REPORT OF THE BOARD OF DIRECTORS
Shareholders’ Information & Rights
NSCSA shareholders enjoy all the rights and privileges pursuant to the provi- sions of the company’s memorandum of association and in line with the provi- sions of the company’s Act and the Corporate Governance Regulations duly issued by the Capital Market Authority (CMA). NSCSA Board of Directors and Executive Management are keen to create a favorable environment for the shareholders to enjoy all those rights through easy access to the company’s management or the Shareholders’ Department. In addition to their right of nomination to membership of the Board of Direc- tors, subject to satisfying the applicable regulatory conditions of eligibility. Shareholders also have the right to vote in the general assemblies and select their representatives to the Board membership. Many shareholders participate in the discussions of all company activities and its future plans by attend- ing the General Assembly Meetings. When the General Assembly adopts any dividend distribution, such information will be announced forthwith and the company immediately starts the payment of dividends to shareholders who are registered in the records of the Stock Depository Center (SDC) at the end of trading on the day of the General Assembly Meeting. Dividends will be deposited in shareholders’ portfolios with the respective local banks within a deadline of (30) days from the date of adoption of such dividend distribution by the General Assembly. NSCSA participates in investment forums organized by certain investment companies and also meets with potential investors or current shareholders through meetings organized by interested investing parties. Additionally, the company received many representitives from various investment entities. However, it is to be noted here that the information provided by the company are restricted to only that which it had previously been disclosed through the official channels of communication, consistent with the guidelines of the Cap- ital Market Authority (CMA) and the Ministry of Commerce and the Industry. NSCSA’s website (www.nscsa.com), provides a gateway to shareholders and all other users to communicate with the company on an ongoing basis. This can be used to explore any required information and company updates.These include quarterly and annual reports, operational reports, the companies’ publications and announcements, in addition to shareholders current and previous years. NSCSA also furnishes all the news of it’s performance and activities through official channels such as the “Tadawul” website in accordance with the direc- tives of the Capital Market Authority (CMA), and the disclosure policy duly approved by the company as part of the Corporate Governance Regulations.
The National Shipping Company of Saudi Arabia Annual Report 2010
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