |
| The date of the approval by other official authorities | Not applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2026-04-05 Corresponding to 1447-10-17 |
| Additional Information | None |
