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4worldlovers: The Bin Laden Group Company would like to confirm that it remains a private sector company owned by its shareholders. SBG can also confirm that contracted work with the government, which remains a large part of the SBG's activities are ongoing. This includes the projects currently operating in the two holy mosques, and the rehabilitation project of Zamzam, which began months ago and is expected to end before Ramadan 1439 H.Based on information available to management, some of the shareholders may have agreed a settlement that involves transferring some SBG shares to the goverment of Saudi Arabia against outstanding dues.

SBG sees this as a positive step and is currently restructuring it's governance and executive management team to meet it's commitment towards all stakeholders.

Restructuring efforts started two years ago with the objective of separating ownership from management in accordance with best governance standards to respond to the group growth.

To support that efforts, a supervisory committee was created, which is composed of five members; three independent members: Dr. Abdulrehman Hamad Al-Harkan, HE Dr. Khaled Hamza Nahas, Khaled Mohammed Al-Khowaiter; two members from the shareholders: Yahia Mohammed Binladin and Abdullah Mohammed Binladin. The committee will restructure the group and empower the new executive management to lead the projects and overcome the current challenges; bringing the company to being profitable again.

Chair of Sheikh Mohammed Bin Laden for Research and Studies in Structural Rehabilitation