Saudi Advanced Industries Company (SAIC) announces the opening of the nomination period for board membership
- Date : 2025-03-13
| Element List | Explanation |
|---|---|
| Introduction | Saudi Advanced Industries Company (SAIC) announces to its shareholders the opening of the nomination period for membership in the company’s Board of Directors for the upcoming term, which will commence on May 31, 2025 (corresponding to 4 Dhul-Hijjah 1446H) and will last for four calendar years, ending on May 30, 2029 (corresponding to 17 Muharram 1451H). Those interested and who meet the eligibility criteria and requirements for board membership are invited to submit their nomination applications within the specified period and in accordance with the details provided in this announcement. |
| Type of Assembly | New Session |
| Term Start Date | 2025-05-31 |
| Term End Date | 2029-05-30 |
| Number of members | 7 |
| Nomination Start Date | 2025-03-13 Corresponding to 1446-09-13 |
| Nomination End Date | 2025-04-19 Corresponding to 1446-10-21 |
| Applications Submission Method | Nomination applications and the required forms must be submitted before the end of the nomination period mentioned above, during the company’s official working hours (from 8:00 AM to 4:00 PM) through one of the following methods:
– Email: shareholders@saic.com.sa – Address of the company’s headquarters: Prince Saud bin Abdullah bin Jalawi Street, Al-Arid District, 6721 Riyadh 13335 |
| Policy and criteria of nomination | The candidate must meet the eligibility requirements for Board membership as stipulated in the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the nomination policy, standards, and procedures for Board membership approved by the Ordinary General Assembly (attached). The nomination application must include the following:
1. Fulfillment of the general conditions stated in the company’s nomination policy, standards, and procedures for Board membership (attached). 2. Completion of the nomination application letter for Board membership, accompanied by all required documents (attached). 3. Submission of a signed copy of the Capital Market Authority’s Board Membership Nomination Form No. (3) (attached). 4. Submission of Curriculum Vitae Form No. (1) (attached). 5. Submission of a statement listing the names of publicly traded companies in which the candidate holds Board memberships. 6. Submission of a statement listing companies or establishments in which the candidate participates in management or ownership and that engage in business activities competing with the company. The Nominations and Remuneration Committee will ensure that candidates meet the membership requirements and conditions in accordance with the applicable policies and relevant regulations. Voting in the General Assembly for the upcoming term will be limited to candidates who meet the eligibility criteria, conditions, and standards for Board membership. The Board members will be elected through cumulative voting during the General Assembly meeting, which will be announced later after obtaining the necessary regulatory approvals from the competent authorities. |
| Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange |  |
| Attached Documents | |