ABDULLAH AL-OTHAIM MARKETS COMPANY ANNOUNCES THE OPENING OF NOMINATION FOR ITS BOARD OF DIRECTORS FOR ITS COMING SESSION WHICH STARTS FROM 03/10/2018G UP TO 02/10/2021G
Abdullah Al-Othaim Markets Company is pleased to announce to its shareholders the opening of nominations for its Board of Directors new session, which will start from 03/10/2018G for a period of three Gregorian years, since the current session for the Board of Directors will end on 02/10/2018G. The Board of Directors will be elected to the new session in the forthcoming General Assembly meeting of the shareholders, which will be announced later after obtaining the necessary approvals from the competent authorities. Note that each shareholder has the right to nominate himself or another person or more for membership of the Board of Directors according to the percentage of his ownership in the company's capital. Those who are interested to nominate themselves and satisfy the conditions, the official requirements and the general membership criteria for the Company board of directors shall submit their applications at the address indicated below starting from Wednesday 23/05/2018G until end of Saturday, 30/06/2018 G. The applications must satisfy and include the following requirements:
1) Written Notification to the Company of his interest for nomination includes his biography, his qualifications, previous practical experiences and his experience in the Company business and his current job along with contact information.
2)He should satisfy the necessary and general criteria for the Board of director membership (As attached).
3) Fill out CMA Form No. (3) on the CV of the candidate for the board of directors of a joint stock company listed on the Saudi Capital Market, which can be obtained from the CMA website: https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx
4) Shall not be a board member of more than five joint stock companies listed in the Saudi Capital Market at the same time.
5) In the case of the candidate is willing to be designated as an independent member, he must avoid the conflict of interest cases in accordance with the rules of the Capital Market Authority and the Company Corporate Governance Regulations.
6) Shall disclose to the Board of Directors and to the Company General Assembly any cases of conflict of interest according to the procedures specified by the regulations.
7)If the nominee was previously hold a member of the Board of Directors of Abdullah Al Othaim Markets Company, his application must be accompanied with a statement from the company for the last session of his membership includes the following informations:
a) The number of meetings that has been held during each year of session, and the number of meetings attended by the candidate on his behalf and the percentage of his attendance.
b) Permanent committees which he was a member therein, and the number of meetings held by each of the committees during each year of the session.
c) Summary of the financial results achieved by the company during each year of the session.
8) The applications must be attached with a clear copy of the national ID for Saudi candidates or residency license for non-Saudi candidates, family ID.
The voting in the General Assembly will be limited to those who have nominated themselves for the board of director membership in accordance with the specific regulations and who has been approved by the competent authorities. Its worth noting that the cumulative voting method will be used to elect the members of the board. The applications shall be submitted by express mail or delivered in hand at the Company's headquarters or by sending photocopies through fax or email to the attention of the secretary of the Remunerations and Nominations Committee at the address: (Abdullah Al Othaim Markets company - Riyadh - Al Rabwa district - Eastern Ring Road - Between the Exist 14 and 15 to the north, PO Box 41700 Riyadh 11531, Tel (011-2547000), Fax (011-4933264), E-mail: balbohiry@othaim.com. The original application and its attachments should handed over to the company headquarters during the specified period. For further information or inquiries, please call Tel(011-2547000)
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.