Page 102 - Inegrated Annual Report 2020-Eng

2.3. Disclosure Practices

The Company is committed to comply with all of its disclosure obligations, including to the SCA,
the Abu Dhabi Stock Exchange (hereafter referred as “ADX”) and to shareholders, so that trading in
its shares can take place in an informed market. In 2020, the Company made regular disclosures
to SCA and ADX including upcoming Board meetings and decisions, publication of Annual Report,
Corporate Governance Report and other announcements on key financial and/or operational matters/
transactions, copies of which are generally available or updated on the Company’s website.

2.4. Delegation of Authority

The Board bears ultimate responsibility for the operations of the Company, and within the provisions of
the Articles of Association, UAE Companies Law and approved Corporate Policies and Procedures, the
Board has the authority to delegate its powers to the committees and senior management.

The Board has approved revised Delegation of Authority in 2020. The revised Delegation of Authority
outlines authority limits delegated by the Board to the executive committees, management and
employees in order to run the Company’s affairs and operations within the United Arab Emirates and
overseas locations.

The Board has also delegated certain authority to its committees, being the Audit Committee, the
Nomination and Remuneration Committee, the Strategy Committee and the Technical Committee, as
defined within their Charters, and updates to which were approved in 2019.

2.5. Code of Business Conduct and Fraud Control Policy

The Company recognizes the importance of establishing and maintaining a set of core values and
approaches to the process of doing business. The Company demands, and will maintain, the highest
ethical standards in its business activities through a detailed Code of Business Conduct and Fraud
Control Policies, which address the following areas:

• Compliance with Laws, Rules and Regulations;

• Personal Conduct;

• Standard of Conduct;
• Confidentiality and Intellectual Property Rights;

• Integrity and Conflicts of Interest;

• Competition and Fair Dealing;

102 2020 Integrated Annual Report