Arriyadh Development Co. — Board/Management Information 2025

Feb 26, 2025

Riyadh Development Company announces the opening of nominations for membership in the Board of Directors

4150 · 26/02/2025 08:37:56 · Announcement #85451 · View on Saudi Exchange

Riyadh Development Company announces the opening of nominations for membership in the Board of Directors

Element List

Explanation

Introduction

Riyadh Development Company announces the opening of nominations for membership in the company's Board of Directors for the next session, which begins on June 25, 2025 AD for a period of four calendar years ending on June 24, 2029 AD, noting that nominations for membership in the Board of Directors will be in accordance with the provisions of the Companies Law and its Executive Regulations, the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the company's bylaws.

The nominated members will be elected at the General Assembly meeting of shareholders, the date of which will be announced later after obtaining the necessary approvals from the competent authorities.

Gentlemen wishing to nominate themselves for membership in the Board of Directors who meet the conditions and criteria for membership must submit their nomination applications within the specified period and in accordance with the details contained in this announcement.Type of AssemblyNew SessionTerm Start Date2025-06-25Term End Date2029-06-24Number of members8Nomination Start Date2025-02-26 Corresponding to 1446-08-27Nomination End Date2025-03-27 Corresponding to 1446-09-27Applications Submission MethodThe originals of the nomination applications and their attachments (after completing all their data in Arabic and English and signing them) must be sent via email:

faldajani@riyadh.devPolicy and criteria of nominationEach shareholder has the right to nominate himself or another person or more for membership in the Board of Directors. The candidate must meet all the nomination conditions for membership in the Board of Directors stated in the criteria and procedures for nomination for membership in the Board of Directors (attached) and complete the following requirements in accordance with the period and dates stipulated in this announcement and in accordance with the policies, criteria and procedures for membership in the Board of Directors of the company and the applicable rules and regulations:

1- Anyone who wishes to nominate himself for membership in the Board of Directors of the company must disclose his desire to nominate himself by means of a notification submitted to the company's management. This notification must include a definition of the candidate in Arabic and English in terms of his CV, qualifications, and practical experience. (attached)

2- The candidate must disclose any cases of conflict of interest that include the existence of a direct or indirect interest in the business and contracts concluded on behalf of the company or his participation in a business that would compete with the company, or compete with it in one of the branches of activity it carries out.

3- The candidate must submit a signed copy of Form No. (1) for the CV issued by the Capital Market Authority after filling it out electronically in both Arabic and English. (Attached)

4- The candidate must submit a signed copy of the (CV Form) issued by the Capital Market Authority after filling it out electronically in both Arabic and English (attached), and it can be obtained from the Capital Market Authority website at the following link https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx

5- The candidate who has previously served as a member of the Board of Directors of a joint-stock company must attach a statement of the number and dates of the boards of directors of the companies in which he served.

6- The candidate who has previously served as a member of the Board of Directors of the company must attach to the nomination notification a statement from the company's management about the last session in which he served as a member of the board, including the number of board meetings that took place during each year of the session, the number of meetings that the member attended in person, his attendance rate to the total meetings, the permanent committees in which the member participated, the number of meetings held by each of those committees during each year of the session, the number of meetings he attended, and his attendance rate to the total meetings.

7- The candidate must attach a copy of the national identity card, family card - if any - passport for non-Saudis running for council membership and any other relevant documents required by the company to meet the regulatory requirements.Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi ExchangeAttached 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.