Bahri Annual Report-2011

The National Shipping Company of Saudi Arabia

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These Regulations are binding on the Company, members of its Board of Directors, all its employees and shareholders. The rules contained in these Regulations are mainly based on the Company’s Articles of Association, Capital Market Law and its implementing regulations and decisions issued pursuant thereto and the Corporate Act.

These regulations have been prepared as instructed by the Board of the Capital Market Authority, and in accordance with the provisions of the indicative regulations issued by the CMA board in order to ensure compliance with best corporate governance practices which safeguard the rights of shareholders and the rights of stakeholders, cope with the requirements, take advantage of new opportunities to work effectively and to respond to the expectations of shareholders and other parties of stakeholders.

The Company’s corporate governance regulations, as approved by the Board of Directors on 20/12/2009, are based on the Articles of Association and internal regulations of the Company, which are consistent with the executive regulations issued by the Capital Market Authority and the Saudi Companies Act. The purpose of these Regulations is to assist the Board of Directors in the fulfillment of its obligations and the development of the effectiveness of the Board and its committees, and to ensure achieving the objectives of the Company.

Board of Directors: The Board of Directors, at its current term (2011 - 2013), consists of nine members. The Board of Directors assumes its responsibilities

conduct of business within the framework of policies, plans and regulations approved by the Board and the General Assembly.

as manifested in the steering and oversight role of leading the Company and drawing its strategies. On the other hand, the executive management undertakes the role of executive

Details for the attendance of the chairman and board members for the meetings held during 2011

Name

Classification (1/11) (2/11) (3/11) (4/11) (5/11) (6/11) (7/11) (8/11) (9/11) (10/11) (11/11) (12/11)

Abdullah Sulaiman Al-Rubaian Mohammed Abdulaziz AlSarhan

√ √ √ √ √ √ √ √ √ √ √ √ 12

Chairman

Vice Chairman

√ √ √ √ √ √ √ √ √ √ √ √ 12

Esam Hamad Al-Mubarak

√ √ √ √ √ √ √ √ √ √ √ √ 12

Member

Nasser Mohammed Al-Kahtani

√ √ √ √ √ √ √ √ √ √ √ √ 12

Member

Saleh Abdullah AlDebasi

√ × √ √ √ × √ √ √ √ √ √ 10

Member

Abdulkarim Ibrahim Al-Nafie

√ √ √ √ √ × √ × × √ √ √ 9

Member

Farraj Mansour Abothenain

√ √ √ √ √ √ √ √ √ √ √ √ 12

Member

√ √ √ √ √ √ √ √ √ √ √ √ 12

Abdullah Ali Al-Ajaji

Member

Ghassan Abdulrahman Al- Shibl

√ × × √ √ × √ √ √ √ √ √ 9

Member

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