Opening the door for nominations for membership in the Board of Directors of “Retal”

Retal Urban Development Company announced the opening of nominations for membership in the Board of Directors for the next session, which begins on May 26, 2025, for a period of four years.
The company said in a statement on Saudi Tadawul: The opening date for nominations is 07-19-1446, corresponding to 01-19-2025, while the nomination closing date will be 08-21-1446, corresponding to 02-20-2025.
Nomination policy and criteria
Nomination will be in accordance with the provisions contained in the Companies Law and its Executive Regulations, the Corporate Governance Regulations issued by the Capital Market Authority, and the policies, standards and procedures for membership in the Board of Directors approved by the General Assembly, provided that candidates meet the following conditions:
1. Fulfilling the general conditions for membership in the Board of Directors and the nomination requirements contained in the policies, standards and procedures for membership in the Board of Directors approved by the company’s General Assembly.
2. Fill out the application form to run for membership in the Board of Directors as attached, within the period specified in the announcement, attaching all the required documents.
3. Fill out and sign Form No. (1) CV in Arabic and English.
4. Fill out and sign Form No. (3) issued by the Capital Market Authority to nominate for membership in the Board of Directors in Arabic and English, clarifying the status and nature of membership, as well as disclosing to the Board of Directors and the General Assembly of the company any cases of conflict of interest in accordance with the procedures established by the Capital Market Authority.
5. Attach a clear and valid copy of the national ID card, family registry, or copy of residency and passport for non-Saudis, and any other relevant documents required by the company to meet the requirements of the regulatory authorities.
6. He must not be subject to a ban on working in joint-stock companies by the Capital Market Authority or other bodies regulating the work of financial markets inside or outside the Kingdom.
7. Submitting a statement that includes the names of the companies or institutions in which he participates in management or ownership and which conduct business competitive with the company’s business. (if any)
The Nominations and Remuneration Committee shall study the applications received by the candidates. The Committee will also exclude incomplete nomination applications submitted during the nomination period, and will also exclude any candidate who does not meet the conditions and standards for membership contained in the policies, procedures and standards for membership in the company’s Board of Directors.