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Jabal Omar Development Co. Announces Resignation and Appointment of a Board Member

Introduction
Jabal Omar Development Company announces that the Board approved the resignation of Dr. Abdulraouf M. Mannaa, and the appointment of Mr. Saleh Abdullah Alzumai as a member of the Board of Directors. On this occasion, the board extends its sincere thanks to DR. Abdulraouf Mannaa for his efforts during his term of membership in the board and for taking the initiative to resign to serve the best interest of the company and its shareholders. The Board also welcomes Mr. Mr. Saleh Alzumai as a member of the Board of Directors, wishing him success.

Resigned Member Name
Abdulraouf Muhammad Mannaa
Membership Type
Non- Executive

Resignation Submission Date
2022-08-25 Corresponding to 1444-01-27

Resignation Acceptance Date
2022-08-25 Corresponding to 1444-01-27

Resignation Effective Date
2022-08-25 Corresponding to 1444-01-27

Membership Starting Date for the Resigned Member
2021-06-30 Corresponding to 1442-11-20

Reasons of Resignation
To fulfill the conditions of the transaction agreement which was executed with the fund manager of Alinma Makkah Real Estate Fund, on behalf of the Fund, in relation to the Board and governance arrangements.

Appointed Member Name
Saleh Abdullah Alzumai

Membership Type
Independent

Membership Start Date
2022-08-25 Corresponding to 1444-01-27

Brief Resume of the Appointed Member
Mr. Saleh Zumaie is currently a Senior VP and Head of Retail Banking in Alinma Bank. Prior to that, he was the General Manager of Digital and Payments in Al Rajhi Bank. Mr. Saleh holds a bachelor’s degree in English language from Imam Muhammad bin Saud Islamic University.

Date of Board Meeting in which Appointed New Member(s) were Appointed
2022-08-25 Corresponding to 1444-01-27

Board Approval
Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval

Other Disclosures

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Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER%CHANGE Sales/Revenue234.62218.637.31454.46-48.37 Gross Profit (Loss)47.527.98495.49236.68-79.92 Operational Profit (Loss)20.71-92.86-213.38-90.29 Net Profit (Loss) after Zakat and Tax305.46153.1199.5-79.84- Total Comprehensive Income305.46153.1199.5-79.84- All figures are in (Millions) Saudi Arabia, Riyals ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE Sales/Revenue 1,006.17609.9264.97 Gross Profit (Loss)406.4679.49411.33 Operational Profit (Loss)336.22-123.98- Net Profit (Loss) after Zakat and Tax237.55-157.98- […]
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