Savola Corporate Governance Code
Since 2004, Savola developed a special code for corporate governance, and it has been amended several times since that date, the most recent update was in 2017 after the Capital Market Authority (CMA) issued the CG regulation in February 2017. This CG code includes the best CG practices and sound rules of management, most notably: this code includes the disclosure and transparency standards and policies, conflict of interest policy, confidentiality policy, Insider trading policy, shareholders and stakeholder’s rights, the board of director responsibilities and charter; in addition to identifying the responsibilities of the executive management, and the level of authority between the Group and its subsidiaries as well as policies and procedures for internal control activities, internal audit and risk management. The CG framework also includes the company's committees’ charters and they are:
- Audit Committee
- Remuneration & Nomination Committee
- Investment Committee
- Corporate Social Responsibility Committee
In addition, CG framework includes the company's bylaws, and the code of conduct and ethical values:
Corporate Governance Documents:
The Group CG rules, policies, principles and guidelines can be accessed through the following links:
2 - Reference, Compliance and Implementation of Effective Governan`ce
3 - Rights of Shareholders and facilitation of exercising of their rights
4 - Board of Directors and Executive Management
5 - Committees of Savola
6 - Conflict of Interest Policy and Addressing of Potential Conflict of Interest Cases
This English version of this Manual is a translation of the original Arabic document and has been made for information purpose for Non-Arabic speakers. In case of any discrepancy or misinterpretation, the original Arabic document of the said policy shall prevail.
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