‎“Osool & Bakheet” opens nominations for BOD membership ‎

Osool & Bakheet Investment Company announced the opening of nominations for membership in the company’s Board of Directors for the current session in order to elect a replacement member for the resigned member.‎

Nomination for membership in the current Board of Directors shall be in accordance with the provisions contained in the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority, and the Company’s Articles of Association, in addition to the standards for Board of Directors membership.

A member of the Board of Directors will be elected during the next General Assembly meeting to complete the current session, noting that the opening of nominations begins today and ends on January 26, 2024.

Nomination conditions:

‎1. Every shareholder has the right to nominate himself or one or more other persons for membership in the Board of Directors within the limits of his ownership percentage in the capital.

‎2. The candidate must have scientific and practical qualifications and appropriate relevant experience that qualifies him to carry out the work and responsibilities assigned to him.

1. The candidate must not serve as a member of the board of directors of more than five listed joint stock companies at the same time
2. The candidate must not be a member of the board of directors of a financial market institution licensed by the Capital Market Authority and working within the Kingdom of Saudi Arabia.
3. The candidate must not have been previously convicted by a court ruling or a crime prejudicial to honor and honesty.
4. The candidate must not be insolvent or bankrupt
5. The candidate should not engage in any inappropriate behavior in the financial market or business
6. The candidate must be committed to the provisions of the relevant laws, regulations and instructions
7. The candidate must commit to taking care and attention with regard to effectively performing his duties and responsibilities as a member of the Board of Directors and allocating sufficient and appropriate time to carry out his duties and duties towards the company.