Sadirat says 2 resigned members to stay on board

Saudi Industrial Export Co. (Sadirat) announced today, Dec. 3, that Saleh Al-Rashed and Khalid Al-Noisear—whose resignation was disclosed in November—will continue their board memberships.

In a statement to Tadawul, Sadirat said this is in accordance with Article 69 of the Companies Law, which states: "If the conditions necessary for a valid meeting of the board of directors are not met due to the number of members falling below the minimum stipulated in the law or the company's Articles of Association, the remaining members must convene the ordinary general assembly within 60 days to elect the required number of members."

In November, Sadirat announced the resignations of Chairman Hatem Barajjash, along with board members Al-Rashed and Al-Noisear, for personal reasons, Argaam reported.