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International Company for Water and Power Projects (ACWA Power) Announces Calling Candidature for Board Members Elections for the Next Session

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IntroductionThe International Company for Water & Power Projects (‘ACWA Power’ or the ‘Company’) announces the opening of the nomination for the membership of the Board of Directors for the next term, which will commence 05/January/2022 AD and for a period of three Georgian years ending on 04/January/2025 AD

The candidacy for membership of the Board of Directors shall be in accordance with the provisions contained in the Saudi Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority (‘CMA’), the provisions of the Company’s Articles of Association and the Selection Policy which was approved by the Company’s General Assembly.

Individuals who wish to nominate themselves for membership of the Board of Directors, who meet the conditions and qualifications for membership, must submit their candidacy applications within the period specified in the announcement and in accordance with the details provided below.

Voting will take place to elect the nominated members at the next General Assembly meeting, the date .of which will be announced later

Type of AssemblyNew Session
Assembly Start Date2022-01-05 Corresponding to 1443-06-02
Assembly End Date2025-01-04 Corresponding to 1446-07-04
Number of members11
Application Start Date2021-11-01 Corresponding to 1443-03-26
Application End Date2021-12-01 Corresponding to 1443-04-26
Applications Submission MethodPlease note that any application that does not meet the below conditions will not be considered.

Original nomination applications must be submitted either by personal delivery in a sealed envelope with the name of the Secretary of the Nomination and Remuneration Committee during official working hours or by an internationally recognized courier service (e.g. FedEx, DHL, etc.), to the Secretary of ACWA Power’s Nomination and Remuneration committee before the application end date.

All nominations submitted pursuant to the preceding paragraph shall be sent to:

Attn: NRC Secretary of ACWA POWER

The Business Gate

Ground floor, Building number A1

King Khaled International Airport Road

P.O. Box 22616,

Riyadh 11416

Kingdom of Saudi Arabia

Application RequirementsThe candidacy will be in accordance with the provisions contained in the Saudi Companies Law, issued by the Ministry of Commerce (MoC) and the Corporate Governance Regulations issued by the Capital Market Authority (‘CMA’), in addition to the Selection Policy for the membership of the Board of Directors and the sub-committees which has been approved by the General Assembly, provided that all the following documents are attached:

- A clear and valid copy of the national identity card, family card and passport (for non-Saudis)

- Signed Copy of the attached Declaration

- Signed copy of the attached optional disclosure form-not mandatory.

In line with the provisions of the Corporate Governance Regulations, any Board nominee should disclose to the Board and the General Assembly any Conflict of Interest, in accordance with the procedures prescribed by the CMA. This includes, but is not limited to:

1. Having a direct or indirect interest in the business and/or contracts that are made for the Company.

2. Participating in a business which is a Competitor of the Company.

The nomination forms must be completed and personally signed by the candidate.

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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