Saudi German Health declares resignation of 6 board members

One of the hospitals of Saudi German Health

Middle East Healthcare Co. (Saudi German Health) announced the resignation of six board members and the audit committee, which were submitted today, May 21, effective immediately.
 

This includes:
 

1- Sobhi Abduljalil Ibrahim Batterjee (Chairman of the Board – Non-Executive Member).
 

2- Makarem Sobhi Abduljalil Batterjee (Vice Chairman of the Board – Non-Executive Member).
 

3- Amr Mohammed Khalid Khashoggi (Board Member and Chairman of the Audit Committee – Independent Member).
 

4- Mohammed Mustafa Mohammed Omar bin Siddiq (Board Member and Chairman of the Nomination and Remuneration Committee – Independent Member).
 

5- Sultan Sobhi Abduljalil Batterjee (Board Member – Non-Executive Member).
 

6- Ahmed Mohammed Khalid Al-Dahlawi (Audit Committee Member – External Member).
 

In a statement to Tadawul, the company affirmed its commitment to maintaining its normal business operations and safeguarding the interests of its shareholders.
 

It also stressed that the aforementioned decision does not result in any material financial impact on the company or its financial position, and the necessary procedures will be taken to elect new Board members.
 

The resignation comes in response to the Capital Market Authority’s (CMA) decision convicting and fining a number of the company’s board members, and banning them from working in entities supervised by CMA for one year, with the exception of Mohammed Mostafa Mohammed Omar Bin Siddiq, who was banned for a period of six months.