Lazurde Company for Jewelry Announces Resignation and Appointment Audit Committee Member
| Element List | Explanation |
|---|---|
| Introduction | L'azurde announces that the Board of Directors has accepted today Tuesday, December 10th 2019 at 3:00 pm, the recommendation of the Nominations and Remuneration Committee to appoint Mr. Khalifa Hassan Khalifa Al Jalahma, as a temporarily Audit Committee Member, effectively from December 10th 2019 till the end of current board term on 25 April 2021.
At the same meeting, the Board of Directors has accepted resignation letter dated October 31, 2019, from Mr. Sunil Bhilotra, Audit Committee member, for purpose of resignation from Audit Committee membership for personal reasons. The resignation is effective on December 10th 2019. |
| Element List | Explanation |
|---|---|
| Name of Resigning Member | Mr. Sunil Bhilotra |
| Resignation Submission Date | 2019-10-31 Corresponding to 1441-03-03 |
| Resignation Effective Date | 2019-12-10 Corresponding to 1441-04-13 |
| Reasons for Resignation | Personal Reasons |
| Resigning Member Start Date | 2018-12-11 Corresponding to 1440-04-04 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Khalifa Hassan Khalifa Al Jalahma |
| Membership Start Date | 2019-12-10 Corresponding to 1441-04-13 |
| Brief Resume of the Appointed Member | Mr. Khalifa Hassan Khalifa Al Jalahma, currently occupies the role of Vice President, Private Equity - MENA region at Investcorp Financial Services "BSC", since October 2010. Previously Khalifa occupied position of Analyst, Investment Banking of Citigroup Global Markets Limited, Dubai, UAE and London, United Kingdom, 2008 to 2010. Khalifa holds M.B.A in Finance, and bachelor degree in corporate finance and accounting at Bentley University located in USA. |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2019-12-10 Corresponding to 1441-04-13 |
| Board Approval | Board Approval May not be Deemed Final, this Appointment Shall Be Put before the First General Assembly Meeting for Approval |
| Additional Information | The Board of Directors has approved the appointment of temporarily audit committee member pursuant to the articles stipulated in Company's bylaw, Companies' law and audit committee charter that relevant to appointment a temporary member, when a seat becomes vacant.
The Chairman of the Board of Directors Mr. Mohammed Ebrahim Al Shroogi, the Board Members, and the L'azurde management would like to thank Mr. Sunil Bhilotra for his remarkable contributions during his term of membership on the Audit Committee and we wish him all the best and success. |
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