On the basis of CMA’s strategy to hierarchy impose some mandatory provisions set forth in the Corporate Governance Regulations in order to create an environment that protects the rights of shareholders and based on clause (B) of Article 1 of the Corporate Governance Regulations. The Board has issued a resolution numbered (1-33-2011) and dated 3-12-1432H / 30-10-2011, as a part of CMA’s efforts to ensure the best practices in Corporate Governance and develop related principles and criterion. The resolution consisted of the following:

1.      Clause (B) of Article 10 of the Corporate Governance Regulations is obligatory on the companies listed on Tadawul as the beginning of 1-1-2012.

2.      The listed company should provide CMA with the written policy referred to in sub-clause (1) of clause (B) of Article 10 of the Corporate Governance Regulations after it is approved by the company’s board in a date no later than the second quarter of 2012. It should also inform CMA with any editions once approved.