Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Health) has announced the immediate resignation of six high-ranking board and committee members effective 21 May 2026, according to a bourse filing.
Stepping down from their positions follows a legal ruling by the Appeal Committee for the Resolution of Securities Disputes (ACRSD) that prohibits the individuals from holding positions in entities regulated by the Saudi Capital Market Authority (CMA).
The resignations involve the core of the company’s leadership, including the board of directors’ Chairman Sobhi Abduljalil Ibrahim Batterjee and Vice Chairman Makarem Sobhi Abduljalil Batterjee.
The officials had been serving in their current capacities since their appointment on 17 September 2023.
They are joined by Sultan Sobhi Abduljalil Batterjee, also a non-executive director, as well as Amr Mohammed Khalid Khashoggi who is an independent director and Chairman of the Audit Committee.
The resignations extend to the company’s oversight committees, with Mohammed Mustafa Mohammed Omar bin Siddiq, an independent director and Chairman of the Nomination and Remuneration Committee, in addition to an external member of the Audit Committee, Ahmed Mohammed Khalid Al Dahlawi.
The company clarified that these resignations were necessitated by Decision No. 4254/L.S/2026 issued by the ACRSD.
The ruling imposes a ban on the named individuals from working in any entity subject to the supervision of the Capital Market Authority (CMA).
For the majority of the resigning members, the prohibition is set for a duration of one year. However, the ban for Bin Siddiq is limited to a six-month period.
Despite the scale of the leadership changes, Saudi German Health has moved to reassure its investors and the broader market regarding its stability. The company stated that its operational activities will continue as usual and that it remains focused on maintaining the interests of its shareholders.
Management further emphasized that the departures are not expected to result in any material financial impact on the company’s performance or its overall financial position.
The company is expected to announce further details regarding the nomination and election process in subsequent disclosures.
