The Company is committed to protect the rights of shareholders, and the Board of Directors has approved policies that ensure the protection of the rights of all shareholders and that provides the shareholders to exercise their rights given in the Companies Law and the instructions of the Capital Markets Authority, which includes the following:
Right to be treated on par with other shareholders.
- Right to record the value of shares owned in the Company’s records.
- Right to transact in shares by assigning and/or transferring the ownership of shares.
- Right to receive their share of dividend distribution and bonus shares
- Right to receive their share of Company’s assets, in case of liquidation.
- Right to receive information and data related to the Company’s activities and its operational and investment strategies on a regular and timely basis.
- Right to participate in the General Assembly meetings of shareholders and voting on decisions.
- Right to elect members to the Board of Directors.
- Right to monitor the Company’s performance in general and the Board of Directors in particular.
- Right to hold the Board of Directors and the Executive Management of the Company accountable and right to file claims, in case they fail to perform their entrusted duties.
- Right to view the Company’s Articles and Memorandum of Association, General Assembly minutes, and the shareholder and bondholder registers at the registered address of the Company.
- Right to dispose of the shares owned by the shareholder and to exercise pre-emption rights to subscribe for new shares and bonds or sukuks in accordance with the provisions of the Companies Law and the Company’s Articles and Memorandum of Association.
In addition to the above, the shareholders hold specific rights relating to General Assembly such as:
- (a) Right to request a general assembly meeting if the shareholder holds a minimum of 10% of the capital of the Company.
- (b) Right to grant power of attorney in writing to another shareholder to attend the meeting of the general assembly.
- (c) Right to discuss the matters listed in the agenda and to question the Board of Directors, External Auditors on the same
- (d) Right to receive information on the voting rights, rules and procedures.
The Company shall not bar any of the aforementioned rights for any class of shareholders or lay down criteria which may discriminate between the classes of shareholders in order to establish such rights (currently, the Company has only one class of shares).