Sumou Real Estate Company Announces the Nomination opening for the Board of Directors' Membership for its next term
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| Introduction | Sumou Real Estate Company is pleased to announce the nomination opening for the Board of Directors membership for the next three years term, which begins on 24/12/2021G and ends on 23/12/2024G. |
Those 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.
The nomination procedures shall be in accordance with the provisions of the Companies Law and its Implemented Regulations issued by the Ministry of Commerce and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the Company’s Bylaws, and the Policies and Standards for Membership in the Board of Directors.
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.
1-Submit in person to the Remuneration and Nominations Committee Secretary at the Sumou headquarters, in Al-Khobar City, Prince Turkey Street, Building No4300 Seventh Floor, Sumou Tower
2-Send to the following address: P.O Box: 250 Postal code: 31952, (Kindly in sure that arrives during the nomination period).
3-Send by Email to the following Email address: board@sumou.com.sa
For further enquiries, please call 0138878888 Extension No. 351
1-A Written Notification to the Company of stating his intention for nomination.
2-Fill out and submit form No (1) CV in both Arabic and English language. (Attached).
3-Fill out and submit form No. (3) Issued from CMA (Attached) which can be obtained from the CMA from the following link: website:
https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx
4-The candidate should satisfy the necessary conditions, criteria and procedures required for the Board of director’s membership (As attached).
5-The candidate for membership of the Board of Directors should not have been previously convicted of a crime involving breach of honor and trust, and not be insolvent or bankrupt, or become unfit for membership in the board according to any statue or instructions in force in the Kingdom.
6-The candidate for board membership should comply with the principles of truthfulness, honesty, loyalty, and care of the interests of the Company and its shareholders, and priorities their interests over his/her personal interests
7-The candidate should not hold a membership of the Board of Directors of more than five joint stock companies listed in the market simultaneously
8-For candidate who are willing to be designated as an independent member, they must avoid any conflict-of-interest cases in accordance with the rules and regulations of the Capital Market Authority
9-Submit all documents and certificates supporting what is stated in the candidacy application.
10-The candidate must attach copy of his ID card, or the commercial registration for the companies and establishments, and the candidate’s contact details, including phone, fax and e-mail.
11-Voting at the General Assembly, the date of which will be determined later, will be limited to candidates nominated for the membership of the Board of Directors in accordance with those rules, and the candidates approved by the competent authorities.
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.