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ADES Holding Company announced today, December 10, 2023, the opening of nominations for membership in the Board of Directors for three vacant seats for independent members in accordance with the definition of independent member as stipulated in the Corporate Governance Regulations issued by the Capital Market Authority to complete the current session, which ends on 26/12/2027.
Nomination will be for those who meet the conditions and qualifications for membership in accordance with the Policies, Standards and Procedures for Membership in the Board approved by the General Assembly (attached) and in accordance with the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority.
Nominees will be elected in the General Meeting Assembly to be announced later after obtaining the required approvals from the concerned authorities.
In an announcement today on Tadawul, the company stated that the application starts to elect 3 members this Sunday and will end January 2024.
Those wishing to run for membership in ADES Holding Company BOD shall submit a nomination application, considering the following:
1. Submitting a signed nomination application letter using the attached format addressed to the Remuneration and Nomination Committee stating the candidate’s desire to apply during the nomination period specified above, provided that the letter is accompanied by the candidate’s CV, qualifications, and experiences in the Company’s field of business (attached).
2. Completing the independency form to verify opposing factors of independence for the nominated member (attached).
3. Submitting a statement of the names of the joint stock companies and committees of which he/she served or continues to serve as a member.
4. Submitting a statement of the companies and institutions in whose management or ownership he/she participates, and which conduct business similar to the Company’s business.
5. Submitting a statement for the number and dates of the boards of directors’ meetings of the companies in which he/she served, if they had previously served as a joint-stock company BOD member.
6. Attaching a clear and valid copy of the national ID card, family card, and passport (for non-Saudis), in addition to the candidate’s contact numbers.
7. All forms shall be filled out in Arabic and English.
Candidates shall review the relevant laws and regulations, including regulations issued by the Capital Market Authority and ensure compliance thereto, and shall be responsible therefor.
The Remuneration and Nomination Committee will review the applications received from the candidates as stipulated under Paragraph (2) of Article Sixty-Two of the Corporate Governance Regulations, noting that voting in the General Assembly will be limited to those who nominated themselves for Board membership in conformity with the conditions and standards.