The United International Transportation Company (Budget Saudi) announces the initiation of nomination for membership of the Board of Directors
| Element List | Explanation |
|---|---|
| Introduction | The United International Transportation Company (Budget Saudi) is pleased to announce to its shareholders, the opening of the nomination process for the Board of Directors membership for the new term beginning from 21-06-2024 and for four Georgian years that will be ending on 20-06-2028, in accordance with the rules and procedures set out in the laws and regulations in particular those stipulated in the Companies’ Law and Corporate Governance Regulations issued by the Capital Market Authority (CMA) as well as the company’s Board of Directors Membership Policies, Standards and Procedures (attached).
The new Board members will be elected in the next General Assembly meeting, which will be announced later after securing the necessary approvals from the concerned authorities. |
| Type of Assembly | New Session |
| Assembly Start Date | 2024-06-21 Corresponding to 1445-12-15 |
| Assembly End Date | 2028-06-20 Corresponding to 1450-01-27 |
| Number of members | 8 |
| Application Start Date | 2024-02-01 Corresponding to 1445-07-20 |
| Application End Date | 2024-03-03 Corresponding to 1445-08-22 |
| Applications Submission Method | Those wishing to nominate themselves for the Board membership shall address their application for Board membership nomination to the Chairman of Nomination and Remuneration Committee and the application and its attachments and relevant forms shall be sent to the Nomination and Remuneration Committee Secretary Mr. Essa Ahmed Baaziz by email or at the Company address as follows:
1- Email: [email protected]
2- Delivery by mail: United International Transportation Company (Budget Saudi) Secretary of the Nomination and Remuneration Committee Mr. Essa Ahmed Baaziz 6695 King Abdul Aziz Road – Al Basatin Dist. Unit No 92 Jeddah 23719 – 4327 Kingdom of Saudi Arabia
For any inquiries or further information, please contact the company management: Phone No. 0126927070 Ext. 1610 or 1777 or 1115 |
| Policy and criteria of nomination | The candidate must fulfill all the conditions of nomination for the Board of Directors membership in accordance with the relevant laws and regulations, and Board of Directors Membership Policies, Standards and Procedures approved by the General Assembly (attached).
Those wishing to nominate themselves in accordance with his/her ownership percentage for the Board membership shall submit their nomination applications to the Company’s address during working hours and the applications should include the following: 1- Nomination letter for membership in United International Transportation Company (Budget Saudi) Board of directors for the new term (attached template for the nomination letter in both Arabic and English)
2- Form (1) (Attached) in both Arabic and English related to his/her curriculum vitae, his/her qualifications and work experience in the area of the Company's business (forms should be completed and sent in both (Word) and (PDF) format).
3- Nominees must fill out form (3) issued by the CMA (attached); (the form should be sent in (Word) and (PDF) format).
4- Nominees for the membership of the Board shall disclose to the Board and the General Assembly any cases of conflicts of interest, including: a. Having direct or indirect interest in the contracts and businesses entered into for the benefit of the Company in which he/she desires to be nominated to its Board. b. Engaging in business that may compete with the Company or any of its activities.
5- Any nominee who was a board member of a joint stock company or still is shall disclose the names and dates of the boards in which he/she was a member as per the attached templates. 6- A statement of the companies and institutions in which he contributes, participates in their management, or represents.
7- Nominees must specify membership’s type i.e., if he/she is an executive member, a non-executive member, or an independent member.
8- Nominees shall attach with the nomination applications, a clear and valid copy of his ID, family IDs and passport signed by the nominee and his/her contact information.
9- All forms must be completed in Arabic and English.
It’s worth mentioning that the company Nomination and Remuneration Committee will take into consideration the requirements and conditions in line with relevant polices and regulations.
The voting in the General Assembly meeting of the new board term will be limited to the nominees who have satisfied the terms, conditions, and standards indicated in this announcement, knowing that the cumulative voting mechanism will be used to elect the Board members as per the regulations. |
| Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange |  |
| Attached Documents | |
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