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LIVA Insurance Company Announces the opening of the nomination period for the Board of Directors’ Membership for the Next Term
| Element List | Explanation |
|---|---|
| Introduction | LIVA Insurance Company is pleased to announce to its shareholders the opening of the nomination of the company’s Board of Directors for the next three-years term that will start on 16/11/2024G and ending on 15/11/2027G. For candidates who meet the membership conditions and qualifications according to the procedures for nominating / appointing new members to the Board of Directors (attached) which is approved by the company’s general assembly within the governance guide and in accordance with the rules and procedures stipulated in the Companies Law, CMA Corporate Governance Regulations issued by the Capital Market Authority and Insurance Authority and the Requirements for Appointments to Senior Positions in financial institutions under the supervision of the Insurance Authority, and as required by all applicable regulations in this regard. |
| Type of Assembly | New Session |
| Term Start Date | 2024-11-16 |
| Term End Date | 2027-11-15 |
| Number of members | 11 |
| Nomination Start Date | 2024-07-02 Corresponding to 1445-12-26 |
| Nomination End Date | 2024-08-02 Corresponding to 1446-01-27 |
| Applications Submission Method | The applications and their attachments must be received by the Shareholders' Department through hand delivery, during official working hours at the following address: Grand Tower Belding, kind Fahad Roed, Al Muhammadiyah District, Riyadh City. For further inquiries, please contact the Shareholders Affairs Department during official working hours at: Name: Bader Attallah AlAnazi Mobile Number: +966555844159 Phone: +966 11 4651520 Ext: 1017 Name: Hani Ibrahim Aleidi Mobile: +966561111096 Phone: +966 11 4651520 Ext: 1018 |
| Policy and criteria of nomination | 1. Submitting the request to the company's management including the nominee's resume, qualifications, and experience in the insurance sector. 2. It is required for any nominee that held the position of board member in any public company to provide the following information: a- The number of Board of Directors meetings that took place during all of the years of the term and the number of meetings that the member attended and the percentage of attendance. b- The continuous committees that the member participated in, and the number of meetings held for each of these committees during each year of the term. 3. A list of all public companies that he still is a board member of. 4. A list of companies or establishments that he manages or owns and is engaged in business related to the company's business. 5. Completing the Fit and Proper form issued by Insurance Authority, which can be found on Insurance Authority website: https://www.ia.gov.sa/Licenses/Apply.html 6. Completing form (3) issued by Capital Market Authority, which can be found on CMA's website: https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx 7. The nominee shall not be a member of the board of directors of any other insurance and/or reinsurance Company. 8. The nominee shall not hold membership in more than five boards of public companies at one time. 9. It is not allowed, except after written approval from the Insurance Authority, for a person who had held similar position in a liquidated Company to nominate himself. 10. To be attached with the application, a clear copy of the national ID, family record and the phone numbers of the nominees. |
| 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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