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Element list
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Explanation
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Date of publishing the previous Announcement sought to be
corrected on Tadawul’s Website
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12/03/1442H, corresponding to 29/10/2020
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The Incorrect statements in the previous announcement
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Introduction: It has been
mentioned in the announcement on opening of nomination for shareholders or others
who are interested to apply for the Company’s Board membership for the
forthcoming new term
Conditions & requirements for
nomination as below:
A written consent of the nominee shows his
interest to apply for the membership of the Board of Directors including
his profile and a resume included his qualifications, previous work
experiences in the Company field of business and his current work
attached with all supporting documents thereof.
The nominee must conduct and show his
commitment with the highest related code of ethics and values.
The nominee must have a vast experience in
corporate business or governmental or non-profitable organizations or
have a professional expertise shows that the nominee is capable to
provide significant or instant contribution in the Board discussions and
in taking decisions.
The nominee must have specific skills and
expertise that shall add or complete the set of expertise and skills
available in other Board Members.
The nominee must effectively, continuously and
appropriately handle considering and balancing the legal interests and
the affairs of other parties of interest upon reaching decisions.
The nominee must have the required capability
to provide suggestions on the matters to be listed in the Assemblies and
Board of Directors agenda.
The nominee must be aware of the Companies laws
to ensure the continuation of the Company profitability improvement and
the rate or the value of its shares.
The nominee must have the capability to
contribute in approving the main strategies and goals of the Company and
in supervising the implementation thereof.
The nominee must be aware of manufacturing,
preferably electrical products, in order to monitor the operational and
financial conditions of the Company.
The nominee must not be engaged in activity or
activities that may have conflict of interests with his position as the
Board Director of the Company.
The nominee must have capability to perform his
tasks as the Board Director and must allocate adequate time to perform
these tasks.
The nominee must attach a copy of his ID,
family card and means of contact.
Fill the Disclosure form No. (3) issued by CMA
and attach it with the nomination application including a list of the
companies or firms in which management or ownership the nominee is
engaged and which of them is practicing works similar to the Company or
which have contracts or interests with the Company, taking into
consideration the requirements of Companies Governance regulation in
relation to the conflict of interests. Form can be obtained by visiting
CMA website: cma.org.sa
Provided that, Nominations and Remuneration Committee will
consider, upon preference between the nominees, the variety of scientific
qualifications and work expertise of the nominee and will give priority in
nomination to the persons with the appropriate skills that shall be available
in the Board Director. The voting in the General Assembly will be restricted
to the nominees satisfying the aforesaid conditions and requirements. The
Nominations and Remuneration Committee will not consider any incomplete
applications. The time the next General Assembly meeting will be announced
later after having the approval of the concerned parties.
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URL of the Previous Announcement
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Click Here
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The Correct Statements
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Introduction: Saudi Cable Company is pleased to announce to its
respective Shareholders opening of nomination for Company’s Board membership for
the forthcoming new term which will start from 14th January 2021 for a period
of three years. The nomination to the Board Membership shall be pursuant to
the provisions of the Companies Law, Corporate Governance Regulations issued
by Capital Market Authority, Articles of Company bylaws and Rules of the
Charter of the Company’s Nominations & Remunerations Committee as it
approved by Shareholders General Assembly.
Voting on electing the
nominees will take place on the forthcoming General Assembly Meeting, which shall
be announced later.
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Application
Submission Method
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Saudi
Cable Company
Attention: Nominations & Remunerations Committee/
Shareholders Department.
P. O. Box: 4403 Jeddah 21491
E-mail : mshehween@saudicable.com
Phone No. :
012-6087500/ 012-6087220
Fax : 012-6352220/
012-6370023
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Application Requirements
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Nominee must observe the regulations, rules and
procedures on Membership of the Company’s Board, that have been approved by resolution of the
Extraordinary General Assembly (23) held on Sunday 227/04/1439H, corresponding to 14/01/2018.
The Board Member must be of professional competency,
possesses the necessary expertise, knowledge, skills and independence in order to perform his tasks efficiently and capably and
particularly must own the following:
Leadership: Nominee must
have leadership skills that promote authorization of powers and capacities in
a way that leads to stimulating performance and the application of the best
practices of effective management and show his commitment with the
professional code of ethics and values.
.None interference of Board Members in
the tasks and authorities delegated to the Company’s executive management.
Competency: Nominee must have appropriate scientific
qualifications, expertise and professional and personal skills, have level of
training and practical experiences related to the current and future activities
of the Company, in management or economics, accounting, law or governance, in
addition to the ability to learn and interest in continuing training.
Direct & control: Nominee must have technical, leadership, management
capabilities, immediate decision-making, understanding of technical
requirements related to work confidentiality, capable for strategic
direction, planning and a clear future vision.
Knowledge in finance: Nominee must be able to read, understand and
discuss financial statements and reports.
Fitness: Nominee must be free of any health problems that
may hinder exercise of his tasks and duties.
There must be at least one member who has
administrative and professional competencies in manufacturing and Company
field of activity.
The General Assembly must consider upon
electing Board Members the Recommendation of the Nominations &
Remunerations Committee and the availability of the necessary personal and
professional characteristics for the nominee to perform his duties in
effective way pursuant to Corporate Governance Regulations (Related Article)
Official Requirements:
Clean copy of valid National ID or
Resident Identity as well as the family registry (for married), nominee’s
contact numbers including his telephone, mobile, fax and email. Nominee’s Curriculum vitae (CV). Fill CV form No. 1 (Attached).Fill form No. 4 (see, CMA website, the
following link:
https://cma.org.sa/RulesRegulations/FormsSite/Pages/default.aspx
Fill nomination notification form (In
accordance with the membership regulations and procedures).
Ensure that all information have been
properly filled in the aforesaid forms.
In case that the nominee has previously a member of
the Company’s’ Board of Directors, he
must attach with the application the following details (As stipulated on
the regulations and procedures for
Board Membership):
The number of Board meetings that were
held during the last Board’s term in which he became a member of the Board,
the number of meetings he attended in person, and percentage of his
attendance compared with the total number of meetings being held.The permanent committees in which the nominee had participated and number of meetings of each committee during the last session
in which he became a Board member, number of meetings attended and percentage
of his attendance compared with the total number of meetings being heldRemunerations & Nominations Committee
will study all the applications received by it, pursuant to Paragraph (2), Article
(65) of Corporate Governance Regulations issued by the Capital Market
Authority. Incomplete applications will be disregarded.
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Additional information
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N/A
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Attached documents
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Nomination requirements
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