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Eastern Province Cement Co. Announces Calling Candidature for Board Members Elections

EPCCO 3080 -0.54% 36.75 -0.20
Element List Explanation
Introduction Eastern Province Cement Company is pleased to inform its shareholders of the opening of nominations for membership in its Board of Directors to elect nine members, provided that at least three of them are independent members according to the definition of an independent member stipulated in the governance system issued by the Saudi Capital Market Authority

The nomination process will take place for the next session of the membership of the Board of Directors in accordance with the provisions contained in the Companies Law issued by the Ministry of Commerce, the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the membership policy approved by the ordinary general assembly of the company (attached copy). However, candidates will be elected to the Board of Directors during the next General Assembly meeting, which will be announced later.

Type of Assembly New Session
Assembly Start Date 2021-01-29 Corresponding to 1442-06-16
Assembly End Date 2024-01-28 Corresponding to 1445-07-16
Number of members 9
Application Start Date 2020-08-09 Corresponding to 1441-12-19
Application End Date 2020-09-09 Corresponding to 1442-01-21
Applications Submission Method Nomination Application shall be submitted during the official working hours of the Company, before the nomination End Date, by sending their request through any of the following addresses:

Eastern Province Cement Co. - Remuneration and Nomination Committee

8501 King Fahd Road – Khobar - Rawabi Dist. Postal Code 34421 Additional number 2439

Email: [email protected]

For more information please call 0138812222 Est. 4444/4402

Application Requirements In light of the provisions regulating the membership of the Board of Directors set forth in the Law of Companies and the Corporate Governance Regulations, the conditions and procedures for nomination for membership in the Board of Directors are as follows:

1- The candidate shall submit a written request duly signed by the candidate confirming his desire for the membership in the Board of Directors (attached).

2- Submission of a CV containing his personal data, qualifications and experience in the company’s field of business.

3- A statement containing the number and dates of the boards of directors of companies or establishments in which he has participated.

4- A statement listing the joint-stock companies in which he still assumes its membership.

5- A statement listing the name of companies or establishments in which he owns or participates in their management that are carrying out activities similar to those of the company.

6- If the candidate had previously been a member of the board of directors of the Eastern Province Cement Company, 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.

c) A summary of the financial results achieved by the company during each year of the board of directors’ term.

7- The candidate shall no previous convictions for an offence against honor or a breach of trust;

8- The candidate shall satisfy all decisions issued Capital Market Authority in connection with his nomination.

9- The candidate shall be of good conduct and behavior enjoying a good personal and professional reputation.

10- The candidate shall have an experience in the field of company business or similar business.

11- The candidate shall have an ability to allocate a sufficient time for directing the company's business and policies.

12- The candidate shall have an ability to read and analyze balance sheets.

13- Having a good knowledge of planning and management.

14- The candidate shall have a spirit of leadership and the ability to understand, analyze and evaluate problems and find appropriate solutions to them.

15- He must have an appropriate educational qualification.

16- The candidate shall be at least 25 years of age.

17- Shall be independent and have no conflict of interest.

18- Each candidate shall fill in the “Form No. (1)” CV (copy enclosed).

19- Filling and signing the Form No. (3) Regarding the CV of the candidate for membership to the Board of Directors (copy enclosed).

20- The candidate must attach a valid copy of his National Identity Card for the individuals, as well as the Family Register (for the married), contact numbers, including phone, mobile, fax and e-mail.

21- Certified Arabic translation of any documents written in a foreign language.

22- An undertaking by the candidate, if he is elected to the membership of the Board of Directors, to provide the required disclosures in accordance with the provisions of Conflict of Interest Policy for members of the Board of Directors and senior executives.

The Nomination and Remuneration Committee will study the requests of candidates in terms of the provisions contained in paragraph (2) of Article 65 of the Corporate Governance Regulations issued by the Capital Market Authority.

Note: Voting in the General Assembly will be limited to those who nominated for membership of the board of directors only.

Candidate Conditions
Attached Documents

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