Ooredoo opens applications for the post of Board Director to represent general shareholders
The Nomination and Remuneration Committee will evaluate the applications
Ooredoo Maldives
Local telecommunications giant Ooredoo Maldives has opened applications for the post of Board Director at the company, to represent the general shareholders on the company’s Board of Directors.
The company released a statement on Sunday, revealing that the company will be electing a director to represent general shareholders as per Clause 110 (b) of the Articles of Association of the Company.
While the election will be held during the Annual General Meeting during March 2020, the company has also listed the criteria required for interested applicants;
· Must be a shareholder of Ooredoo or nominated by a legal entity shareholder of the company,
· Have the qualifications specified in the Companies Act 1996 and regulations made under it, and the Corporate Governance Code issued by the Capital Market Development Authority (CMDA) of the Maldives, including the criteria set out for an Independent Director,
· Meet the “Fit and Proper” Guidelines for Directors of Listed Companies issued by CMDA,
· Have a degree from a university that is recognized internationally,
· Have at least 10 years of experience in a senior position within the public or private sector in the country or internationally,
· Having been the Board director of at least one active company and can show a record of contribution to the board of the company, and
· Must not be serving as a director of more than two companies listed on the Maldives Stock Exchange.
Further, the statement reads that the company’s Nomination and Remuneration Committee will evaluate the applications and forward their recommendations to the Board of Directors who will then select eligible applicants to shareholders along with the AGM’s agenda.
The elected Board Director will hold office until the beginning of the next AGM set to be held in 2022, reads the statement.
Ooredoo Maldives have made the application forms available through their website or from their head office during business hours on weekdays.
Applications are required to be dropped in to the company’s head office or mailed to the company’s investor relations department.
The deadline is set at 10am on 20 January 2020, a Monday.
