Children's Place borrows $15M from Mithaq; CEO Umair resigns, Seemab named interim CEO

Childrens Place, Inc.

Entered $15M Shariah-compliant promissory note with Mithaq Capital SPC; remaining availability under $40M facility reduced to $25M.
Muhammad Umair resigned as President and CEO effective July 6, 2026; remains on board and in negotiations for new role.
Board appointed Muhammad Asif Seemab as President and Interim CEO; Seemab is Managing Director of Mithaq Holding Company.
Seemab's annual cash compensation remains $497,500; no bonus, equity, or severance benefits.
Third Mithaq Term Loan matures April 16, 2031, interest at SOFR + 9% p.a., subordinated to existing credit facilities.

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