Methanol Chemicals Company (Chemanol) announces the Opening of the Nomination for Membership of the Board of Directors for the Next Term
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| Introduction | Methanol Chemicals Company (Chemanol) is pleased to announce the opening of the nomination for membership of the Board of Directors for the next four-year term starting on 12 November 2024 and ending on 11 November 2028. Candidates who wish to nominate themselves for the membership of the Board of Directors and who meet the relevant conditions and standards are invited to submit their nomination applications within the specified period and in accordance with the details contained in this announcement. |
Nomination will be in accordance with the provisions of the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority, the Company’s bylaws, and the Standards and Procedures for Membership in the Board of Directors approved by the Company’s General Assembly.
Candidates will be elected to the Board of Directors during the General Assembly meeting which will be announced later after obtaining the necessary approvals from the competent authorities.
c/o Secretary of the Nomination and Remuneration Committee
Methanol Chemicals Company
Jubail Industrial City
P. O. Box 2101
Jubail 31951
Kingdom of Saudi Arabia
Telephone: 00966133438008
1. The candidate must be a natural person whose age shall not be less than (30), whether he/she is applying in his/her personal capacity or as a representative of a legal person.
2. He/ she shall have leadership skills which enable him/her to delegate powers to enhance performance and apply best practices in effective management and compliance with professional ethics, and the ability to communicate effectively, think and plan strategically.
3. He/ she shall have the academic qualifications, professional skills, suitable character, proper training level, and practical experiences related to the current and future activities of the Company and shall have knowledge about management, economy, accounting, law or governance; in addition to the desire to learn be trained.
4. He/ she shall have the technical, leadership, administrative abilities, quick decision making, understanding the technical requirements related to the work progress and to be able to direct strategically and plan for long-term and have clear future vision.
5. He/ she shall have ability to read and understand financial statements and reports.
6. He/she shall not suffer from any health issue that may hinder him/her from exercising his/her duties and responsibilities.
7. He/ she must be committed to the principles of honesty, trust, loyalty, care and concern for the interests of the Company and shareholders and prioritize them over his/her personal interest, and honesty is that the relationship of the board member with the Company be an honest professional relationship and he/she shall disclose to the Company any influential information before executing any transaction or contract with the Company or one of its subsidiaries, while loyalty is achieved in avoiding dealings that involve conflict of interests while verifying the fairness of dealing and observing the provisions related to conflict of interests contained in the Governance Regulations, as for care and concern, they shall be in performing the duties and responsibilities stipulated in the Companies Law, the Capital Market law, the articles of association of the Company' and other related laws.
8. He/ she shall not have been convicted of a crime involving moral turpitude and shall not be unfit for membership of the board in accordance with any law or instructions in force in the Kingdom.
9. He/ she shall not be a member in more than five joint stock companies listed in the Capital Market at the same time.
10. He/ she shall represent all the shareholders and abide by what achieves the interest of the Company in general and not what achieves the interests of the Company he/she represents or that voted on his/her appointment in the board of directors.
11. Diversity in academic qualifications and practical experience shall be taken into consideration, and priority should be given to the required needs from appropriate skilled persons for the membership of the board of directors.
12. The nominee shall submit a copy of Form No. (1); the Curriculum vitae (CV) Form,) Arabic & English) (Attached).
13. The nominee shall submit a signed copy of Disclosure Form (form No. (3) (Arabic & English) issued by the Capital Market Authority for nomination to membership of the Board of Directors (attached). (The Form could be downloaded from CMA website).
14. The nominee shall submit a written statement to the Company’s management including his/her CV and information about his/her experience in the Company’s business. Also, contact numbers and clear copy of the personal identity card and family identity card (for individuals), and the Commercial Registry (for companies), must be submitted. (Arabic & English as attached)
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.