Corporate governance

At Hassan Allam, we believe that good governance means being clear about roles and responsibilities, as well as following proper procedures. All Hassan Allam companies follow the same governance rules, giving our management teams clear guidelines on how to operate consistently. However, following rules is not enough; we must comply with their spirit.

Board composition

Our Board of Directors includes several Non-Executive Directors who are considered independent. Key decisions require consent of independent directors to ensure good governance practice.

Responsibility of the Board of Directors

The Board takes ultimate responsibility for the welfare of the company by guiding and monitoring its business affairs. It is responsible for formulating, reviewing and approving the company's strategy, financial activities and operating performance.

The Board has established two principal committees:

Audit & Governance

Nomination & Remuneration

Each of these committees has a written Terms of Reference which is available on request.

The Board meets regularly throughout the year at least four times. But the day-to-day management of the company's resources is delegated to its senior management teams, under the leadership of each operating Group’s Chief Executive Officer. This facilitates prompt decision-making.

The Board, through the Chairman and Executive Directors in particular, maintains regular contact with the company's advisors and financial public relations consultants. They do this to ensure that the Board understands the views of shareholders.

A Director must declare any conflict of interest. They cannot participate in discussions or resolutions relating to any matter in which the Director has a material personal interest without Board approval.

In discharging their duties, Non-Executive Directors are provided with direct access to senior management and outside advisors and auditors. Board Committees and individual Directors may - with the Chairman's approval - seek independent professional advice at the company's expense in order to perform their duties.

Risk management

Hassan Allam’s audit function ensures that financial, technical, environmental and social standards are met. Each separate business operates to a number of different quality standards.

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