CHEMANOL announces opening of nomination for Board Directors

16/02/2015 09:05 AST

Methanol Chemicals Company is pleased to announce to the shareholders the opening of nomination for Board of Directors Membership for a term of three years starting from November 12, 2015 until November 11, 2018. Shareholders who are interested to nominate themselves may submit their nomination requests within the period from Tuesday February 17, 2015 to the close of business on Sunday March 8, 2015 as per the guidelines stated in the Ministry of Commerce and Industry Circular No. 222/9362/3245 issued on 18/06/1412 H, and Circular number 222/205/3800 dated 26/12/1420 H, as well as the relevant Circulars issued by the Capital Market Authority and the Company Polices, Standards and Procedures of Board Membership as approved by the General Assembly on May 7, 2014. The nomination request must include the following requirements

1-Submitting a written request signed by the nominee including his CV, qualifications and experience in the field of Company business.

2-The Nominee who had previously served as a member of the Board of Directors for any Joint Stock companies must indicate the number and duration of his memberships at the Boards and Board Committees of these companies.

3-The Nominee must submit a statement of the Joint Stock companies where he is still a Board member.

4-The Nominee must submit a statement specifying his participation in the management or ownership of companies or organizations operating in a similar line of business.

5-If the Nominee had previously served as member of the Board of Directors of Methanol Chemicals Company, he must attach to the Membership Application a statement issued by the Company Management of the last term during which he was a Board member including the following information:

a-The number of meetings of the Board of Directors during each year of the term, the number of meetings attended by the member personally and the percentage of his attendance at all Board meetings.

b-Names of Permanent Committees which the member participated in, the number of meetings held by each committee during each year of its term and the percentage of his attendance at all meetings.

c-Summary of Financial Results achieved by the Company during each year of the term. 6-A clear copy of the nominee valid ID must be attached or copy of CR in case of companies and establishments along with an attested nomination letter and the nominee contact information Phone, Fax and Email.

7-The nominee must fill up, sign and attach Capital Market Authority CMA form No 3 Disclosure Form- which can be obtained from the CMA website www.cma.org.sa Voting in the General Assembly Meeting - that is to be determined later- shall be exclusive on those who nominated themselves for the Board membership according to the rules aforementioned and who are approved by the competent authorities.

Tadawul