Obeikan opens nominations for BOD membership ‎

Obeikan Glass Company announced the opening of nominations to select 7 members for membership in the Board of Directors for the next session, which will begin on April 1, 2024 AD and end on March 31, 2027 AD, for a period of 3 years.

Those wishing to nominate themselves for membership in the Board of Directors, and who meet the conditions and qualifications for membership, may submit their nomination applications within the specified period, noting that the opening of nominations begins today and ends on January 25, 2024.

Nomination for membership in the Board of Directors for the next session will be in accordance with the provisions contained in the Companies Regulations issued by the Ministry of Commerce and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the policy and procedures for membership in the Board of Directors approved by the Extraordinary General Assembly, where the nominated members will be elected. For the next session during the company’s next general assembly meeting, the date of which will be announced later after obtaining the necessary approvals from the relevant authorities.

Nomination conditions:

1- Completing the criteria contained in the Board of Directors membership policy and procedures approved by the company’s General Assembly.

2- Submit the candidacy application within the period specified in the announcement to the email shown above, and attach all of the following documents to the candidacy application:

– Submit a letter signed by the candidate declaring his desire to run for council membership according to the form.

– Complete Form No. (1) CV

– Complete and sign Form No. (3) issued by the Capital Market Authority to nominate for membership in the Board of Directors.

– Attach the candidate’s CV, including information about his profession, the primary position he currently holds, and his qualifications and experience in the company’s field of business.

– Providing a statement of the number and date of memberships in the boards of directors of joint-stock companies, and the committees of which he served or is still a member.

– Submitting a statement of the companies or institutions in which he participates in management or ownership and which conduct business similar to the company’s business.

– Attach a clear, valid copy of the national ID card, family card, and passport (for non-Saudis), in addition to the candidate’s contact numbers.

– All documents and certificates supporting what is stated in the candidacy application in Arabic

– If the candidate has previously served as a member of the Board of Directors of Obeikan Glass Company, he must attach to the nomination application a statement from the company’s management for the last session in which he served as a member of the Board, including the following information:

1. The number of Board of Directors meetings that took place during each year of the term, the number of meetings that the member attended in person, and the percentage of his attendance to the total number of Board meetings.
2. The names of the permanent 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 percentage of his attendance to the total number of committee meetings.

The Nominations and Remuneration Committee will study the applications received by the candidates, noting that only completed nomination applications will be studied. Voting in the General Assembly will be limited to those who have nominated themselves for Board membership in accordance with the controls set forth in the Board of Directors membership policy and procedures, and whose information the company will announce in accordance with Paragraph (A) of Article Eight of the Corporate Governance Regulations issued by the Capital Market Authority.