AnnouncementDetails

Actions

Saudi Telecom Company (stc) announces the initiation of nomination for membership of the Board of Directors for its Eighth Term.

Element ListExplanation
IntroductionSaudi Telecom Company –stc- (The Company) announces the initiation of nomination for membership of the Board of Directors for its Eighth term, starting from 28/04/2021 for three years and ending on 27/04/2024. Taking into consideration that the nomination for membership of the Board of Directors will be in accordance with the provisions of the Companies Law issued by Ministry of Commerce, the Corporate Governance Regulations issued by the Capital Market Authority, the Company’s Articles of Association, and the Nomination and Remuneration of stc Board members and the members of its standing Committees and Remuneration of the Executive Management Policy approved by the General Assembly.

Shareholders who wish to nominate themselves for membership of the Board of Directors and who meet the membership conditions and criteria must submit their candidacy applications within the specified period and in accordance with the details contained in this announcement.

Selection of the nominated members for the Board of Directors new term will take place at the upcoming general assembly meeting, which will be announced later after obtaining the necessary approvals from the relevant authorities.

Type of AssemblyNew Session
Assembly Start Date2021-04-28 Corresponding to 1442-09-16
Assembly End Date2024-04-27 Corresponding to 1445-10-18
Number of members9
Application Start Date2021-02-01 Corresponding to 1442-06-19
Application End Date2021-03-02 Corresponding to 1442-07-18
Applications Submission MethodThe candidacy applications and their attachments should be delivered by hand or through Express Mail Service (EMS) or by email to the following address:

Saudi Telecom Company (stc) - Riyadh - Al-Mursalat District – Building (41)

General Secretariat of the Board of Directors

P.O. Box: 87912

Riyadh 11652

Telephone (0114525050)

Fax (0114529655)

E-mail: sb@stc.com.sa

Application RequirementsIn accordance with the provisions governing membership of the Board of Directors stipulated in the Companies Law issued by Ministry of Commerce, the Corporate Governance Regulations issued by the Capital Market Authority, the Company’s Articles of Association, and the Nomination and Remuneration of stc Board members and the members of its standing Committees and Remuneration of the Executive Management Policy approved by the General Assembly, the terms and conditions for Board membership candidacy are as follows:

First: Terms for choosing members of the Board of Directors:

1- The Board member should have sufficient professional adequacy, experience, knowledge, and necessary skill, as well as the academic qualifications, which will enable them to carry out their duties efficiently and accurately, in addition to the effective contribution in managing, fostering, and protecting the Company’s profits\interests.

2- Not to serve as a member of more than five Boards of listed joint-stock companies at the same time.

3- Healthy, free from any medical problems which hinder them from carrying out their duties and tasks.

4- Not an employee in a competing company, or take part in any activity that competes with the Company.

5- Not a Government employee (except Government nominees and representatives of shareholding Quasi-Government bodies).

6- Never been removed or fired from the Board of Directors of a joint-stock company or from any department due to carelessness, poor management, or irregular attendance of Board of Directors or its Committees meetings.

7- Never been convicted of any offence involving breach of honor or integrity.

Second: Requirements for nomination for Board of Directors membership:

1- A letter should be presented within a month from opening the registration to the Company’s management indicating the candidate’s interest in being a Board member. The letter should include the Curriculum vitae, qualifications, and experience in the Company’s activities according to relevant forms and requirements.

2- A list of the current Boards’ memberships.

3- A list of companies or corporations which practice similar activities and the candidate participates in their ownership or management.

4- A disclosure of any conflict of interest cases should be presented to the Board of Directors and the General Assembly according to the regulations stated by the organization which includes:

- Any direct or indirect interest in the Company activities and contracts.

- Being part of any business that competes with the Company or any of its activities.

5- A list of the previous Boards’ memberships and their dates. If the Company’s previous Board of Directors included in that list, the candidates shall state the Board term and the Company shall complete the remaining procedures.

6- Submit a signed copy of form No. (3) issued by the Capital Markets Authority for Board membership candidacy (Attached).

7- Submit a signed copy of form No. (1) Curriculum vitae in Arabic and English (Attached).

8- A clear and valid copy of the national ID and a copy of the commercial registration of companies and institutions, along with the candidate’s personal contact numbers.

9- Review relevant rules and regulations, including the Nomination and Remuneration of stc Board members and the members of its standing Committees and Remuneration of the Executive Management Policy, found on the company’s website

(http://www.stc.com.sa).

Attached Documents      

The Capital Market Authority and the Saudi Stock 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.

Company Profile

Actions

Company Profile

Summary

Last Price Net Change
124.0 1.2 (+0.98%)
Value Traded (SAR) Volume Traded
102,108,669 829,012