| Element List | Explanation |
|---|---|
| Introduction | Astra Industrial Group is pleased to announce the opening of nominations for membership in its Board of Directors for the upcoming term, which will commence on April 22, 2025, and conclude on April 21, 2028, for a duration of three years. This is in accordance with the provisions of the Companies Law, the Corporate Governance Regulations issued by the Capital Market Authority, and the company’s approved Policy, Standards, and Procedures for Board Membership.
Board members will be elected at the General Assembly Meeting of shareholders, the date of which will be announced later after obtaining the necessary approvals from the competent authorities.
Individuals meeting the conditions and criteria for board membership who wish to nominate themselves are invited to submit their applications during the specified nomination period, as detailed below. |
| Type of Assembly | New Session |
| Term Start Date | 2025-04-22 |
| Term End Date | 2028-04-21 |
| Number of members | 9 |
| Nomination Start Date | 2025-01-15 Corresponding to 1446-07-15 |
| Nomination End Date | 2025-02-27 Corresponding to 1446-08-28 |
| Applications Submission Method | Nomination applications and all required forms should be submitted to the Nomination and Remuneration Committee Secretary within the specified period. Submissions can be made through the following methods:
1. National Address (Wasel): 8128 Salah Al-Deen Al-Ayoubi Road – King Abdulaziz Unit No. 1 – Postal Code 12233 Additional Number 4322 Riyadh, Kingdom of Saudi Arabia.
2. Hand-delivery to the company’s headquarters during official working hours.
3. Via email to Khaled.albalawi@aig.sa |
| Policy and criteria of nomination | Candidates must meet all conditions and criteria for Board membership as stipulated in the relevant laws, regulations, and the Policy, Standards, and Procedures for Board Membership approved by the company’s General Assembly (attached). These include the following:
1. Each shareholder has the right to nominate themselves or another individual(s) for Board membership.
2. Submission of a signed Board Membership Nomination Application Form (attached), along with a clear copy of the candidate’s national ID card (or residence permit/passport for non-Saudis).
3. A brief resume of the candidate, detailing their qualifications and professional experience.
4. Completion and signing of Form (3), the Candidate CV Template for Board Membership in Listed Companies (attached and available on the Capital Market Authority’s website).
5. Submission of signed copies of Form (1), the Candidate CV Template, in both Arabic and English (attached).
6. Candidates who have previously served on the board of a listed company must provide a statement listing the number and dates of boards they currently or previously served on.
7. Candidates must not simultaneously serve as a board member in more than five listed companies in the Saudi financial market.
8. Candidates must disclose to the Board and the General Assembly any conflicts of interest, as per the procedures established by the authority, including:
a. Any direct or indirect interest in the company’s transactions or contracts.
b. Participation in any business that competes with the company or its activities.
The Nomination and Remuneration Committee will review all submitted applications. Incomplete applications will not be considered. Voting at the General Assembly will be limited to candidates who have fulfilled the requirements and criteria specified in this announcement.
Best Regards, |
| Attachment of the CMA approved resume for the nominees for board memberships in the joint-stock companies listed on the Saudi Exchange |  |
| Attached Documents | |
The Capital Market Authority and Saudi 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.