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Corporate Governance

Corporate Governance is a system which provides for structures and procedures concerning relationships among the Board of Directors, the Managements, the Employees, and the Shareholders. It promotes competitiveness, leads to sustainable growth of an organization and creates added value for the Shareholders in the long run, with proper consideration of other Stakeholders.

1. Rights of Shareholders

The Board of Directors recognizes the significance rights of the shareholders. They will not engage in any action which will violate or diminish the rights of the shareholders. As a result, a policy has been established and disclosed to the public through the various channels of the Company. This policy confirms that the Company supports and encourages the exercising of shareholders’ rights.

2. Equitable Treatment of Shareholders

To assure shareholders of equitable treatment of all shareholders by the Company, the Board of Directors has established a corporate governance policy to require protection of shareholders’ rights and fair and also ensure equitable treatment of all shareholders, aligning with the Civil Law.

3. Responsibilities to Stakeholders

The Board of Directors has established a policy for stakeholders when interacting with them. This policy is observed by the Board of Directors, Managements and Employees of all levels to ensure the proper protection of such rights and the appropriate treatment of such stakeholders. It encourages cooperation between the Company and stakeholders on the creation of wealth, financial security, business integrity, as well as the preservation of the environment, society and, sustainable development.

4. Disclosure of Information and Transparency

The Board of Directors appreciates the significance of information quality and equitable, transparent, and fair disclosure of information via accessible and credible channels. A policy has been established to govern the sufficient, credible, and timely preparation and disclosure of information, financial and otherwise. The information being disclosed must have been prepared carefully, clearly, correctly, transparently and in a manner, which allows an audit to be completed. The language used should be clear, and concise. Crucial information needs to be disclosed regularly, regardless of whether it is positive or negative, in order to maintain the confidence of shareholders and stakeholders and assure them that they are receiving information in an equitable manner as per the requirements of rules, laws and the Articles of Association of the Company and relevant governmental agencies.

5. Responsibilities of the Board of Directors

The Board of Directors realizes the significance of the internal control and has arranged for its implementation in order to provide reasonable assurance of operational efficiency, financial report credibility and compliance with regulations and policies, as well as anti-corruption guidance