Introduction<\/b><\/h2>\n<\/div>\n

[\/vc_column_text][vc_column_text]The Company has in place a policy of benchmarking against established best practice in the field of corporate governance. The Board has adopted core values and standards which set out the behaviors expected of staff in their dealings with shareholders, tenants, colleagues, agents, business partners and other stakeholders of the Company. One of the core values communicated within the Company is the belief that a high standard of integrity is essential in business conduct.<\/p>\n

The Company has adopted its corporate governance document in accordance with the corporate governance code issued in Bahrain and is committed to corporate governance of highest standards.<\/p>\n

The Company has substantially complied with the new Corporate Governance Code including assessment of the Board, its committees and individual directors with respect to their effectiveness and contribution and our corporate governance practices have further strengthened significantly.[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section][vc_section disable_element=”yes”][vc_row][vc_column][vc_column_text]<\/p>\n

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The Governance Structure<\/b><\/h2>\n<\/div>\n

[\/vc_column_text][vc_column_text]Ownership<\/strong><\/p>\n

The Company is owned by a shareholding structure as detailed in Note 11 to the financial statements. No shares are held or owned by management members or their dependents.<\/p>\n

The Board<\/strong><\/p>\n

The Company is governed through its Board of Directors. The Board\u2019s main roles are to create values for shareholders, to provide entrepreneurial and competitive leadership of the Company, to approve the Company\u2019s strategic objectives and to ensure that the necessary financial and other resources are made available to meet those objectives.<\/p>\n

Following the election at the Company\u2019s Annual General Meeting held on 31 March 2019, the current board of directors has taken charge from 1 April 2019. The Board meets at least four times in a calendar year and has a schedule of matters reserved for its review, discussion and approval. Specific responsibilities of the Board include review of the Company\u2019s strategy, approval of annual budgets, review of periodic operating and financial performance and other matters of a corporate nature.<\/p>\n

Board Committees<\/strong><\/p>\n

The Board has set up various committees with terms of reference and specific mandates to carry out the assigned functions. Areas of responsibilities and functioning are clearly defined for each of these committees that consist of members within the Board who are competent and experienced in relevant fields.[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section][vc_section][vc_row][vc_column][vc_column_text]<\/p>\n

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[vc_section disable_element=”yes”][vc_row][vc_column][vc_column_text] Introduction [\/vc_column_text][vc_column_text]The Company has in place a policy of benchmarking against established best practice in the field of corporate governance. The Board has adopted core values and standards which set out the behaviors expected of staff in their dealings with shareholders, tenants, colleagues, agents, business partners and other stakeholders of the Company. One […]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":1848,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2031","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n