SHL Announces Opening of Nomination for BOD Membership

The Saudi Home Loans (SHL) announced on Thursday to the Company’s Shareholders the opening of the nomination of the Board members for the new Board Term for three (3) years starting from 28th November 2022 and will end on 27th November 2025 as per the requirements and conditions provided for in the Companies Law, the Capital Markets Authority Laws & Regulations, and the Saudi Central Bank (SAMA) Regulations.
The nomination will also be as per the Company policy for the requirements and procedures of Board membership approved by the General Assembly held on 22nd December 2021.
The appointment of the Board members will be done by the General Assembly that will be conveyed later on after obtaining the requested approvals from the concerned authorities.
The type of Assembly is a new session. The Assembly start date is 28.11.2022. The Assembly end date is 27.11.2022. The number of members is 11. The application start date is 25.08.2022. The application end date is 26.09.2022.
The Board nomination requests must be along with documentation shall be handed over during the working hours of the Company before the closing date of the Board members nomination.
The nomination shall be according to the conditions and legal processes as stated in the Companies Law, the CMA Laws and Regulations, SAMA Laws & Regulation, and according to the Company Policy on the Requirements and Procedures for the Nomination of Board Membership.
The Nominee shall submit the below Forms and documents during the opening of the Nomination period:
1- To fill up and the sign the Nomination request Form.
2- To submit his profile including his C.V. (resume) stating his occupation, the current job he performed, his qualification, his experience, and his knowledge and experience in the Financing business of the Company to which he requested to be nominated as Board member.
3- To submit a clear copy of his national ID for individuals, the family registry if he is married, or a copy of Passport for none Saudi nationals, and to provide the contact numbers of the nominee.
4- To fill up the profile (resume) Form (1) in both English and Arabic languages.
5- To fill up Form (3) Ifsah in both English and Arabic languages as issued from the CMA, and submitted along with the Nomination Request.
6- To fill up the Fit & Proper Form issued from Saudi Central Bank (SAMA) which can be download from SAMA Website. This Form must be submitted to the Company along with the nomination request.
7- Summary of companies and partnerships performed similar business of the Company of which the nominee has ownership or member of its Directors whether directly or indirectly.
8- List of Companies (whether listed or not) whereby the Nominee is still he is holding Board of Directors membership or Board Committees membership.
9- The Nominee who previously occupied the Board membership of any listed company, must outlined the number and dates of such membership in these companies.
10- The Nominee must outline any relationship whether as a relative or not, that between himself and any of major Shareholders of the Company or with any of external auditors.
11- The Nominee who was a member in Board of Directors of Saudi Home Loans Company, he must submit with his nomination request statement from the Company management showing the below information of the last Board Term on which he was a member:
i- The number of the Board meetings held on each year of the Board Term.
ii- The number of meetings attended physically by the Board member and the percentage of his attendance for all Board meetings.
iii- The Board Committees in which he was a member, the number of meetings held by each Committee during its Term, the number of meetings attended by him and the percentage of his attendance of such meetings.
iv- Summary of the financial results achieved by the Company on each year of the Board Term.
12- The Nominee shall disclose any conflict of interest instance which include any directl or indirect personal interest in the contracts and business concluded on behalf of the Company, or his participation in any work or business that will compete with the Company business or any part of it.
13- To fill up the Independent Membership Form to be submitted with the nomination request for those nominees who applied for Independent Board seats.
Please note that the voting in the General Assembly will be restricted on those who submitted their Nomination Requests according to the above-mentioned requirements.