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BUPA ARABIA FOR COOPERATIVE INSURANCE ANNOUNCES THE START OF THE BOARD NOMINATION PERIOD FOR THE BOARD MEMBER VACANCY

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IntroductionBupa Arabia announces the start of the nomination period for the appointment of a new Board member, due to the Board member vacancy due to the Company increasing its Board size, from eight (8) to nine (9) members, as per the new Company By-Laws, as approved by the shareholders in the General Assembly meeting of 12 November 2019G, the result of which announced on 13 November 2019G. The Board member appointment to complete the current term, which term started 1 July 2019G and will end on 30 June 2022G. Applicants must send their nomination notification in accordance with the Company’s Nomination and Appointment Policy (as attached), the requirements for Appointments for Senior Positions in Financial Institutions as supervised by the Saudi Arabia Monetary Authority (SAMA), and in accordance with the Corporate Governance Regulations of Saudi Arabia, as issued by SAMA and the Capital Market Authority (CMA).
Type of AssemblySupplementary Session
Assembly Start Date2019-07-01 Corresponding to 1440-10-28
Assembly End Date2022-06-30 Corresponding to 1443-12-01
Number of members1
Application Start Date2019-12-09 Corresponding to 1441-04-12
Application End Date2020-01-09 Corresponding to 1441-05-14
Applications Submission MethodPlease be advised that anyone wanting to nominate themselves to become members of the Board of Directors, should submit a nomination request to the Company, care of the Nomination and Remuneration Committee, and either

send it to the postal address: P.O. Box 23807 Jeddah, 21436,

or Fax it to 012-6920525

or Email it to: invest@bupa.com.sa

Application Requirements1. Submitting of the request to the Company, in English or Arabic, including the nominees resume of experience (current and prior roles), and PDFs of: a) Saudi ID and Family ID, b) Passport, c) significant qualifications, along with the supporting documents.

2. It is a requirement for any nominee that has held the position of Board Member in any joint stock company to provide the following information:

A. The number of Board of Directors meetings that took place during all of the years of the term and the number of meetings that the nominee member attended and the percentage of attendance.

B. The Board Committees that the nominee participated in as a formal Committee member, and the number of meetings held for each of these committees during each year of the term.

C. A brief about the financial results that the company achieved during the nominees Board term.

3. A list of all the joint stock companies that the nominee is still a Board member, or Committee member, of.

4. A list of the companies or establishments that the nominee manages or owns, and wherever the nominee is engaged in business which relates to Bupa Arabia’s business.

5. Completing the Fit and Proper form issued by the Saudi Arabian Monetary Authority, including the submission of the required supporting certificates and other documents, and which form can be found on SAMAs website: http://www.sama.gov.sa/en-sa/Insurance/Pages/Forms.aspx

6. Completing form (3) as issued by the Capital Market Authority, and which can be found on the CMA’s website: http://www.cma.org.sa/Ar/FormsSite/Pages/Disclosure.aspx

7. The nominee shall not be a member of the Board of Directors of any other insurance and/or reinsurance Company.

8. The nominee shall not hold membership in more than five Boards of publicly listed companies at one time.

9. It is not allowed, except after written approval from SAMA, for a person who has held a similar position in a liquidated Company, or was previously dismissed as a Board or Committee member, to nominate himself.

10. To be attached with the nominees application, a clear copy of the nominees Passport and/or National ID for individuals, the Commercial Registration for companies and establishments, and the phone numbers of the nominee(s).

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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