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 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 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