Zahrat Al Waha for Trading Co. Announces the opening of nomination for membership of the Board of Directors for the Next session starting from 26 December 2021 and for a period of three years.
Those who willing to nominate themselves for the board of directors’ membership, must submit their candidacy applications within the period specified in the announcement and in accordance with the details contained in this announcement.
The nomination for the board of Directors membership will be in accordance with the provisions of the company’s law issued by the Ministry of Commerce, the Corporate Governance Regulations issued by The Capital Market Authority, and the policy standards and procedures of the board of directors’ membership approved the General Assembly of Zahrat Al Waha for Trading Co. Candidates will be elected at the next Assembly meeting which will be announced later after obtaining the necessary approvals from the competent authorities.
Type of Assembly: New Session
Assembly Start Date: 26-12-2021 Corresponding to 22-05-1443
Assembly End Date: 25-12-2024 Corresponding to 24-06-1446
Number of members: 6
Application Start Date: 01-06-2021 Corresponding to 20-10-1442
Application End Date: 30-06-2021 Corresponding to 20-11-1442
Applications Submission Method:
The originals of the nomination applications, their attachments and the forms shall be sent to the attention of the Nominations and Remuneration Committee before the end of the nomination period described in the announcement and during official working hours (from Seven am to three pm) by any of the following methods:
1- Handing over by hand at the company’s office to the secretary of the Nomination and Remuneration Committee – Riyadh, Rabwah District, Al-Ahsa Street, Building No. 7449, Unit No.
2- Delivery by post: Additional No. 2980, Zip Code 12814, Riyadh (taking into account the arrival of the consignment during the nomination period).
3- Email submission: CV@zaoasis.com
For any inquiries, please contact us at: 920021203 – Ext. 304.
Application Requirements:
The candidate must fulfil the conditions for candidacy for membership of the Board of Directors stipulated in the relevant laws and regulations and in accordance with the following:
- Meet the conditions of the Policies, Standards and Procedures for Membership (attached).
- Submit a signed letter addressed to the Remuneration and Nominations Committee stating the desire to run during the announcement period specified above, provided that the letter is accompanied by a CV, qualifications and experiences in the company’s field of activity (attached).
- Submit Form No. (1) CV. (Attached)
- Submit a signed copy of Form No. (3) issued by the Capital Market Authority for candidacy for membership of the Board of Directors in CMA website www.cma.org.sa or from the CMA Form. (Attached)
- Attach a clear and valid copy of the national identity card, family record and passport (for non-Saudis) or the commercial register for legal entities that want to nominate representatives, in addition to the candidate’s contact numbers.
- All relevant paper and supporting documents must be submitted in Arabic, otherwise having an Arabic translated copy if it was in any other foreign language.
- Submit a statement containing details of companies or institutions that the Nominee manages or owns, and which conduct similar business to the Company.
- Submit a statement containing details of the number and dates of memberships on the boards of directors of other joint-stock companies and the committees that he / she has assumed or still holding.
- If the candidate had previously been a member of the board of directors of Zahrat Al Waha for Trading Co., he shall enclose with his request a statement from the company’s management on the last session in which he assumes the board’s membership showing the following information:
- a) The number of board meetings that took place during each of the years of the Board of Directors’ term, the number of meetings attended by the candidate member, and the percentage of his attendance for the total number of meetings.
- b) The permanent committees in which the member has participated, the number of meetings each of these committees held during each year of the board’s term, the number of meetings he attended and the percentage of his attendance out of the total of meetings.
- The candidate should not hold a membership of more than five joint-stock companies simultaneously.
- Disclosure to the Board of Directors and the General Assembly of any cases of conflict of interest – in accordance with the procedures prescribed by the authority – and include:
- Any direct or indirect interest in the business and contracts made for the company’s account.
- His participation in a business that would compete with the company or compete with it in one of the branches of the activity that he is practicing.
- The candidate for membership in the Board should not have been previously convicted of a crime involving breach of honor and trust, and not be insolvent or bankrupt, or become unfit for membership in the Board in accordance with any system or instructions in force in the Kingdom.
- Have enough time to effectively participate in the board and permanent committees.
- Ensure all forms are completed and signed by the nominee, as incomplete applications will not be considered.
Note that voting in the General Assembly will be limited to those who nominate themselves for membership in the Board of Directors in accordance with the conditions, controls and criteria set forth in this announcement.
The Nominations and Remuneration Committee will study the candidates’ applications received by it, based on what was stipulated in Paragraph (2) of Article 65 of the Corporate Governance Regulations issued by the Capital Market Authority.
Candidate Conditions: Attached policies and criteria of board membership procedures.
Attached Documents: Form 1 – Form 3 – Candidate letter