CmaBoardReleases
Title: Circular No. (01) of 2023 Regarding the Governance Report
“Circular to All Companies Subject to the Provisions of Module Fifteen (Corporate Governance)” of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments
Chairman of the Board of Directors
The CMA would like to draw your attention to the provision of Item No. (9) of Article (3-7) of Module Fifteen (Corporate Governance) of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, which stipulates that all entities shall prepare an annual report to be cited in the annual general assembly including the requirements and procedures of completing corporate governance rules and commitment degree thereof. However, this report shall be included in the annual report of company activities and showing the complied and non-complied rules and excuses for the same. Such report shall be prepared as a minimum pursuant to Appendix 2 of this Module.
Therefore, your Company is required to fill out the form to fulfill the requirements of the governance report through the governance system in the CMA's electronic portal, along with attaching a copy of the governance report and the audit committee report before the date of the Company's ordinary general assembly.
Othman I. Al-Issa
Acting Managing Director
Issued on: 23/01/2023