Sword’s Governance

Sword Company recognize the significant role for Corporate Governance to regulate the activity of securities in a fair, competitive, transparent manner and to enhance the administrative efficiency of the Company to stimulate the application of sound methodology in the Company Management. This contributes to the development of the Company, increasing of the profitability, and reduce of risks that the Company is exposed to.

The Corporate Governance Role of Sword Company is as follows:

Rule 1: Construct a Balanced Composition.

The Board of Directors of Sword is composed in accordance with the Company activity volume and nature, in which the Company considered in the formation of the Board of Directors to combine variety of educational and professional experience and specialized skills, as well as their understanding and awareness of the Company’s activities.

Rule 2: Establish Appropriate Role and Responsibilities.

The Board of Directors seeks to achieve the objectives of Sword Company through a clear and proper separation of the terms of reference of the Board of Directors and the Executive Management, through effective control over the work of the Executive Management and monitoring the performance of Managers.

Rule 3: Recruit Highly Qualified candidates for Members of Board of Directors and the Executive Management.

The Board of Directors of Sword has formed a Committee (Nominations and Remuneration) specialized to prepare recommendations related to nominations for the positions of Directors and Executive Management.

Rule 4: Ensure the Integrity of Financial Reporting

Board of Directors of the Sword formed (Audit Committee) to ensure the independence and integrity of the External Auditor, and to enhance the Shareholders confidence in the data and information provided by the Company.

Rule 5: Apply fitted Systems for Risk Management and Internal Control

Risk Managers are independent by following the Risk Committee, to improve the quality and efficiency of the Company’s business and to assess compliance with regulatory controls. Also, the Board of Directors of Sword has also formed a Risk Committee to develop risk management policies and regulations in line with the Company’s risk appetite.

Rule 6: Promote Code of Conduct and Ethical Standards

Considering the importance of establishing a culture of Code of Conduct and Ethical values, the Company developed a business Charter including standards and determinants of Code of Conduct and Ethical standards.

Rule 7: Ensure Transparency and Disclosure in a Timely and High-Quality

Accurate disclosure is one of the key features of the methods of monitoring the Company’s activities and evaluating its performance and increase confidence and security for Investors.

Rule 8: Respect Shareholder’s Rights

Sword Company ensures the consistency of both the Shareholders and the Company Management and to enhance Investor confidence in the efficiency of the system to protect their basic rights specified in the Companies Law and its
Executive Bylaws, Articles of Association of the company, Capital Markets Authority Law and its Executive Regulations.

Rule 9: Recognize the Role of Stakeholders

Respecting and protecting the rights of Stakeholders according to the related applicable laws in the State of Kuwait, such as the Labor Law and the Companies Law and its Executive Bylaws in addition to the agreements concluded between Parties and any additional undertakings made by our Company towards Stakeholders.

Rule 10: Enhance and Improve Performance

Sword Company ensure to train and qualify the Board of Directors and Executive Management to enhance the Company performance through the Board of Directors and the Executive Management by exercising the tasks and responsibilities entrusted to them to the fullest.

Rule 11: Focus on the Importance of Social Responsibility.

Sword has contributed to the sustainable development of the community and the Company’s employees by working to improve the living conditions, social and economic workforce and their families as well as the society as a whole.

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SWORD

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