Annual report eng.2019

63 ANNUAL REPORT 2019 Accurate Disclosure and Transparency in the Right Time • Mechanisms of accurate and transparent presentation and disclosure which outline the aspects, fields and features of disclosure Accurate disclosure is one of the fundamental features and methods for follow up of the Company activities and evaluate its performance, as it contributes in informing the shareholders and investors of the Company structures and activities, as well as the applicable policies by the Company, in addition to evaluating the Company’s performance in connection with the ethical criteria. Through the corporate governance framework, the Company board laid down the mechanisms for accurate and transparent presentation and disclosure which outline the aspects, fields and features of disclosure, wheth- er in connection with the topics or elements which should be disclosed. The disclosure method comprise the financial and non financial information and data related to the Company financial position, performance and equity, through disclosure to Boursa Kuwait, the Capital Markets Authority, Dubai Financial Market and the Securities and Commodities Authority (Dubai), in a manner assisting stakeholders to view the Company status in an integrated manner. Further, the Company discloses with complete transparency and accuracy all the information and data in the right time for all the parties and stakeholders without discrimination, as per the disclosure forms approved by the Capital Markets Authority. The board is keen to review all the Company applicable disclosure and transparency systems and mechanisms period- ically, and ensure that they are in line with the best leadership practices applicable in this respect, in addition to being consisting with those applicable by the Capital Markets Authority. Further, the Company has prepared the compliance checklist which comprises the identification of the information which should be disclosed, their classification mecha- nism in terms of their nature or in terms of the periodicity of disclosing them, as per the disclosure and transparency mechanisms and systems of the Company. • Board of directors and executive management members’ disclosures The Company has a register for the disclosures of the board of directors and executive management members, whereby it includes the disclosures of the percentages of equities and trading on the Company’s shares in addition to the declara- tions and undertakings submitted in their capacities as informed persons, which are updated according to the provisions of the executive regulation of the Capital Markets Authority Law. This register is accessible by all the Company sharehold- ers. All the Company shareholders are entitled to access the same without any fee or consideration. Further, the Company updates the details of this register periodically which reflects the reality of the positions of the related parties. • Investors Affairs Regulation Unit The Company has an Investors Affairs Regulation Unit, which is responsible for providing and making available the required financial data and information and reports to the potential investors. The Investors Affairs Unit enjoys the ap- propriate independence in a manner permitting it to provide the reports, data and information in the right time and accurately, by directly contacting the Unit through the Company website and the website of Boursa Kuwait and Dubai Financial Market.. • Development of the information technology infrastructure and reliance on it extensively for disclosure processes The Company development the infrastructure of the information technology it uses and relies upon for all its operations, whereby it uses several programs in its various departments, including for example (Microsoft Ax Dynamics) in the Fi- nance Department, (Menaitech) in the Human Resources and Administrative Affairs Department, (Teamwork) program in all the Company departments, (Sharepoint) program in the Documents Control Department, (CRM) program in the Real Estate Department, (Primavera) in the Projects Department, (Boardvantage) program in connection with the board of directors meetings, (Office 365) program, also the DIEHL metering software is used to read electricity consumption electronically in addition to other programs for the use by the Information Technology Department. Further, the Company has a dynamic and effective website which comprises all the information, data and disclosures in connection with the Company’s businesses and the latest developments, in addition to a special section on corporate governance as the Company maintains and updates the website periodically. Seventh Rule