| Element List | Explanation |
|---|---|
| Introduction | Wajad Life Trading Company announces an update to the number of vacant seats for which nominations will be accepted for membership of the Board of Directors. The total number of vacant Board seats has been updated to three, following the Company's previous announcement regarding the cancellation of the membership of two independent Board members. |
| Previous Announcement | Wajd Life Trading Co. announces the opening of the nomination period for the board of director’s membership |
| Date of Previous Announcement on Saudi Exchange’s Website | 2026-03-29 Corresponding to 1447-10-10 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Further to the Company's previous announcement regarding the termination of the membership of two independent members of the Board of Directors, Wajad life Trading Company announces an update to the number of vacant Board seats open for nomination. Accordingly, the total number of vacant seats on the Board of Directors for which nominations will be accepted has been updated to three. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | - |
| Additional Information | The nomination procedures, eligibility requirements, and conditions for the vacant Board seats shall be in accordance with those set out in the Company's previous announcement regarding the opening of the nomination period for membership of the Board of Directors. |
| Attached Documents | Attached Documents Attached Documents Attached Documents Attached Documents |
Wajd Life Trading Co. Announces an update on Wajd Life Trading Co. announces the opening of the nomination period for the board of director’s membership
AI Summary
- Wajd Al-Hayah for Trade approved the first version of its Board Membership Policy and Criteria during an Extraordinary General Assembly meeting held on January 1, 2026.
- The policy mandates that the Board of Directors shall consist of seven members, with a required majority of non-executive members and at least two (or one-third) of the board serving as independent directors.
- Board candidates are restricted from holding more than five memberships in listed joint-stock companies simultaneously and are prohibited from being government employees.
- Eligibility criteria require candidates to maintain high standards of integrity, barring anyone convicted of financial crimes, market manipulation, or those previously responsible for a company's liquidation due to losses.
