AYYAN Announces Opening of Candidacy for Membership of BOD

AYYAN Investment Company announced on Thursday to its shareholders the opening of candidacy for membership of the Board of Directors for the new term that begins from 01.07.2022 and for a period of three years and ends on 30.06.2025, in accordance with the controls and procedures included in the statutory texts contained in the Companies Law and Regulations Corporate Governance issued by the Capital Market Authority and related executive regulations in addition to the company’s policies and standards and procedures for membership in the Board of Directors and the company’s sub-committees.

The members nominated for the new term will be elected at the next General Assembly meeting, which will be announced later after obtaining the necessary approvals from the competent statutory authorities.

The type of Assembly is new session. The Assembly start date is 01.07.2022. The Assembly end date is 30.06.2025.The number of members is7.The application start date is 20.02.2022. Application end date is 22.02.2022.

Shareholders of the Company who wish to nominate themselves for Membership of the Board of Directors are kindly requested to submit a Candidacy Application to the Chairman of the Remuneration and Nomination Committee and send the Candidacy Applications and its attachments and relevant Forms to the Secretary of the Nomination and Remuneration Committee by e-mail or the company’s head office.

The Candidate must fulfill the criteria for candidacy for Membership of the Board of Directors, according to the following:

1. To have sufficient knowledge of administrative and financial matters, and to be familiar with the relevant rules, regulations and legislation, especially issued by the Authority, and the rights and duties of the Board of Directors.

2. Sufficient time must be given to submit applications for candidacy for membership in the Board of Directors.

3. He should not be a Member of the Board of Directors of five joint stock companies listed in the market.

4. If the Candidate has previously occupied the Membership of the Board of Directors of a joint stock company, he must provide the Company with a statement of the number and date of the Boards of Directors of the Companies he has been a Member of in which the Membership of the Council includes the following information:

• The number of board meetings that took place during each year of the session, the number of meetings attended by the member in person, and the percentage of his attendance to the total meetings.

• The committees in which the member participated, the number of meetings held by each of those committees during each year of the session, the number of meetings he attended, and the ratio of his attendance to the total meetings.

5. He must be of full legal capacity.

6. The candidate should have sufficient and appropriate practical and scientific experience that would contribute to supporting the company’s march towards optimal performance and achieving its strategy.

7. It is preferable for those who have experience in the boards of directors of joint stock companies that do not conflict with the activities of the company and its subsidiaries so as not to conflict with interests.

8. That the candidate has not been issued a decision against him by the Authority or any Judicial or Supervisory Authority to commit a grave violation of the Companies Law or the Capital Market Law and its Implementing Regulations by committing a crime punishable by the Law that violates honesty or integrity or involves any fraud, fraud or deception.

9. The candidate must disclose cases of conflict of interest in the event that he has an activity similar to that of the company.

10. It is necessary to fill out Form 3.

11. The candidate shall abide by the principles of honesty, trust, loyalty, care and concern for the interests of the company and shareholders, and prioritizing them over his personal interest.

12. Complete and Sign the Attached Nomination Form, taking into account the periods and dates stipulated in the company’s announcement and the rules and regulations.