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Molan Steel Co. Announces Calling Candidature for Board Members Elections
| Element List | Explanation |
|---|---|
| Introduction | Molan Steel Co. announces to its shareholders the opening of nominations for membership on the Board of Directors for the new session, which begins on the 11th of July 2024 and for three years, ending on the 10th of July 2027. The current session will end for the Board members on the 10th of July 2024. The nomination process will be conducted according to the regulations stipulated in the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority of Saudi Arabia, as well as the regulations, policies, standards, and procedures for membership in the Board of Directors and its subcommittees approved by the General Assembly of Shareholders. The election of members will take place during the upcoming General Assembly meeting, the date of which will be announced later. |
| Type of Assembly | New Session |
| Assembly Start Date | 2024-07-11 Corresponding to 1446-01-05 |
| Assembly End Date | 2027-07-10 Corresponding to 1449-02-06 |
| Number of members | 5 |
| Application Start Date | 2024-04-17 Corresponding to 1445-10-08 |
| Application End Date | 2024-05-16 Corresponding to 1445-11-08 |
| Applications Submission Method | To complete the nomination process, please submit your complete nomination applications during the official working hours of the company, and before the nomination deadline, by sending them to one of the following addresses: 1. Company Headquarters (Google Maps): https://maps.app.goo.gl/bP4kQmk7XmuukBr36?g_st=ic 2. Email: contact@molansteel.com |
| Policy and criteria of nomination | The nomination 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 regulations of policies, standards and procedures for membership in the Board of Directors and the emerging committees approved by the General Assembly of the shareholders, provided that it complies with the following conditions: 1- Commitment to the policies and standards of Board of Directors membership approved by the General Assembly. (attached) 2- Submit an application signed by the candidate expressing his welling to be a member of the Board of Directors. (attached) 3- Fill out and sign Form No. (3) issued by the Capital Market Authority. (attached) 4- Fill out the CV form by the candidate. (attached) 5- Attach a clear copy of valid national ID for individuals and the residence number and passport for non-Saudis. 6- Certified Arabic translation of any documents or documents written in a foreign language The company's management will study the applications of candidates received during the period specified for nomination Note that voting in the General Assembly will be limited to those who nominated themselves for Board membership in accordance with the policies, standards and procedures for membership in the Board of Directors. |
| 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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