Arriyadh Development Co. — Board/Management Information 2022

Jan 2, 2022

Riyadh Development Company announces the opening of candidacy for membership of the Board of Directors for the next session

4150 · 02/01/2022 09:22:07 · Announcement #66175 · View on Saudi Exchange

Riyadh Development Company announces the opening of candidacy for membership of the Board of Directors for the next session

Element List	Explanation
Introduction	Al-Riyadh Development Company is pleased to announce to the shareholders the opening of candidacy for membership of the company’s board of directors, in order to select 7 members, among whom at least three will be independent members, according to the definition of the independent member stipulated in the Corporate Governance Regulations issued by the Capital Market Authority.

The candidacy for membership of the Board of Directors for the next session shall be in accordance with the provisions contained in the Companies Law issued by the Ministry of Commerce and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the Board Membership Policy (attached) approved by the Ordinary General Assembly. The members of the Board of Directors will also be elected for the next session during the next General Assembly meeting, the date of which will be announced later.Type of AssemblyNew SessionAssembly Start Date2022-06-25 Corresponding to 1443-11-26Assembly End Date2025-06-24 Corresponding to 1446-12-28Number of members7Application Start Date2022-01-02 Corresponding to 1443-05-29Application End Date2022-02-02 Corresponding to 1443-07-01Applications Submission MethodCandidacy applications shall be submitted in full during the official working hours of the company, from seven thirty in the morning to three thirty in the evening, by handing to the corporate governance specialist or the secretary of the Remuneration and Nominations Committee, before the end of the candidacy date at the company’s head office at the following address:

Kingdom of Saudi Arabia - Riyadh

Al-Deira District - King Fahd Road - Al-Tameer Wholesale Center

Third round

Location:

https://2u.pw/JhC6Q

Or by sending it to one of the following addresses:

Riyadh Construction Company

Remuneration and Nominations Committee

1- Postal address:

• s. B 7442

• Riyadh 11462

2- National Address (Wasel):

• Riyadh Development Company

• Building No. 6529

• Ext. 2486, Al-Deira District

• Zip Code 12634

• Riyadh, Saudi Arabia

3- Email:

faldajani@ardco.com.sa

For more inquiries, you can contact Shareholder Relations

By phone: 0114110333 Ext.: 1103Application RequirementsIn accordance with the conditions, controls and requirements contained in the Companies Law, the Corporate Governance Regulations and the registration and listing rules issued by the Capital Market Authority, and in accordance with the policies, standards and procedures for membership in the Board of Directors of Riyadh Development Company (attached).

The application for candidacy must include the following:

- Curriculum vitae of the candidate, explaining his personal data, qualifications and experience in both Arabic and English (according to the attached form).

- A copy of the national ID (residency or passport for non-Saudis), and the family record (for the married).

- A statement of the companies in which the candidate previously held membership in their boards of directors, the date of the membership, its expiry date, and the legal form of the company.

- A statement of the companies in which he is still a member of their boards of directors, with a statement of the date of membership and the legal form of the company, bearing in mind that the candidate cannot participate in the membership of the board of directors of more than five joint stock companies listed in the financial market at one time.

- A statement of the companies or institutions that the nominated member participates in managing or owning.

Disclosure of any case of conflict of interest that includes the existence of any direct or indirect interest in the business and contracts that are made for the company's account or his participation in a business that would compete with the company, or its competition in one of the branches of the activity he is engaged in.

- Fill out and sign Disclosure Form No. (3) issued by the Capital Market Authority, and attach it to the nomination application, which can be obtained from the following CMA link:

https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx

- In the event that the candidate has previously served as a member of the Board of Directors of Al-Riyadh Development Company, he must attach with the candidacy application a statement that includes the following:

1- The number of Board meetings held during the last term in which he assumed the membership of the Board, the number of meetings he attended in person, and the percentage of his attendance compared to the total meetings held.

2- The permanent committees in which the member participated, the number of meetings held by each of those committees during the last term in which he became a member of the Council, the number of meetings he attended and the percentage of his attendance compared to the total meetings held.

3- A summary of the financial results achieved by the company during the last term in which he was a board member.

Note that the cumulative vote will be used to elect the members of the Board of Directors.Candidate ConditionsAttached Documents      

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.