Ooredoo Invites Applications for Director Position on Board of Directors

Ooredoo Maldives has announced an open call for applications for the position of Director on its Board of Directors. This role is designated to represent the interests of the general shareholders within the company.

Applicants aspiring to join the Board of Ooredoo Maldives must fulfill specific criteria, including:

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• Shareholder Status: Applicants must either be a shareholder of Ooredoo Maldives or be nominated by a legal entity shareholder, with nominations supported by a board resolution.
• Qualifications and Competencies: Candidates should possess the qualifications and competencies outlined in the Companies Act 2023 and the Corporate Governance Code issued by the Capital Market Development Authority of the Maldives.
• “Fit and Proper” Guidelines: Compliance with the “Fit and Proper” Guidelines for Directors of Listed Companies, as issued by the Capital Market Development Authority of the Maldives, is mandatory.
• Educational Background: A degree from an internationally recognized university is a prerequisite.
• Professional Experience: Applicants should have a minimum of ten years of experience serving in a senior position within the public or private sector, either in the Maldives or internationally.
• Board Experience: Candidates should have experience serving as a Board Director in at least one active company, demonstrating a record of meaningful contribution.
• Limit on Board Directorships: Current Board Directors should not serve on more than two companies listed on the Maldives Stock Exchange.
• Absence of Conflicts: A 12-month gap is required for individuals who have served on the board of a competitor or a regulator before being eligible for the position.
• Employment Status: Applicants must not be current employees of Ooredoo Maldives, a competitor, or a regulator.
• Family Relations: Immediate family members (spouse and children) should not be employed by Ooredoo Maldives or a competitor.
• Conflict of Interest: Applicants must be free of conflicts of interest and possess the ability to make independent and impartial decisions.
• Qualities for Consideration: The Nomination and Remuneration Committee will assess candidates based on integrity, decision-making skills, financial acumen, business achievements, responsibility, cooperation, and strategic thinking.

In a move to promote gender diversity on the Board of Directors, Ooredoo Maldives encourages applications from women.

The Nomination and Remuneration Committee (NRC) will evaluate applications and provide recommendations to the Board of Directors. Details of eligible applicants will be communicated to shareholders in February 2024, along with the Notice & Agenda for the Annual General Meeting (AGM) scheduled for March 2024.

Shareholders attending the AGM can cast their votes either in person or through a proxy. The elected Director will serve from the AGM in March 2024 until the commencement of the AGM in 2026.

To apply, interested individuals are required to submit a duly completed application form and relevant documents by 10:00 hours on Monday, 29th January 2024. The application form is available on the company’s website (https://www.ooredoo.mv/investors) or can be obtained by contacting investor.relations@ooredoo.mv.