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Mobile Telecommunication Company Saudi Arabia (Zain) Announces Resignation and Appointment of a Board and Audit Committee Member

ZAIN KSA 7030 0.14% 13.82 0.02

Element List Explanation
Introduction Mobile Telecommunication Company Saudi Arabia (Zain) announces that the Board of Directors have accepted by circulation on 09/12/2018 the resignation of Mr. Thamer Ahmad Obeidat (non-executive) from its Board of directors, as well as the Audit Committee dated 25/11/2018, Where he began his membership for the current term of the Board on 26/04/2016, and appointing in his place Mr. Martial Caratti to the Board (non-executive), as well as the Audit Committee, effective 09/12/2018.

The Chairman of the board of Directors, HH Prince Naif bin Sultan bin Mohammed bin Saud Al Kabeer, and all the members of the Board of Directors express their recognition to Mr. Obeidat for his valuable participation throughout his membership in the Board of Directors, wishing him further success.

The Board approval will not be considered as final and the appointment will be presented to the coming general assembly meeting for approval.

Element List Explanation
Member Name Mr. Martial Caratti
Membership Type Non- Executive
Assignment Start Date 2018-12-09 Corresponding to 1440-04-02
CV of the assigned member Mr. Martial Caratti has been a member of the Board of Directors of Zain Group and Chief Financial Officer Omantel, with over 30 years of experience in the telecommunications industry in the Middle East and Europe.

He began his career in 1986 at NCR France, an Omni-channel technology solution

provider. He continued his career in communications in France, where he served as Chief Financial Officer at a subsidiary of France Telecom from1992 to 1996. In 1996, he became France Telecom Group’s Controller of customer branches and Financial Director at Itineris, part of the France Telecom / Orange Group.

Between 2000-2006, he served as Vice President of Finance - Content Division at Orange Group France, along with the role of Orange International Finance Vice-President in London. In 2007 he joined KAZ Europe as CFO of EMEA region. Thereafter between 2008 and 2015 Mr. Caratti served as CFO for a Tunisian telecom operator. He holds a Bachelor's degree in Finance and Accounting from ESLSCA University in Paris.

Element List Explanation
Date of Board Meeting which Assigned New Member(s) in 2018-12-09 Corresponding to 1440-04-02
Board Approval Board of Directors has approved by circulation
Element List Explanation
Resigned Member Name Thamer Ahmad Obeidat
Membership Type Non- Executive
Resignation Date 2018-11-25 Corresponding to 1440-03-17
Accepting Resignation Date 2018-12-09 Corresponding to 1440-04-02
Resignation Effective Date 2018-12-09 Corresponding to 1440-04-02
Reasons of Resignation Personal Reasons

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