Takween Advanced Industries Co. — Board/Management Information 2016

Feb 17, 2016

TAKWEEN ADVANCED INDUSTIRES ANNOUNCES THE OPENING OF NOMINATIONS FOR MEMBERSHIP TO THE BOARD OF DIRECTORS.

1201 · 17/02/2016 08:01:04 · Announcement #41219 · View on Saudi Exchange

TAKWEEN ADVANCED INDUSTIRES ANNOUNCES THE OPENING OF NOMINATIONS FOR MEMBERSHIP TO THE BOARD OF DIRECTORS.

Takween Advanced Industries is pleased to announce to its shareholders, the opening of nominations for membership to the Board of Directors for the next session (third session) for a period of three years which will start from 22/11/2016 G. That the nominees are elected in the next General Assembly meeting which will be announced later after obtaining the necessary approvals from the competent authorities. The shareholders who wish to nominate themselves for membership of the Board of Directors who meets the criteria for membership in the Board which include:

1. The nominees shall hold shares of Takween Advanced Industries.

2. The nominee shall possess appropriate qualifications, skills, knowledge and experience to contribute to the prosperity of the company. The nominee shall devote to be devoted to the w sufficient time for functions and the responsibilities of the Board.

3. The board of Directors shall collectively maintain the required balance to effectively and competently carry out its duties.

4. The nominee for directorship is expected to demonstrate an ability to function effectively in an oversight role and knowledge on both financial and legal aspects. The nominee is expected to have reasonable knowledge of Takween business and its activities, in particular.

5. The nominee is expected to act with honesty, integrity and credibility. The nominee shall not be previously convicted of dishonor or dishonesty crime.

6. The nominee shall not be a board member of more than 5 other joint stock companies simultaneously.

7. The nominee shall not be a government employee. The conditions should be met as set forth by the circular by the Ministry of Commerce and Industry No. (222/9362/3254) date of 18/06/1421 AH, and Circular No. (222/205/3800) date of 26/12/1420 AH

Nominees, who have interest for the membership of the Board of Directors, shall inform the Nomination and the Compensation Committee with the following requirements:

1. Submit a written request signed by the nominee express his Details of the nominee in terms of curriculum vitae, qualifications and experience in the area of the Company's business. The form can be obtained from the company Head Office.

2. Indicate the number and the periods of membership of the boards of joint stock companies of which the nominee has been a member.

3. Statement of all the joint stock companies of which the nominee is still a member.

4. Membership type shall be clarified, i.e. if the member is an executive member or a non-executive member or an independent member.

5. The membership nature shall be clarifies, i.e. if the member is a nominee for himself or if he represents a legal person.

6. Statement of all companies and institutions that participate in the management or ownership of the work and exercise similar to the work of the company.

7. Any nominee who is a previous company board member shall enclose with the nomination notice a statement from the company administration on the last session in which he/she was a board member including the flowing information:

The number of the board meetings held in each year of the session years

The standing committees in which the member participated, the number of the meetings held by each committee within one year of the session period, the number of the meetings he attended and the percentage of his attendance to the total meetings.

Summary of the financial results achieved by the company during each year of session.

8. Fill out the Capital Market Authority form No. 3 (CV of a nominee for membership of the Board of Directors of model listed company on the Saudi Stock Exchange), which can be accessed from the site of the Capital Market Authority on the following link:

http://www.cma.org.sa/Ar/FormsSite/Pages/Disclosure.aspx

9. Attach a clear and valid image of national identity, family card and passport for individuals or the commercial register of companies and institutions with the nomination request and contact numbers for nominee.

10. Sign pledges board members, in the case has been nominated by the shareholders. Also, sign a statement and pledged of conflict interest transactions for members of the Board of Directors and Committees, in the case has been nominated by the shareholders

The Nomination and Remuneration Committee will take into consideration variety of academic qualifications and practical experience and giving priority of nomination to the required needs of persons having appropriate skills for the board of directors. The number of independent members shall not be less than one third of the board of directors. The vote in the General Assembly will be limited to those who nominated themselves in accordance with standards mentioned earlier.

Submission of applications starts from 17/02/2016 and close on 06/03/2016. The nomination documents are addressed to the Secretary of Nomination and Remuneration Committee at the following address:

Second floor, Twairqi Tower, situated on King Fahd bin Abdul Aziz Rd. (Dammam - Khobar Highway), Al Raka District, Khobar City P.O. Box 2500, Khobar 31952.

Telephone: 0138534325

Fax: 0138534343

Email: IR@takweenai.com

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.