Board Meeting no. (9/2021) on April 22, 2021

The Board of Directors held its meeting no. (9) for the year 2021 on Thursday, April 22, 2021 at 4:00 pm at the headquarters of the Riffa Views Company, and issued its decisions according to the items below:

1. Request from the Riffa Views Steering Committee:

The Board Chairman informed the Board that he had received an email dated April 22, 2021, from the Riffa Views Steering Committee. The email contained a letter proposing the signing of a Memorandum of Understanding (MoU) between the Committee and the Association's Board of Directors. The MoU aims to address various provisions concerning the Riffa Views Master Plan and the Master Transport Agreement.

After examining the memorandum and its terms and conditions, the Board expressed its disagreement with several clauses present in the current version. These clauses were found to conflict with the agreements reached during previous meetings held over the past two months. These meetings involved the Board of Directors of the Association, members of the Riffa Views Steering Committee, and members of the Board of Directors of Riffa Views (the Developer).

The Board also acknowledged that the Association's General Assembly meeting is rapidly approaching, scheduled to take place in just a few days on April 24, 2021. In light of this timing, the Board conveyed its unwillingness to enter into any agreements that entail legal obligations so close to the General Assembly. The Board expressed the need for additional time to thoroughly analyze the memorandum before making any decisions.

After discussion, the Board decided to send a response to the Riffa Views Steering Committee, including a revised version of the draft MoU that is subject to discussion and negotiation, and to inform them of the possibility of discussing this after the completion of the AGM of the Association.

The meeting ended at 5:00 pm.