Arabian Drilling says board term termination in line with new Companies Law
30/09/2025
Argaam
Logo of Arabian Drilling Co.
Arabian Drilling Co. said that the board of directors’ recommendation to end the current board term complies with the company’s recently amended bylaws and the new Companies Law.
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The new law stipulates that a board term must not exceed four years, the company said in a statement to Tadawul.
On Sept. 27, the board of directors recommended early termination of its current term, which commenced on Nov. 1, 2021, and was scheduled to end on Nov. 2, 2026, according to data available with Argaam.
The board term will be adjusted to begin on Nov. 2, 2025, and end on Nov. 1, 2029, for a four-year duration.
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