stc Calls for Nominations for Board of Directors Membership

Saudi Telecom Company (stc) announced on Tuesday the commencement of the nomination process for membership in the Board of Directors for its upcoming Ninth term, spanning four years. The nomination procedure will adhere to the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority, the Company’s Articles of Association, and the Nomination and Remuneration Policy for stc Board members and its standing Committees, along with the Remuneration of the Executive Management Policy approved by the General Assembly.

Prospective candidates who fulfill the membership conditions and criteria outlined in the nomination and remuneration policy must submit their applications within the specified timeframe and according to the guidelines provided in this announcement.

The selection of the new Board of Directors members will occur at the general assembly meeting, details of which will be announced later following the necessary approvals from relevant authorities.

It is noteworthy that the current Eighth Term of the Board of Directors and its Committees will conclude on April 27, 2024. As per paragraph (1) of article (69) of the Companies Law and paragraph (e) of article (6) of the Implementing Regulation of the Companies Law for Listed Joint Stock Companies, the current Board of Directors and its Committees will continue their duties for a period of 90 days or until the election of a new Board of Directors within this period.