Corporate Governance

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Governance Functions

Out of the company’s management’s keenness to implement governance, it always seeks to implement the best governance practices in order for the company to gradually reach the best in order to achieve the highest levels of disclosure, transparency and integrity in order to reach a balance between all stakeholders (owners – shareholders – employees – all dealers with the company), Through the corporate governance structure that defines the distribution of rights and responsibilities among all parties. Objectives :- Transparency and disclosure, accurately and in a timely manner, regarding the company’s financial position and material events. – Compliance with the provisions, laws, regulations and articles of association of the company. Providing a working environment for all stakeholders. Providing the necessary protection towards the exercise of shareholders’ rights. Governance is the main channel of communication between the company and all stakeholders.

The nature of censorship

The company’s management avoids favoritism when selecting suppliers and dealers, and is keen on making the selection on the basis of objectivity and pre-determined criteria that are applied to all dealers with the company… The administration carries out its responsibilities with complete integrity and objectivity, and for that it presents the transactions with the related parties, if any, to the Audit Committee to ensure the validity and integrity of the transactions and approval, then submit them to the Board of Directors to vote on them before making a decision to approve these transactions, and then the announcement is made About these transactions in the notes supplementing the financial statements (nature of transactions – value of transactions – doubtful debts). Collect it – the value of current balances) – in the light of Law 203 of 1991 as well as Law 159 of 1981 with Articles Nos. -100:96- that regulate such transactions in matters not provided for in Law 203.

Auditing Committee

The Audit Committee shall be composed of a number of non-executive directors. The number of its members shall not be less than three members. Among its members shall be a member of the experts in financial and accounting affairs. The appointment of one or more members outside the company in the absence of sufficient number of members of the Board of Directors, The Board of Directors is composed of non-executive and non-executive members.

Risk Committee

Risk management, risk management or risk management is the process of measuring and evaluating risks and developing strategies to manage them. These strategies include transferring risks to another party, avoiding them, reducing their negative effects, and accepting some or all of their consequences. It can also be defined as the administrative activity that aims to control risks and reduce them to acceptable levels. More precisely, it is the process of identifying, measuring, controlling and reducing risks facing the company or institution.

Internal control over internal transactions

In compliance with the rules of listing on the Egyptian Stock Exchange – the company’s management issued its instructions to abide by the internal control procedures on (internal transactions) according to the following:

First: It is prohibited to deal with the shares of the Company for the members of the Board of Directors and the Executive Directors in accordance with Article (38) of the Listing Rules and Article (66) of the executive procedures issued by the Commission’s decision. It is also prohibited to deal with the shares of the company for its employees and related groups except through the officials relations with investors

Second: In the case of the desire to deal on the shares of the company are followed procedures prepared internal publication, which regulates this deal, not to exploit the availability of internal information, as well as avoid dealing in periods of luck

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