Rule 7: Brief On The Disclosure And Transparency Mechanisms

8. Brief On The Disclosure And Transparency Mechanisms

The Group fully realizes the importance of disclosure and transparency, as it is one of the key methods of monitoring the Group’s activities and evaluating its performance. The Group has insisted on holding the transparency forum for several years, as well as developing disclosure and transparency mechanisms related to that matter, in addition to updating the disclosure records of the members of the Board and Executive Management.

8.1 Brief On Applying Accurate And Transparent Presentation And Disclosure Mechanisms, Which Sets Out Aspects, Areas And Characteristics Of Disclosure

GIG has an approved guideline for disclosure and transparency procedures, which includes but is not limited to the following:

• Methods of disclosure of financial and non‑financial information that is related to the Group’s financial position, performance, and ownership.
• Methods of transparently disclosing all information and data on a timely basis to all stakeholders without discrimination, provided that the data and information are accurate, correct, and not misleading.
• Classifying the disclosed information according to its nature (financial, non‑financial) or time of disclosure, in addition to the material information.

In addition to the above, the disclosure and transparency policies and procedures have been prepared in accordance with the best practices and are compliant with regulatory requirements. The Group reviews the disclosure and transparency policy regularly and updates it, if necessary.

8.2 Brief On Applying The Disclosure Register Requirements Of The Board Of Directors And The Executive Management Members

The Group has a specific register for the disclosure of the Board and Executive Management members, including all transactions, and acknowledgements that reflect the actual related parties’ transactions. This register is available to shareholders without returns or fees, and the Group updates this register periodically.

8.3 Brief On Applying The Investor Affairs Department Formation Requirements

The Group has a corporate communication and investor relations department, responsible for providing timely information and data to existing and potential investors. The department is considered reasonably independent (according to the Group’s organization structure, as approved by the BOD) in a manner that allows it to provide hassle‑free, fair, and transparent data, information, and reports in an accurate and timely manner. Since 2012, the department has ensured continuous and consistent dissemination of information through established methods of disclosure channels; for example, but not limited to, the Group’s corporate website, investor relations tools, Annual General Meetings (AGM), annual reports, financial statements, corporate profile, press releases, social media, corporate campaigns and announcements, and others.

8.4 Brief On How To Improve The It Infrastructure And The Extent To Which It Shall Significantly Relay In The Disclosure Process

The Group continuously strives to create effective communication channels in order to stay connected with shareholders and its other stakeholders. Therefore, in 2023, the Group reviewed the website to ensure its alignment with best practices and launched a completely revamped website, aligned with the newly evolved GIG brand. All sections, including the investor relations tools on the website are further enhanced with the latest technological advancements, which are displayed in a manner that assists shareholders, as well as current and potential investors to practice their rights and evaluate the Group’s performance. In addition, as part of our transparent disclosure process, GIG ensures to simultaneously upload all its disclosures on the web, placed under Investor Relations. The Group strives to take every step to further enhance the digital experience of our stakeholders by improving and applying all possible IT infrastructures.