Saudi International Petrochemical Company (Sipchem) is pleased to announce to the Shareholders the opening of nominations for the next three year term of Board of Directors that starts as of 11/03/1438H, corresponding to 10/12/2016.
Any shareholder who is interested in nominating himself and who owns shares in the Company with no less than a nominal value of SAR10,000 (equal to 1000 shares) should submit an application to the Company Nominations and Remunerations Committee by not later than Sunday, 15/01/1438H, corresponding to 16/10/2016. In making an application the applicant must take into account the terms and conditions mentioned in the circular of the Ministry of Commerce and Industry No. 222/9362/3245 of 18/06/1412 and the Corporate Governance regulations and Listing Rules of the Capital Market Authority (CMA). Each application shall include the following:
1- A written request signed by the nominee, setting out his CV qualifications, practical experience in the field and the scope of his company business.
2- A declaration stating the number and dates of other companies Board of Directors that the nominee had been appointed for membership.
3- A list of the names of the Joint Stock Companies where the nominee is still a member of that company Board of Directors.
4- A list of the companies and organizations where the nominee is part of management or holds a share of the ownership and which companies exercise business works similar to those of the Company.
5- If the nominee has previously served as a member of the Board of Directors of Sipchem, he must attach a statement from the Company recording the last term he was appointed for Board membership and including the following information:
- Number of meetings of the Board of Directors which took place during each year of the term and number of meetings which were attended by the applicant personally and the attendance percentage for aggregate meetings.
- The permanent committees in which the applicant had participated in and number of meetings held for each of those committees during each year of the entire period and the attendance percentage for aggregate meetings.
- Summary of the Financial Year Results the Company achieved during each year of the entire period that the Applicant was a member of the board.
6- The nominee should also complete CMA form (Disclosure form # 3) and attached it to his nomination application. This form can be obtained from the CMA website (http://www.cma.org.sa/Ar/FormsSite/Pages/Disclosure.aspx)
7- Nominee should include with his application a clear copy of his ID or CR in case of companies and establishments with the nominees contact numbers. (Phone/ Fax and Email).
8- The General Assembly Meeting, that is to be held to elect the new board of directors, shall only consider those applicants who nominated themselves for the membership according to the rules aforementioned and who are approved by the competent authorities.
The Nomination Application and the CMA form should be sent to the following:
Saudi International Petrochemical Company (Sipchem)
Nomination and Remuneration Committee Secretary. P.O. Box. 130 Al-Khobar 31952
Email ([email protected])
For further information, Please contact 013-3599641or 013-8019373