Ooredoo Maldives Plc opens invitation to apply for the Director on the Board of Directors to be elected by the general shareholders


Maldives
PUBLISHED December 29, 2019

Ooredoo Maldives has opened invitations to apply for the post of Director to represent the general shareholders on the Board of Directors of the Company.

Applicants for the post of the Director representing the general shareholders on the Board of Ooredoo Maldives should meet the below criteria: -

-       must be a shareholder of Ooredoo Maldives or be nominated by a legal entity shareholder of Ooredoo  Maldives;

-       possess the qualifications and competencies specified in the Companies Act 1996 (Act No.:  10/96) and regulations made there-under (the "Companies Act") and the Corporate Governance Code dated 14th January 2014 (the "CG Code"), issued by the Capital Market Development Authority of the Maldives, including the criteria set out there in for an Independent Director; 

-       meet the "Fit and Proper" Guidelines for Directors of Listed Companies ("Fit and Proper Guidelines") issued by the Capital Market Development Authority of the Maldives; 

-       be a Degree holder from an internationally recognized university; 

-       have at least 10 (ten) years of experience in a senior position within the public or private sector in the Maldives or internationally; 

-       have experience of being a Board director of at least one active company and can show a record of contribution to the Board of Directors of such company;

-       currently not serving as a director of more than 2 (two) companies listed on the Maldives Stock Exchange.

The Nomination and Remuneration Committee ("NRC") of the Company will evaluate the applications and provide recommendations to the Board of Directors. The Board of Directors will select and communicate the details of eligible applicants to the shareholders along with the Notice & Agenda of the AGM.

Shareholders present at the AGM, can vote in person or through a proxy (each shareholder or proxy is entitled to one vote if voting by a show of hands or one vote for each share held by that shareholder where voting is by poll). The applicant with the highest number of votes will be elected as the Director representing the general shareholders on the Board.

Pursuant to Clause 110(b) of the Articles (as amended and approved by the shareholders at the Extraordinary General Meeting held on Monday 16th December 2019), the Director elected by the general members shall hold office from the AGM at which elected to the commencement of the third AGM thereafter. Therefore, the Director elected at the AGM held in March 2020 shall hold office until the commencement of the AGM to be held in 2022.

All applicants are requested to submit a duly completed application form along with the documents listed therein. The application form can be obtained from the website https://www.ooredoo.mv/investors/ or collected from Ooredoo Maldives Plcs Head Office, 5th Floor, H. Sunleet, Boduthakurufaanu Magu, Male, during business hours (8:30am to 4:30pm) on weekdays (Sunday to Thursday excluding public holidays).

Applications are to be submitted to Ooredoo Maldives Plcs Head Office, 5th Floor, H. Sunleet, Boduthakurufaanu Magu, Male, in a sealed envelope labelled "Application for Director" or sent via an e-mail to investor.relations@ooredoo.mv before 10:00am on Monday, 20th January 2020.

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