Aldrees Petroleum and Transport Services Co. Announces Calling Candidature for Board Members Elections
| Element List | Explanation |
|---|---|
| Introduction | Aldrees Petroleum and Transport Services Co. is pleased to announce to the Shareholders that it opens the nomination for Board Membership. The nomination is open to select Eight members, for four years including at least three independent members as defined by the Corporate Governance Regulations issued by the Capital Market Authority.
The nomination for the Board Membership for the next term, will be in accordance with the provisions of the Companies Regulations issued by the Ministry of Commerce and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the Board Membership policies and standards approved by General Assembly. Candidates will be nominated at the next General Assembly Meeting, which will be announced later. |
| Type of Assembly | New Session |
| Assembly Start Date | 2023-12-22 Corresponding to 1445-06-09 |
| Assembly End Date | 2027-12-21 Corresponding to 1449-07-23 |
| Number of members | 8 |
| Application Start Date | 2023-07-18 Corresponding to 1444-12-30 |
| Application End Date | 2023-08-18 Corresponding to 1445-02-02 |
| Applications Submission Method | Applications of candidacy must be submitted before the end of nomination period, by submitting it during the official working hours of the Company to one of the following addresses:
Aldrees Petroleum and Transport Services Co Remuneration and Nomination Committee 1-Company Headquarters, Khuris Road, Exit 28, Riyadh 2-Post Address: • P.O. Box 609 • Riyadh 11421 3-E-mail: gmhrd@aldrees.com
For inquiries, please contact at the following numbers: 0112355555 Ext (100,103) |
| Application Requirements | The nomination will be in accordance with the provisions contained in the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the Policies, Standards and Procedures for Membership in the Board of Directors and the Committees approved by the General Assembly of the Company's shareholders, provided that all the following documents are attached to the nomination application:
1. A detailed Curriculum Vitae (CV) that includes qualifications and experience in the company's field of business. 2. Attaching a copy of the personal ID , in addition to the contact numbers. 3. A statement of the boards of directors of the joint-stock companies and the committees in which the nominee has previously been a member, and their history and membership status, as well as a statement of the boards of directors of the joint-stock companies and the committees in which the nominee is still a member and the status of membership. 4. A statement of the companies or establishments in which the nominee participates in ownership or management, and which engage in activities similar to the company's activities. 5. A nominee who previously served as a member of the Board of Directors of Aldrees Company must provide the following information: A. A statement from the company’s management showing the number of board meetings held in each year of the term, the number of meetings attended by the member, and the percentage of his attendance to the total number of board meetings. B. The names of the committees in which the member participated, the number of meetings held by each of those committees during each year of the term, the number of meetings attended by the member, and the percentage of his attendance to the total number of committee meetings. 6. Fill in and sign Disclosure Form No. (03) issued by the Capital Market Authority, and attach fill Form NO (01) (attached) and attach it to the nomination application. Voting in the General Assembly of the new session of the Board shall be limited to candidates who meet the conditions, controls and criteria set forth in this announcement, noting that cumulative voting will be used to elect the members of the Board of Directors. |
| Candidate Conditions |  |
| Attached Documents | |
