MTCC opens applications for board director position representing general shareholders

Maldives Transport and Contracting Company (MTCC) has announced that applications are now open to fill a vacant position for a director representing general shareholders on its board. The deadline for submissions is Tuesday, the 24th of this month, at 14:00 noon. According to MTCC, Article 57 of the company’s operating regulations stipulates that, based on the current shareholding ratio, five directors are appointed by the government while two are elected to represent general shareholders. The company has also encouraged women to apply, echoing the Corporate Governance Code of the Capital Market Development Authority (CMDA). Applicants must be Maldivian citizens, at least 30 years old, and must be shareholders or nominated by a corporate shareholder. Additional requirements include completing the Record Review Form, being familiar with the company’s business and operations, possessing the ability to analyze financial reports, not being bankrupt or having unpaid debts, and having no disqualification or suspension from board duties in the past five years. MTCC stated priority will be given to candidates with higher education and experience in corporate governance, business development, law, finance, and related sectors. Applicants will be evaluated by the company’s Board Nomination and Remuneration Committee, and the election will be held at a Special General Meeting. Information about nominated candidates will be made public to shareholders prior to the meeting. Applications can be submitted through MTCC’s Shareholders Online Portal (sop.mtcc.com.mv).