Banan Real Estate Co. Announces Calling Candidature for Board Members Elections

Element ListExplanation
IntroductionBanan Real Estate Company is pleased to announce to its shareholders the nomination opening for the board of directors' membership for the upcoming three-year tenure strating 26- 12-2022 ending on 25-12- 2025.

Anyone who wish to nominate themselves for the board of directors' membership, who meet the membership's conditions and criteria, must submit the nomination applications within the specified period and in accordance with the announcement's details.

The nominated members will be elected during the General Assembly meeting, which will be held & announced later after obtaining the necessary approvals from the competent authorities, in accordance with the conditions stipulated in the Companies Law and the Corporate Governance Regulations, in addition to the Policies, Criteria, and Procedures charter for Membership of the company’s board of directors approved by the General Assembly.

Type of AssemblyNew Session
Assembly Start Date2022-12-26 Corresponding to 1444-06-02
Assembly End Date2025-12-25 Corresponding to 1447-07-05
Number of members6
Application Start Date2022-08-15 Corresponding to 1444-01-17
Application End Date2022-09-15 Corresponding to 1444-02-19
Applications Submission MethodPlease fill out all the forms referred to in this announcement, which can be obtained through the Capital Market Authority's website or through the attachments in both Arabic & English and Share a clear copy of the National identity card and the family card, as well the passport for non-Saudis to be send through:

In addition, all forms shall be sent when it is filled and signed in all the pages to be received by hand during the official working hours of the company from 8 AM until 5 PM, or through the official registered mail of the company to be addressed to the following address:

Investor Relations Officer

Banan Real Estate Company - Al-Haqbani Commercial Complex - Building 1 First Floor - Al-Takhasusi Street - Al-Ma'athar North District

Riyadh, Postal Code 12314 - Building 7120 - Kingdom of Saudi Arabia

Tel: 0114808085 Ext.: 110

Application RequirementsIt is required that a member of the Board of Directors be of professional competence, who have the necessary experience, knowledge, skill and independence to enable him to perform his duties efficiently and competently. The candidate should have the following in particular:

A - The ability to lead by having leadership skills that qualify him to grant powers in a way that leads to motivating performance and applying best practices in the field of effective management and adherence to professional values ​​and ethics.

b- He must be competent, having the appropriate academic qualifications, professional and personal skills, level of training, and practical experience related to the company's current and future activities, management, economics, accounting, law or governance, as well as a desire to learn and train.

c- He should have the ability to direct by having technical, leadership, and administrative capabilities, speed in decision-making, assimilation of technical requirements related to workflow, and be able to strategically direct, plan and have a clear future vision.

d- To be able to read and understand financial statements and reports.

c- He should be healthy and free of diseases that would prevent him from exercising his duties and responsibilities normally.

H- Not to be a member of the board of directors of a competing company.

g- A member of the board of directors is required not to be a member of the board of directors of more than five joint stock companies listed on the market at the same time.

d- He must not have been convicted of a crime involving moral turpitude or dishonesty.

Y- He should not have been convicted by a decision by the Capital Market Authority or any judicial or supervisory authority for violating the Companies Law or the Capital Market Law and their regulations.

T- He has not been removed from the board of directors of another company for a legitimate reason.

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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