| Element List | Explanation |
|---|---|
| Introduction | MOLAN STEEL Co. announces that the Board of Directors has issued a resolution by circulation approving the resignation of Vice Chairman Eng. Bandar bin Ibrahim Al-Odhaibi (Non-Executive Member) from his positions as Vice Chairman and Board Member, effective 09 April 2026, for personal reasons. The Board of Directors commends Eng. Bandar bin Ibrahim Al-Odhaibi for his efforts throughout his tenure on the Board, wishing him continued success. The Board of Directors has also issued a resolution by circulation appointing Mr. Majid bin Ibrahim Al-Odhaibi (Non-Executive Member) as a Board Member, effective 09 April 2026, to complete the remaining statutory term of the current Board cycle, which expires on 10 July 2027. The Board of Directors has further issued a resolution by circulation appointing Mr. Majid bin Ibrahim Al-Odhaibi as Vice Chairman of the Board of Directors for the remaining term of the current cycle. |
| Element List | Explanation |
|---|---|
| Resigned Member Name | Eng. Bandar bin Ibrahim Al-Odhaibi |
| Membership Type | Non- Executive |
| Resignation Submission Date | 2026-04-09 Corresponding to 1447-10-21 |
| Resignation Effective Date | 2026-04-09 Corresponding to 1447-10-21 |
| Membership Starting Date for the Resigned Member | 2021-07-11 Corresponding to 1442-12-01 |
| Reasons of Resignation | Personal Reasons |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Majid bin Ibrahim Al-Odhaibi |
| Membership Type | Non- Executive |
| Membership Start Date | 2026-04-09 Corresponding to 1447-10-21 |
| Brief Resume of the Appointed Member | Mr. Majed Ibrahim Al-Odhaibi has over eighteen years of experience spanning investment management, business administration, and contracting, with a career that has encompassed both the investment and operational sectors. He has held several leadership positions, including Managing Director of Ibrahim Al-Odhaibi Sons Contracting Company, Acting Manager of Siyada Al Ammar Company, and Chairman of the Board of Directors of Dar Al Takamol Holding Company. He currently serves on the boards of several entities. His academic background, represented by a Bachelor's degree in Business Administration, has reinforced his management and investment acumen. |
| 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 | 2026-04-09 Corresponding to 1447-10-21 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
| Attached Documents | Attached Documents |
