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Nama Chemicals Company announces the opening of candidacy for membership of the Board of Directors

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IntroductionNama Chemicals Company announces the opening of the nomination for membership of its board of directors for the next session, which starts from February 17, 2022 and until February 18, 2025 (for a period of three years). The nominations will be in accordance with the provisions of the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority in addition to the policy of criteria and procedures for membership in the Board of Directors approved by the General Assembly. The nominated members will be elected at the next General Assembly meeting , whose date will be announced later, the necessary approvals from the concerned authorities.
Type of AssemblyNew Session
Assembly Start Date2022-02-17 Corresponding to 1443-07-16
Assembly End Date2025-02-18 Corresponding to 1446-08-19
Number of members8
Application Start Date2021-10-21 Corresponding to 1443-03-15
Application End Date2021-11-21 Corresponding to 1443-04-16
Applications Submission MethodCandidates applications and their attachments and forms below shall be sent during the nomination period indicated in the announcement during the official working hours (from 7:30 AM to 4:00 PM) by any of the following methods:

• Nomination applications and their attachments are sent to the company's headquarters in a sealed envelope delivered to the Nominations and Rewards Committee.

• Or by email (rem.committee@nama.com.sa )

Application Requirements1. Satisfying the general conditions for membership in the Board of Directors and the requirements for candidacy contained in the policies, standards and procedures for membership in the Board of Directors approved by the company’s general assembly. (attached)

2. The candidate must also provide the company, within the period specified in the announcement, with the following:

• Submitting application form signed by the applicant.

• Submitting form (1) in both Arabic and English (attached).

• The candidate's resume, explaining his bio data, qualifications and experience, in both Arabic and English.

• Submit a signed copy of disclosure form No. (3) issued by the Capital Market Authority for candidacy for membership of the Board of Directors (attached) in both Arabic and English. The form can also be obtained through the website of the Capital Market Authority.

• Attach a copy of the academic qualification.

• The candidate who has previously served as a member of the company's board of directors, must attach a statement from the company's management about the last term in which he became a board member, including the number of board meetings that took place during each year of the term, the number of meetings the member attended on his own and the percentage of his attendance of the total meetings , as well as a statement of the permanent committees in which the member 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.

• Summary of the financial results achieved by the company during each year of the session.

• Attach a clear and valid copy of the national identity card for individuals, as well as the family record (for the married person), and a copy of the passport for non-Saudis, or a copy of the commercial register for legal entities that wish to nominate representatives.

• The candidate who had previously served as a member of the board of directors of a joint stock company must indicate the number and date of his membership in the board of directors of joint stock companies and the committees he had been a member of.

• A list of the joint stock companies that he still holds membership in.

• A list of the companies and institutions that are jointly managed or owned and that carry out business similar to that of the company.

3. The candidate shall disclose to the Board and to the General Assembly any cases of conflict of interest - in accordance with the procedures established by the Authority - including:

• Having a direct or indirect interest in the business and contracts that are made for the account of the company that he wishes to run for its board of directors.

• His participation in a work that would compete with the company or its competitors in one of the branches of the activity that he is engaged in.

Note, when choosing between candidates, the diversity of scientific qualifications and practical experience of the candidate will be considered and will give priority in the nomination to persons with the appropriate skills that should be available in a member of the Board of Directors and fulfill the requirements for candidacy, and voting in the General Assembly will be limited to those who the requirement 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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Value Traded (SAR) Volume Traded
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