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Mouwasat Medical Services Co. Announces Calling Candidature for Board Members Elections

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IntroductionMouwasat Medical Services Company announces calling candidature for board members elections for the upcoming session, which begins on 4th of January 2023 and for a period of three years ending on 3rd Of January 2026 in accordance with the Companies Law provisions and the Corporate Governance Regulations issued by CMA and the policies, standards and procedures for board membership approved by the Assembly’s resolution (attached), bearing in mind that the Board Members will be elected for the new session during the next General Assembly meeting, the date of which will be announced at a later stage after obtaining the necessary approvals from the concerned authorities.
Type of AssemblyNew Session
Assembly Start Date2023-01-04 Corresponding to 1444-06-11
Assembly End Date2026-01-03 Corresponding to 1447-07-14
Number of members7
Application Start Date2022-08-25 Corresponding to 1444-01-27
Application End Date2022-09-25 Corresponding to 1444-02-29
Applications Submission MethodThe application submission and its attachments shall be sent to the attention of the Nomination and Remuneration Committee through one of the following methods:

1- Email: Shares@mouwasat.com

2- Registered mail: P.O. Box 7011 Dammam 31462

3- The delivery shall be hand-to-hand to the Secretariat of the Board Members in the corporate head quarter building in Dammam, Saad Bin Abi Waqas Street, Uhud District, at the location shown in this link (https://goo.gl/maps/X313Czd5zgGTKah78).

For any inquiries, please contact the secretariat of the Board Members at the following number:

Phone No.: 013 8196666 Ext. 8045

Application Requirements1st: Candidacy Procedures

1. Submission of an application signed by the candidate expressing his desire to be nominated for the Board membership and includes the following:

• A Brief about the candidate in terms of his resume, qualifications, and experience in the company's business field.

• Clarification of the membership nature (whether he is a representing himself or a representative of a legal person).

• Clarify the capacity of membership (executive member, non-executive member, independent member)

• Disclosure of any cases of conflict of interest that include having a direct or indirect interest in the business and contracts that are made for Mouwasat Medical Services Company and participation in a business that would compete with it in one of its branches of activity.

• Disclosure of any kinship or other relationship with any of the major shareholders of the company, senior executives, or auditors of the company.

• A statement of the number and dates of the boards of directors of joint stock companies and the permanent committees of which he has been a member.

• A statement of the joint stock companies of which he is still a member.

2. If the candidate has previously served as a board member in Mouwasat Medical Services Company, the application for candidacy must be accompanied by a statement from the company’s management about the last session in which he became a board member, including the following:

A. The number of board meetings that took place during each year of the session, the number of meetings he attended in person, and the ratio of his attendance to the total meetings.

B. The permanent committees composed of the board members in which he participated, the number of meetings held by each of those committees during each year of the session, the number of meetings he attended and the ratio of his attendance to the total meetings.

3. Fill out the CMA Form No. 3 (attached), which can also be obtained from the CMA website at the following link: https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx

4. Attach a clear and valid copy of the national identity card for individuals or the commercial register for companies and institutions, in addition to the candidate's contact numbers.

2nd: Candidacy Criteria

1. Every shareholder has the right to nominate himself or another person or more persons for the Board membership, in proportion to the percentage of his title in the capital.

2. The candidate should be of professional competence and possess leadership ability, financial knowledge as well as health fitness.

3. The candidate must not have been previously convicted of a breach of trust.

4. The candidate Not to be a member of the board members of more than five listed companies at the same time.

Noting that the Nominations and Remuneration Committee will consider the diversity of academic qualifications and field experience of the candidate and will give priority in the nomination to those with the appropriate skills that should be available in a member of the Board Members and voting in the General Assembly will be limited to those who nominated themselves in accordance with the controls and requirements mentioned above.

Candidate Conditions
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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