27.1 The corporate governance framework should ensure the faire treatment of all shareholders, including minority shareholders. All shareholders should have the opportunity to obtain compensation if violation of their rights exist and encourage long term share ownership.
27.2 The board shall determine the appropriate procedures to organize the shareholders meetings and voting on the agenda items.
When approving process and procedures for general shareholder meetings all shareholders should be equally treated. These procedures may include:
A- Sufficiently early notification of the meeting time and location. B- Access to information on rules and voting practices of the meeting, including proxy materials and any items were added to General Assembly agenda this information should be provided in addition the Arabic language with a foreign language if it’s needed. Sufficient time should be allowed to suggest any items to be added to the General Assembly time table.
C- Promotion of video-conferencing and electronic voting to enable shareholders to participate in the General Assembly meetings in an easy way.
27.3 The “one-share- one-vote” to be implemented. Regarding voting all shareholders must be treated equally. Any deviation of this rule must be disclosed.
27.4 Board will establish regulations and instructions that encourage institutional investors to use their voting rights and disclose policies on the use of these voting rights.
