Fawaz Abdulaziz AlHokair & Co. – (Saudi Joint Stock Company)

In accordance with the provisions of paragraph (c) of the Corporate Governance Regulations issued by the Capital Market Authority (“Authority”), which mandates adoption of Governance System by Joint Stock Company, in line with provision of Corporate Governance Regulations, overall supervision of it, and monitor its effectiveness and modify it as needed, was released through Authority’s Council resolution No. 03-40-2012 dated 17.02.1434 H corresponding to 30.12.2012 G, requiring compliance by all companies listed on Saudi Stock Exchange (Tadawul) starting from 30.06.2013 G.

The Company’s own Governance System, which was approved by the General Assembly of the Company held on 16.07.2013 G, was previously approved by the Company’s Board and submitted to the Authority on 30.06.2013 G.

Purpose of the Corporate Governance System
The Corporate Governance System provides the Company’s Board with the principles of developing the standards and policies and procedures for the exercise of work, and monitoring the compliance of the Board and the employees of the Company, meanwhile identifying the mechanism of keeping it in effect in the manner that ensures or support Company’s interests. The responsibility for meeting the provisions of the Corporate Governance Regulations rests with the Board, which in turn approve and adopt the best practices contained in the regulations for developing the Company’s Governance System.

Framework of the Company’s Corporate Governance System:-

  1. The organizational structure of Corporate Governance
  2. Main principles of the Corporate Governance System
  3. Disclosure and Transparency policy
  4. Board of Directors Manual
  5. Policy and procedures for membership of the Board of Directors
  6. Board of Directors’ Committees
  7. Code of Ethics and Business Conduct
  8. Regulation of Conflicts of Interest Policy
  9. Insider Trading Policy
  10. Shareholders’ Manual
  11. Corporate Social Responsibility Policy
  12. Job Effectiveness Assessment Tools