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Thob Al Aseel Co. Announces Calling Candidature for Board Members Elections

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ALASEEL
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1445/10/07     16/04/2024 15:59:30

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IntroductionThob Al-Aseel Company announces to its esteemed shareholders the opening of nominations for membership in the company’s Board of Directors in accordance with the controls stipulated in the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority, whose business cycle begins on September 4, 2024 and ends on September 3, 2027 for a period of three years, in order to select five members, provided that at least two independent members are among them according to the definition of the independent member stipulated in the Corporate Governance Regulations issued by the Capital Market Authority.

The candidacy for membership of the Board of Directors for the next session will be in accordance with the provisions contained in the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the policies, standards and procedures for membership of the Board of Directors approved by the General Assembly (attached). • The nominated members will be elected at the General Assembly meeting, the date of which will be announced later - God willing - after obtaining the necessary approvals from the relevant authorities.

Those who wish to nominate themselves for membership in the Board of Directors, and who meet the conditions and qualifications for membership, must submit their nomination applications within the period specified in the announcement and in accordance with the attachments and details of this announcement.

Type of AssemblyNew Session
Assembly Start Date2024-09-04 Corresponding to 1446-03-01
Assembly End Date2027-09-03 Corresponding to 1449-04-02
Number of members5
Application Start Date2024-04-17 Corresponding to 1445-10-08
Application End Date2024-05-18 Corresponding to 1445-11-10
Applications Submission MethodAll the required documents and attached forms before the end of the nomination period shown in the announcement shall be sent to the Nomination and Remuneration Committee via e-mail:

NR@Alaseel.com

Policy and criteria of nominationThe candidate must fulfill the conditions for candidacy for membership in the Board of Directors contained in the relevant rules and regulations and in accordance with the following:

1- Fulfilling the conditions and standards for membership in the Board of Directors contained in the Policy for Standards of Membership Procedures in the Board of Directors approved by the General Assembly (attached).2- Submit a signed nomination request letter in the attached format addressed to the Nominations and Remuneration Committee stating his desire to be nominated during the announcement period specified above, provided that the letter is accompanied by his CV, qualifications, and experience in the company’s field of business. (attached)

3- - Fill out Form (1) CV. (attached)

4- Fill out and sign Form No. (3) issued by the Capital Market Authority to nominate for membership in the Board of Directors. (Attached). The form can be obtained through the Authority’s website www.cma.org.sa

5- Providing a statement of the number and date of memberships in the boards of directors of joint-stock companies, and the committees of which he served or continues to serve.

6- Submitting a statement of the companies or institutions in which he participates in management or ownership and which conduct business similar to the company’s business.

7- Attach a clear and valid copy of the national ID card, family card, or commercial registry for companies and institutions, in addition to the candidate’s contact numbers, and attach a personal photo of the candidate.

8- The candidate who previously served as a member of the Board of Directors of Thob Al-Aseel Company must attach to the nomination notification a statement from the company’s management regarding the last session in which he served as a member of the Board, including the following information:

a. The number of Board of Directors meetings that took place during each year of the term.

b. The number of meetings that the member attended in person, and his percentage of attendance at the meetings.

c. The permanent committees in which the member participated, the number of meetings held by each of those committees during each year of the session, the number of meetings he attended, and his percentage of attendance in total meetings.

9- Fill out the form to verify the symptoms of independence for the nominated member. (attached)

All documents and certificates supporting what is stated in the candidacy application must be in Arabic, and certified by official authorities, and the candidate must provide a certified Arabic translation of any documents or documents written in a foreign language.

You must review the relevant laws and regulations, including those issued by the Capital Market Authority, and ensure that they are met, and the candidate bears responsibility for this.

The Nominations and Remuneration Committee will study the applications of the candidates received, noting that voting in the General Assembly will be limited to those who nominated themselves for Board membership In accordance with the recommendations of the Nominations and Remuneration Committee.

Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange
Attached Documents        

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 5.05
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Value Traded (Sar) 4,010,693.12
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