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up on the implementation of their recommendations, directions and decisions, facilitating
the communication process between their members, and providing administrative and
logistical support. Each Committee shall set the remuneration and payment method of its
respective secretary according to the relative Savola policies.
Reporting:
The Chairman of each respective Committee shall provide periodic report to Savola’s
Board about the performance and main achievements of the Committee. Each respective
Committee shall prepare and publish an annual Committee report to the extent required
under applicable laws and regulations. Each respective Committee shall report regularly
to the Board on its activities and major decisions and recommendations. The report to the
Board may take the formof an oral or written report by the Chairman or any other member
of the Committee designated by the Committee to make such a report.
Assessment of Committee’s Performance
1)
Each Committee shall perform an evaluation of its performance according to its
respective charter under the supervision of the RNC, and for that, the Committee
considers whether it dealt with issues that are within, or should be within its scope
of work. The Committee should deal with all issues relevant to its specialization,
and these issues include the following:
The quality and comprehensiveness of information obtained by the
Committee.
The reports and recommendations the Committee gives to the Board
The way the information has been discussed, and whether the number and the
length of the Committee's meetings were enough to accomplish required work
in a comprehensive and well planned manner.
Attendance and absence of members.
2)
Every Committee provides a report to the Board that includes the evaluation
results, including any suggested modifications.
Committee Charters
Each Committee has its own charter, which includes its duties, responsibilities, follow-up
mechanisms, and the reward methods, and shall not be amended except with the approval
of the Board for the Investment Committee and the Social Responsibility Committee and
upon the approval of GA for the Audit Committee and RNC.
Conflict of Interest Policy
Within the responsibilities and duties of the Board, it shall develop a written and clear
policy to deal with the actual or potential conflict of interest cases that may affect the
performance of the members of the Board or the Executive Management or other
employees when dealing with the Company or other stakeholders. This policy shall be
based on the requirements stipulated in the CG Regulations issued by the CMA and the
Companies Law. In light of this, the Board has developed the following policy:
