23.1.1 Without violation to the disclosure required by approved professional, laws, by-laws and circulars, the company should disclose the following:
A- Company’s operating results of the company B- Transactions with related parties C- Company’s objectives, including ways to create shareholder value. D- Major shareholders and voting rights. E- Benefits and compensation for the board members. F- Material foreseeable risks. G- Governance structures and policies as well as policies on business ethics/code of conducts. H- Shareholder meeting results. I- Employment policies including employment procedures and representation levels to act on the behalf of the company, and material issues regarding employees. J- Stakeholders relations (customers, suppliers, communities, political parties, etc) and K- Environmental policies and procedures. The board shall carry out the above mentioned disclosure requirements within the period specified by the board.
23.1.2 The company is not expected to disclose information that might endanger their competitive position, unless withholding this information would mislead investors. 23.1.3 Board’s disclosure. The following information should be disclosed about the board: A- Names of Directors and short information on qualifications. B- Any material interests in transactions or matters affecting the corporation (disclosure on Director independence) C- Number, structure and scope of responsibility of board committees, in particular the accountability of the committees verses the board responsibilities. D- In case of one control shareholder the company should disclose whether all shareholders are fairly represented in the board.
23.1.4 Shareholder disclosure. The following information should be disclosed by shareholders: A- Disclose capital structures and arrangements that enable certain shareholders to obtain a degree of control disproportionate to their equity ownership. B- Institutional investors should disclose their voting policies, including the procedures for deciding on usage of their voting rights.
23.1.2 The company is not expected to disclose information that might endanger their competitive position, unless withholding this information would mislead investors.
23.1.3 Board’s disclosure. The following information should be disclosed about the board: A- Names of Directors and short information on qualifications. B- Any material interests in transactions or matters affecting the corporation (disclosure on Director independence) C- Number, structure and scope of responsibility of board committees, in particular the accountability of the committees verses the board responsibilities. D- In case of one control shareholder the company should disclose whether all shareholders are fairly represented in the board.
23.1.4 Shareholder disclosure. The following information should be disclosed by shareholders: A- Disclose capital structures and arrangements that enable certain shareholders to obtain a degree of control disproportionate to their equity ownership. B- Institutional investors should disclose their voting policies, including the procedures for deciding on usage of their voting rights.
23.2 Character of disclosure
23.2.1 Timing. Information on material developments occurring between regularly published company reports will be disclosed immediately to all market participants simultaneously and at minimum cost.
23.2.2 Accuracy. All information disclosed should be accurate and adequate.
23.2.3 Means of disclosure: Information to be disclosed to all shareholders through reports, circulars, periodical, electronic should be published through media.
23.2.4 Confidentiality of price: Sensitive information Share price sensitive information should be disclosed. Other information that will withhold should be treated confidentially, and insider trading restrictions should be applied. The Directors should handle the information and documents they receive within the scope of their duties with appropriate confidentiality.
