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BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THE START OF THE BOARD NOMINATION PERIOD FOR THE NEW BOARD TERM

8210
BUPA ARABIA
-0.59 %
1446/04/10     13/10/2024 08:11:34

Element ListExplanation
IntroductionBupa Arabia is pleased to announce the opening of Board candidacy nomination period, for a new term of four years, which will start from 1 July 2025G and will end on 30 June 2029G to candidates who meet the qualification conditions according to the company’s Board and Board Committee Member Nomination and Appointment Policy and Procedure (attached) and in according with the provisions and controls of the relevant laws which Include the Corporate Governance Regulations issued by the Capital Market Authority, Insurance Corporate Governance regulations, and the requirements of appointments for Senior Positions in Financial Institutions under the supervision of the Insurance Authority and all applicable regulations in this regard.
Type of AssemblyNew Session
Term Start Date2025-07-01
Term End Date2029-06-30
Number of members9
Nomination Start Date2024-10-13 Corresponding to 1446-04-10
Nomination End Date2024-11-13 Corresponding to 1446-05-11
Applications Submission MethodCandidate should submit a nomination request to the Company Nomination and Remuneration Committee through the following postal address:

P.O. Box 23807 Jeddah, 21436

or Email it to:

invest@bupa.com.sa

Policy and criteria of nomination1. Submit the request to the company, and include the nominee’s resume, qualifications, and experience along with the supporting documents.

2. It is a requirement for any nominee that has held the position of Board Member in any joint stock company to provide the following information:

A. The number of Board of Directors meetings that took place during all the years of the term and the number of meetings that the nominee member attended and the percentage of attendance.

B. The Board Committees that the nominee participated in as a formal Committee member, and the number of meetings held for each of these committees during each year of the term.

C. A brief about the financial results that the company achieved during the nominees Board term.

3. A list of all the joint stock companies that the nominee is still a Board Member of.

4. A list of the companies or establishments that the nominee manages or owns, and wherever the nominee is engaged in business which related to the Company's business.

5. Completing the Fit and Proper form issued by the Insurance Authority:

Insurance Authority | Apply for a License (ia.gov.sa)

6. Completing Form (3) issued by the 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, 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 for individuals, commercial registration for companies and establishments 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

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 201.4
Net Change -1.2 (-0.59%)
Value Traded (Sar) 14,703,997
Volume Traded 72,948
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