Riyadh – Mubasher: Wajd Life Trading Company announced an update regarding the nomination process for its board of directors, increasing the total number of vacant seats to three.

This adjustment follows the company’s previous decision to cancel the membership of two independent board members.

The update serves as a supplement to the company’s initial announcement regarding the opening of board nominations, which was published on 29 March 2026.

According to the disclosure, the procedures and requirements for the nomination of these three vacancies remain unchanged and will follow the criteria established in the original announcement.

The company, which has a capital of SAR 12.50 million, maintains a board structure of seven members.

Under its internal policies, at least 30% of the board must be independent members, or a minimum of 2 members, whichever is higher.

Candidates are restricted from holding more than five board positions in listed companies simultaneously.

Wajd Life confirmed that all nomination applications will be reviewed by the nominations and remuneration committee to ensure compliance with Saudi regulatory standards.