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Eligibility Criteria

According to the Securities and Commodities Authority (SCA) regulations, potential candidates seeking to apply for a DFM-listed company  Board membership must meet the following requirements:

a. The candidate shall have at least five years of experience in the field of the Company which he/she is nominated for its Board membership.

b. The candidate shall not have been previously sentenced to a criminal penalty or for an offense that involves a breach of honor or integrity unless his/her character has been vindicated.

c. The candidate shall not have been subject to a judgment of discharge or dismissal from the Board of Directors of any shareholding company listed on the financial market during the year preceding the nomination.

d. The candidate’s civil record issued by the Authority shall be clear of any administrative penalties.

e. The candidate shall not be subject to any lawsuits, reports, or prosecution investigations concerning any offense that involves a breach of honesty and integrity.

f. The candidate shall fulfill any other terms stipulated in the UAE Companies Law or the Company’s Articles of Association.

g. The following documents shall be submitted to the Company:

1. The candidate’s CV including work experience, qualifications, and the Board seat applied for (Executive, Non-Executive, Independent);

2. An undertaking to comply with the provisions of the UAE Companies Law and the decisions issued in implementation thereof and the Company’s Articles of Association, and that the candidate will exert the due care of a prudent professional person during the performance of his/her duties;

3. A statement of the names of companies and corporations which the candidate works for or serves as a member of the Boards of Directors therein, as well as any other works the candidate performs directly or indirectly that constitutes competition to the Company;

4. In case of the legal person’s representatives, an official letter from such legal person shall be submitted; containing names of his/her nominees for Board membership.

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