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Term
Definition
across different food categories (e.g., Edible
Oils/Fats, Sugar, Pasta and Sea Foods) in different
countries (e.g., KSA, Iran, Egypt, Turkey, Algeria,
Sudan, Morocco)
2.
Panda Retail Co.
(Panda): 91% owned by Savola
Group; Panda owns and operates many stores
(supermarkets, hypermarkets and convenient stores
“Pandati” in KSA and outside).
18
Stakeholders
Any person who has an interest in the Company,
including shareholders, employees, creditors, customers,
suppliers, public and private organizations and the
community.
19
Remunerations/
Compensations
Amounts, allowances and equivalents, periodic or annual
bonuses linked to performance, long or short term
incentive schemes and any other in-kind benefits except
the actual reasonable expenses and fees incurred by the
Company to enable the Board or Committee member to
perform his/her duties.
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Cumulative Voting
A voting method for the selection of Board members that
grants each shareholder the voting power proportionate
to the number of shares he holds. He shall be entitled to
vote for one candidate or to divide them among his
chosen candidates without repeating these votes. This
method is adopted by Savola as a mechanism for electing
its Board of Directors.
21
Financial Year
A calendar year commencing in January and ending on 31
December.
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Day
Calendar day, unless otherwise indicated in this Manual.
Abbreviations:
CEO
Chief Executive Officer
CFO
Chief Financial Officer
GCIAO
Group Chief Internal Audit Officer
CMA
The Capital Market Authority
MOCI
Ministry of Commerce and Investment
CG
Corporate Governance
Bylaws
Article Of Association (Bylaws of the company)
OpCos
Operational Companies
AC
Audit Committee
RNC
Remuneration and Nomination Committee
CSRC
Corporate Social Responsibility Committee
IC
Investment Committee
LoA
Level of Authority
GA
General Assembly
