Sadirat’s OGM to vote on Saleh Al-Rasheed’s dismissal on April 9

Logo of Saudi Industrial Export Co. (Sadirat)

Shareholders of Saudi Industrial Export Co. (Sadirat) will vote on the dismissal of board member Saleh Ghadeer Saleh Al-Rasheed, following a request from shareholders holding more than 10% of the company’s capital, at the ordinary general meeting (OGM) slated on April 9.

The company stated on Tadawul that the request to remove the board member was due to the non-disclosure in Q3 2025 financial statements of certain cases and contracts mentioned in the rights issue prospectus for the company’s capital increase, given Al-Rasheed’s membership in the audit committee.

In addition, he had an indirect interest in Nama Chemicals when the board approved a SAR 70 million investment in the FAAD Industrial Fund to acquire a stake in Jubail Chemical Industries Co. (JANA), wholly owned by Nama Chemicals, without disclosing the conflict of interest at the time of the announcement.

According to available data with Argaam, the request follows a letter from shareholders holding over 10% of the capital, calling for a general assembly to vote on Al-Rasheed’s removal.