AnnualReport

ANNUAL REPORT

2016

ighth

Rule

Observing Shareholders’ Rights

• Protection of the general rights of shareholders to ensure justice and equality among all shareholders

The implementation of the governance rules achieves balance between the Company’s objectives and

the objectives of its shareholders, protects the rights of shareholders and establishes justice and equality

among them. The Company treats all shareholders equally without any discrimination. Under no condi-

tion the Company conceals any information or any of the shareholders’ rights. In this respect, the Com-

pany complies with all the provisions of the law and executive regulation, as well as the instructions

and regulatory conditions. Further, the Company’s articles of association and the corporate governance

framework approved by the board of directors, its internal regulations, procedures and controls required

to ensure that all the shareholders exercise their rights to achieve justice and equality, in a manner which

does not contradict with the applicable laws and regulations, decrees and instructions issued in this re-

spect. Among the general rights of shareholders guaranteed by the Company are the following:

- Register the value of the shareholders’ equity in the Company’s records.

- The shareholders’ right to transact with the shares including the registration of ownership, its transfer

and/ or assignment.

- The right of shareholders to obtain the determined share in the profits distributions.

- The right of shareholders to obtain a share of the Company assets in the event of liquidation.

- The right of shareholders to obtain the data and information concerned with the Company activity,

operational and investment strategy in a regular and convenient manner.

- The right of shareholders to access the shareholders’ register.

- The right of shareholders to participate in the meetings of the general assembly of shareholders and

voting on its decrees.

- The right of shareholders to elect members of the board of directors.

- The right of shareholders to control the Company’s performance generally and the board of directors’

operations in particular.

- The right of shareholders to call into account members of the Company board of directors or executive

management, in the event they fail to perform the tasks entrusted to them.

•Taking into consideration precision and continuous follow up of the shareholders’ data

- For the purpose of continuous follow up of all matters related to the shareholders’ details, the Company

keeps a register kept with the clearing agency, in which the names of shareholders, their nationalities,

domicile and the number of shares owned by each one of them are recorded. The shareholders’ register

is marked with any changes on the details recorded therein according to the details received by the Com-

pany or clearing agency. Every concerned party may request the Company or clearing agency to furnish

it with details from this register.

- The details set forth in the Company shareholders’ register are dealt with the maximum degrees of pro-

tection and confidentiality, in a manner which does not contradict with the law and executive regulation

and the instructions and regulatory controls issued by the Authority.

• Encourage shareholders to participate and vote in the Company general assembly meetings.

The Company regulates a mechanism of participation in the shareholders general assembly meetings,