Jazan Announces Opening Nomination for BOD on Wednesday

Jazan Energy and Development Company announced the opening of the nomination for board of directors’ membership for its upcoming session, starts from April 13th, 2022 until April 12nd, 2025 (a period of three years).

Candidates, who wish to run for membership in the Board of Directors and meet the membership conditions and qualifications, are requested to submit during the assigned duration based on the details included in this announcement, the company said.

Nomination will be in accordance to the Corporate Governance Regulations issued by Capital Market Authority in addition to the policy of criteria and procedures for membership in the Board of Directors approved by the General Assembly. The nominated members will be elected in the next General Assembly meeting, which will be announced later after having the necessary approvals from the concerned authorities, it explained.

The originals of the applications with all required attachments shall be sent to the Secretary of Nomination and Remuneration Committee in Jazan Energy and Development Company via the following e-mail (ir@jazadco.com.sa), the registered mail, or hand delivery at the company’s head office at the following address:

Jazan Energy and Development Company

St Prince Mohammed bin Nasser

Five district (5) Jazan

Building No.: 3177 Additional Number: 6410 Zip Code: 82812

Kingdom of Saudi Arabia

For more information please call number 0173222162 EXT (5001)

Application Requirements:

1. Submit a signed application for board membership, attached with the candidate’s CV and copies of qualifications and experience letters.
2. CV Form (1) filled out in both Arabic and English.
3. Submit a filled and signed copy of Non-Disclosure form No. (3) issued by the Capital Market Authority for nomination to membership of the Board of Directors the form could be downloaded from CMA website through the link:

https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx

1. Share a clear copy of the personal identity card, the family identity card or passport copy for individuals and the commercial registration for companies.
2. Clarify any kinship or other relationship with any of the company’s major shareholders, senior executives, or one of his external auditors, as shown in the definitions of related parties and the kinship relationship in the Corporate Governance Regulations issued by the Capital Market Authority.
3. Statement of companies and institutions that own, contribute to, participate in or represent their management, while clarifying the type of activity and the record number.
4. The candidate who occupies or has previously served as a member of the board of directors of a joint stock company or membership of any of its committees must attach a statement of the number and dates of the board meetings of the companies he has been a member of, as well as the meetings of the committees.
5. A statement of conflicts of interest by having a direct or indirect interest in the business and contracts made for the company or its participation in the work of its competitor to the company or its competitor in one of the branches of its activity, which it engages in with its approval and commitment to present these works to the General Assembly.
6. A candidate who has previously served on the Board of Directors of Jazan Energy and Development Company must attach to the nomination a statement from the company’s management of the last session in which he has served on the Board, including the following information:
7. The number of board meetings held during each year of the last Board term he was a member of, number of meetings he attended personally, and his attendance percentage in relation to the total number of meetings held.
8. The permanent committees that he participated in during the Board term he was a member of, number of meetings held by each committee during each year of his board membership, and number of meetings he attended personally, and his attendance percentage in relation to the total number of committee meetings held.
9. Summary of financial results which were achieved by the Company during every year in the term of his board membership.
10. In addition to the above, the following shall be taken into account in the candidates:
11. The candidate must meet the conditions of sufficient experience, honesty and talents that contribute to promoting the company to optimal performance.
12. That no decision or judgment has been issued against him from any judicial or other authority.
13. The person nominated for the membership of the Board should not be a member of the Board of Directors of more than five joint stock companies listed at the same time.

The process of candidates fulfilling the requirements and conditions of membership above and in accordance with the requirements of the governance system related to the classification of the membership of the Board of Directors, so that most of the members are independent and non-executive, will be taken into account.

Voting in the General Assembly for the new session will be limited to those who have nominated themselves in accordance with the aforementioned criteria. Incomplete and signed applications will not be considered. The cumulative voting method will also be used to elect the members of the Board of Directors.