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ANNUAL REPORT
2016
whereby it takes the following into consideration upon organizing the general meetings of shareholders:
- Address the invitation to shareholders to attend the general assembly meeting, comprising the agenda,
time, and venue of organizing the meeting, through announcement according to the mechanismoutlined
in the executive regulation of the Companies Law.
- The Company illustrates and indicates to shareholders that the shareholder is entitled to authorize
another person to attend the general assembly meeting according to a particular power of attorney or
authorization prepared by the clearing agency for this purpose.
- The Company permits shareholders before convening the general assembly meeting by a sufficient
time to obtain all the information and details relevant to the agenda items to enable shareholders to take
their decisions properly.
- The Company permits the shareholders to effectively participate in the general assembly meetings and
discuss the topics listed on the agenda with the associated inquiries related to the aspects of the various
activities and address questions in connection with them to members of the board of directors and exter-
nal auditor. The board of directors or external auditor shall answer the questions by the extent which does
not expose the Company interests to damage.
- To enable shareholders holding five percent of the Company capital to add items on the agenda of the
general assembly meetings.
- The Company provides the opportunity to all shareholders to exercise the right of voting without plac-
ing any hurdles leading to the prohibition of voting, as voting is a genuine right of the shareholder and
may not be canceled by any means. The Company guarantees the exercise by all shareholders of this right
through the following:
• Shareholders enjoy the rights of voting granted to them, and with the same treatment by the Company.
• The shareholders are able to vote personally or by proxy, and giving the same rights and duties to
shareholders whether personally or by proxy.
• Inform the shareholders of all the rules controlling the voting procedures.
• Provide all the information concerned with voting rights to each of the current shareholders and po-
tential investors.
•All shareholders are permitted the right of voting on any changes relevant to the shareholders’ rights by
vitiation to the meeting of the general assembly of shareholders.
• Voting to select members of the board of directors takes place in the general assembly through the
mechanisms stipulated by the Company memorandum and articles of association under the framework
stipulated under the Companies Law and its executive regulation, in addition to the Company ‘s provi-
sion of a profile on the candidates to members of the board of directors before voting, which provides to
shareholders a clear idea on the professional and technical skills of the candidates, their experiences and
other qualifications.
• All categories of shareholders are provided with the opportunity to call into account the board of di-
rectors for the tasks entrusted to them.
• Not impose any fees for the attendance of any category of shareholders of the general assembly meet-
ing or offer any preferential advantage to any category over the other categories of shareholders.
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