United Electronics Company (eXtra) announces the opening of nomination period for the Board of Directors membership for the next term
| Element List | Explanation |
|---|---|
| Introduction | United Electronics Company (eXtra) is pleased to announce the opening of nomination period for the Board of Directors membership for the next term that begins on 12 May 2021 (for three years) and ends on 11 May 2024, |
Those who intend to nominate themselves for membership of the Board of Directors, and those who meet the criteria for membership, are requested to apply for their candidacy within the period specified in the announcement and in accordance with the details contained in this announcement.
The nomination for the Board of Directors membership will be in accordance with the provisions contained in the Companies Law and Corporate Governance Regulations issued by the Capital Market Authority (CMA) as well as the company Bylaws and the approved standards and procedures for Board membership.
The new Board members will be elected in the next General Assembly meeting, which will be announced later after obtaining the necessary approvals from the respective authorities.
United Electronics Company (eXtra), Head Office,
King Faisal Road
AlRawabi District, AlRakka Area, AlKhobar City
United Electronics Company
P.O. Box 76688, Khobar 31952, Saudi Arabia
Tel: +966 (13) 829 9600 Ext. 3997, Fax: +966 (13) 858 1653
1. Fulfill the Board of Directors membership general conditions and the nomination requirements contained in the standards and procedures for Board membership approved by the General Assembly (attached).
2. The candidate must submit the Nomination Request (attached), including his CV, qualifications, and experience in the Company’s business, in addition to a clear copy of his national ID and contact numbers.
3. The candidate who has previously served on the board of directors of a joint stock company must indicate for which companies he served on the board and the dates for each. In addition, he must state the names of companies or institutions he jointly managed which work in the same field as the Company.
4. If the candidate was previously a member of the Board of Directors of the United Electronics Company (eXtra), he must include a statement from the Company’s Board of Directors detailing the last term during which he was a member, including the following:
- The number of Board meetings held during each year of the term, the number of meetings attended by the candidate in person, and his attendance percentage.
- Standing committees in which, the candidate participated, the number of meetings held during each year of the term by each committee, the number of meetings he attended, and his attendance percentage.
- A summary of the financial results achieved by the Company during each year of the term.
5. The candidate must complete and submit Form no. 3 issued by the Capital Market Authority (attached), which can be obtained through their website (www.cma.org.sa).
The voting in the General Assembly meeting of the new board term will be limited to the nominees who have satisfied the terms, conditions, and standards mentioned in this announcement.
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.