| Element List | Explanation |
|---|---|
| Introduction | The Savola Group announces the opening of the nomination for membership of the Board of Directors for the next four-year term starting on 01/07/2025 and ending on 30/06/2029.
In light of that, candidates who wish to nominate themselves for the Board of Directors membership, and who meet the relevant conditions and standards are required to submit their nomination’s applications within the specified period, and in accordance with the details stipulated in this announcement.
It is worth noting that nomination 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 (CMA), in addition to the Company’s bylaws, and the Board Membership Policy approved by the Company’s General Assembly (attached), the candidates are required to provide the Company with the following required documents:
1. Submit a singed letter addressed to the Company indicating the candidate's desire to nominate him/herself for membership of the Board of Directors, along with the candidate's resume, qualifications, and experience in the Company's field of business, in accordance with the relevant regulatory forms and requirements.
2. Submit a statement including the names of the joint-stock companies in which the candidate is a member of their boards of directors and committees.
3. Submit a statement of the companies or entities in which the candidate participates in their management or ownership that carry-out and engage in activities similar to the Company's business.
4. Submit the Resume Form No. (1) in Arabic and English (attached).
5. Submit a signed copy of Form No. (3) which was issued by the CMA for candidacy of membership in the Board of Directors (attached).
6. Attach a clear and valid copy of the national identity card for individuals, as well as the family ID (for married persons), a copy of the passport for non-Saudis, and any other relevant documents required by the Company to meet the requirements of the regulatory authorities.
Candidates will be elected for the Board of Directors membership during the Company’s General Assembly meeting which will be announced later after obtaining the necessary approvals from the competent authorities. |
| Type of Assembly | New Session |
| Term Start Date | 2025-07-01 |
| Term End Date | 2029-06-30 |
| Number of members | 11 |
| Nomination Start Date | 2025-02-09 Corresponding to 1446-08-10 |
| Nomination End Date | 2025-03-11 Corresponding to 1446-09-11 |
| Applications Submission Method | Shareholders wishing to nominate themselves for the Board membership are required to address their applications for the Board membership nomination to the Chairman of Remuneration and Nomination Committee, and send the applications together with the attachments and the relevant forms to the Board Secretary by email or at the Company address as follows:
- Email: CGNour@savola.com - or the below address: Savola Group, 2444 Taha Kusaifan-Ashati Unit No. 15 , Jeddah 23511-7333 Ashati District, Jeddah, Prince Faisal Bin Fahd Road,
Also, the nominees may contact us during the official working hours at the Company’s direct landline: 012-2687797 |
| Policy and criteria of nomination | Attached |
| Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange |  |
| Attached Documents | |
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