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Al Hassan Ghazi Ibrahim Shaker Co. announces the opening of the nomination period for the board of director’s membership
| Element List | Explanation |
|---|---|
| Introduction | Al Hassan Ghazi Ibrahim Shaker Company announces the opening of nominations for membership on the Company’s Board of Directors for the upcoming term, which will begin on May 25, 2025, and will last for four calendar years, ending on May 24, 2029. The nomination will be in accordance with the regulations and procedures outlined in the provisions of the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority, and the relevant executive regulations, in addition to the Company’s Articles of Association and the Board Membership Policies, Criteria, and Procedures. Candidates who wish to nominate themselves for membership on the Board of Directors and meet the membership criteria and requirements are requested to submit their nomination applications within the specified period and according to the details provided in this announcement. |
| Type of Assembly | New Session |
| Term Start Date | 2025-05-25 |
| Term End Date | 2029-05-24 |
| Number of members | 7 |
| Nomination Start Date | 2025-02-05 Corresponding to 1446-08-06 |
| Nomination End Date | 2025-03-07 Corresponding to 1446-09-07 |
| Applications Submission Method | The nomination application and its attachments, after fulfilling all its requirements, should be submitted via the following email address: RNCS@shaker.com.sa |
| Policy and criteria of nomination | The nomination will be in accordance with the provisions of the Companies Law, its executive regulations, the Corporate Governance Regulations issued by the Capital Market Authority, and the Board Membership Policies, Criteria, and Procedures approved by the General Assembly. Nominees must fulfill the following requirements: 1. Fulfillment of the general conditions for Board membership and the nomination requirements outlined in the Board Membership Policies, Criteria, and Procedures approved by the company’s General Assembly. (Attached) 2. An individual wishing to nominate themselves for membership on the Board of Directors must disclose their intention by completing the Board Membership Nomination Form as per the attached document within the specified period, along with all the required documents. (Attached) 3. Complete and sign Form No. (1) issued by the Capital Market Authority (CV) in both Arabic and English. (Attached) 4. Complete and sign Form No. (3) issued by the Capital Market Authority for Board membership nomination, specifying the type and nature of membership, and disclose to the Board of Directors and the General Assembly any conflicts of interest according to the procedures established by the Capital Market Authority. (Attached) The form can be obtained from the CMA website at the following link: https://cma.org.sa/RulesRegulations/FormsSite/Documents/Form3.doc. 5. Submit a statement containing the names of the companies or institutions in which the nominee has a management or ownership interest, and that compete with the company’s business activities (if applicable). 6. The nominee must attach a copy of their national ID card, family card (if applicable), and any other relevant documents required by the company to fulfill legal requirements. The Nomination and Remuneration Committee will review the nominations received. The committee will exclude any incomplete applications. and will also exclude any nominee who does not meet the membership conditions and criteria outlined in the company’s Board Membership Policies, Criteria, and Procedures. |
| 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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