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Arabian Pipes Company (APC) announces the opening of Board Members Candidate Nomination for next session

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IntroductionArabian Pipes Company (APC) announces to the Shareholders the opening of nominations for membership of the Board of Directors for the upcoming three years term starting from May 23, 2021 to May 22, 2024.

The candidacy will be in accordance with the provisions of the Companies Law issued by the Ministry of Commerce and the Corporate Governance Regulations issued by the Capital Market Authority, in addition to the policies, standards and procedures for membership in the Board of Directors

Candidates will be elected during the General Assembly meeting, which will be announced later, and after obtaining the necessary approvals from the regulatory authorities.

Type of AssemblyNew Session
Assembly Start Date2021-05-23 Corresponding to 1442-10-11
Assembly End Date2024-05-22 Corresponding to 1445-11-14
Number of members8
Application Start Date2021-01-14 Corresponding to 1442-06-01
Application End Date2021-02-14 Corresponding to 1442-07-02
Applications Submission MethodApplication of candidacy must be submitted before the end of nomination period, by submitting it during the official working hours of the company to one of the following addresses:

Arabian Pipes Company (APC)

PO Box 42734, Riyadh 11551

Email: nominations@arabian-pipes.com

For enquiries, please contact the following number:

Tel: +966-11-2650123 Ext. 226

Fax: +966-11-2650312

Application RequirementsIn the presence of the provisions governing membership of the Board of Directors stipulated in the Companies Law and the Corporate Governance Regulations, the conditions, and procedures for nomination for membership of the Board of Directors are as follows:

1) Fulfill the general conditions for membership of the Board of Directors and the nomination requirements stipulated in the policies, standards and procedures for membership in the Board of Directors (attached).

2) Submit a written application signed by the candidate declaring his desire to run for membership in the Council according to the form (attached) within the period specified in the announcement.

3) Submit Form No. (1) CV. (Attached)

4) Submit a signed copy of Form No. (3) issued by the Capital Market Authority for candidacy for membership of the Board of Directors (attached).

5) All documents and certificates attached to the nomination request must be in Arabic and certified by the official authorities, and the nominee must provide a certified Arabic translation of any documents written in a foreign language.

6) The candidate should not be a government employee except for those appointed by the state sectors.

7) Attach clear photocopies of valid national ID card, family card (if applicable), and passport (for non-Saudi) and the contact numbers of the nominee and photo of the nominee.

8) Submit a statement containing details of the number and dates of memberships on the boards of directors of other joint-stock companies and the committees that he / she has assumed or still holding.

9) Submit a statement in which the candidate discloses any direct or indirect interest in the business and contracts that are made for the company.

10) Submit a statement containing details of companies or institutions that the Nominee manages or owns, and which conduct similar business to the Company.

11) The candidate should not been convicted of a crime breach of honor and trust.

12) The candidate must fulfill all the decisions issued against him by the Capital Market Authority.

13) The candidate must have good manners and reputation personally and professionally.

14) The candidate must have experience in the field of company business or similar business.

15) The candidate have the ability to allocate sufficient time to contribute to directing the company’s business and policies.

16) The candidate must have leadership and ability to understand, analyze, problems evaluate them and find appropriate solutions.

The remuneration and Nomination Committee will review the nomination request submitted to it. Votes at the General Assembly may only be cast for nominees who have been nominated for the membership of Board of Directors in accordance with the previous conditions and Criteria set forth, whose information will announce by the company in accordance with Paragraph (a) of Article 8 of the Corporate Governance Regulations issued by the Capital Market Authority.

Candidate Conditions
Attached Documents      

The Capital Market Authority and the Saudi Stock 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.

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