Copyrights © All Rights Reserved to Savola Group
36
Ninth.
Stakeholders
1)
Organizing Relations with Stakeholder
The Board shall establish clear and written policies and procedures to regulate the
relationship with stakeholders in order to protect and preserve their rights, including the
requirements stipulated in Article (83) of the CMA's CG Regulations. In light of this, the
Board has developed the following policy:
Stakeholders’ Relation Policy
1)
Purpose
The purpose of this policy is to outline the guidelines that shall govern Savola Group for
issues related to Stakeholder Relations within Savola Group (“Savola” or the “Company”)
and enable them to file complaints, grievances and report any violating practices.
2)
Overview
Savola’s Board of Directors is committed to the highest ethical standards as Savola desires
its stakeholders to have strong faith and commitment towards it. Stakeholders can be
defined as individuals or groups of individuals that have a direct or indirect stake in an
organization who can affect or be affected by the organization’s actions, objectives and
policies. Key stakeholders in an organization include “shareholders, Executive
Management, employees, customers, creditors, banks, suppliers, local community and
government”. In order to develop successful stakeholder relations, Savola Group shall
abide by the following principles:
Those affected by Savola’s business have the right to be informed about the
Company’s activities, participate in a transparent stakeholder engagement process
and be involved in issues and opportunities that affect them.
Stakeholders shall be provided with timely and accurate information about the
business.
Savola Group shall keenly seek out feedback from its stakeholders on its business
decisions.
Savola Group shall encourage stakeholders to define the manner in which they wish
to be consulted, and shall strive to remain flexible and responsive to stakeholder
preferences.
Savola Group respects the values and culture of each stakeholder.
Savola Group shall ensure that the Company’s transactions with Board members and
related parties are entered into on terms identical to the terms of transactions with
stakeholders without any discrimination or bias.
3)
Main Stakeholders
The table below shows the groups of stakeholders and their main interests and impact on
Savola:
Stakeholder
The Company responsibility towards stakeholders
a)
Shareholders
Savola Group is committed to creating sustainable shareholder
value, in order to maximize their investments, achieve reasonable
financial returns and act in the Shareholders’ best interest provided
