Hamad Mohammed Bin Saedan Real Estate opens board nomination for upcoming term

HAMAD BIN SAEDAN REAL ESTATE
9648 0.71% 8.48 0.06

Riyadh – Mubasher: Hamad Mohammed Bin Saedan Real Estate Company commenced the nomination period for its Board of Directors, where shareholders and qualified candidates can submit their applications starting from 29 June until 29 July 2026

With the nomination window remaining open for one month for the upcoming four-year board term, the new session is scheduled to begin on 31 January 2027 and will conclude on 30 January 2031, according to a bourse filing.

The nomination process is governed by the Saudi Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority (CMA), alongside the company’s internal policies approved by the General Assembly.

According to the disclosure, the Board of Directors for the upcoming term will consist of five members.

The final election of these members will take place during a future General Assembly meeting, the date of which will be announced following the receipt of necessary regulatory approvals from relevant authorities.

Criteria for Candidates

To ensure professional competence and effective governance, the company has established specific criteria for candidates.

Nominees must possess the necessary professional experience, knowledge, and academic qualifications to fulfill their duties.

Eligibility requirements include a minimum age of 25 years and a clean legal record, specifically regarding crimes involving honor or integrity.

Furthermore, candidates must not hold more than five board memberships in listed joint-stock companies simultaneously and must demonstrate the ability to dedicate sufficient time to the company’s affairs.

The company’s governance structure mandates that the majority of the board must be non-executive members.

Additionally, independent members must constitute at least one-third of the board or a minimum of two members, whichever is greater.

This structure is designed to align with Saudi Arabia’s regulatory frameworks for listed entities, ensuring balanced decision-making and oversight.

Source: Mubasher Source: {{details.article.source}}