Disclosure Policy and Procedures

    Framework of the Disclosure and Transparency Policy

    The company believes in the active role of the principles of disclosure and transparency established by the relevant laws and regulations, which constitute a guarantor of achieving the integrity and credibility of the stock exchange market in the interest of the company’s shareholders, and reflects positively on the company reputation among local and regional circles. The company adopted an effective comprehensive disclosure system that stipulates an obligation to disclose the various types of disclosures required in accordance with laws and regulations based on the three following main aspects:

    • Disclose of vital company information
    • Disclose interests
    • Regulating dealing in securities of insiders

    Whereas the company make the necessary disclosures of vital company information which has vital effect on the financial position of the company, affecting the careful investor’s decision when trading the security of the company or any of its subsidiaries, at the time specified for such disclosures a way that protects the company's investment interests and ensures the disclosure of vital information in a timely manner.

    Furthermore, the company undertakes to disclose all interests in which the beneficiary person is represented, whether directly or indirectly or in alliance with others, or to disclose the ownership of the group and collective investment systems in accordance with the specific frameworks, which are mentioned in the relevant laws and regulations.

    To ensure the principle of transparency and justice for all company share traders, whether they are from the public traders or the insiders in the company and its subsidiaries, the company regulates, in accordance with the laws and regulations, the trading operations of insiders who have access to the vital information, by putting all effective measures to maintain the confidentiality of the internal information and ensuring that dealing in it with a great deal of necessary confidentiality, except for the requirements for disclosure in accordance with laws and regulations, whether those of the company or customers. An emphasis is put on approving contractual arrangements with service providers that regulate insider trading, maintaining updated records of insiders, submit regulatory bodies with such records, in addition to maintaining trading records and insiders notifications and members of Board of Directors, and attain necessary notifications from insiders in that regard.