SPIMACO Opens Nominations for Next BOD Session

Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO ADDWAIEH) announced on Wednesday the opening of nominations for membership in the Corporation’s Board of Directors for the next four-year term, starting from Nov. 01 – Nov. 30.

It indicated in a statement on Tadawul that each shareholder has the right to nominate himself or another person or more for membership in the Board of Directors, in accordance with the regulations issued by the competent authorities. The nominee shall submit a notification to the Corporation’s management within the specified nomination period and in accordance with the conditions and controls referred to above. The candidate shall take into account the controls and forms referred to in accordance with the attachments.

According to the Corporation, nominations shall be in accordance with the provisions contained in the Companies Law and its Executive 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 policies, standards and procedures for membership in the Board of Directors approved by the General Assembly of the company’s shareholders.

The Corporation noted that the date of the General Assembly Meeting, which will include the item of electing members of the Board of Directors for the new session, will be announced later, after obtaining the necessary approvals from the competent authorities