Corporate Governance
Governance Framework
Avalon Pharma is committed to applying the highest standards and best professional practices in governance, adopting and promoting a culture of adherence to the highest levels of integrity and honesty in all its professional practices. The company also integrates concepts of disclosure and transparency across all its activities and operations within its main work channels. Avalon Pharma affirms its compliance with all regulations, rules, and instructions issued by the official authorities relevant to its operations, which preserves its reputation and credibility and enhances the trust of shareholders and partners in its successful approach according to standards of efficiency, quality, and excellence. This report has been prepared and published in accordance with the Corporate Governance Regulations issued by the Capital Market Authority (CMA).
Avalon Pharma seeks to implement the principle of governance within a comprehensive professional framework, following best practices adopted by listed companies and based on a general framework for comprehensive governance as follows:
- Protecting the rights of the company’s shareholders in a manner that ensures the best Interest of both them and the company.
- Protecting the rights of stakeholders and providing job stability and sustainability through the company’s strong financial performance.
- Providing accurate, comprehensive, and up-to-date disclosures to the company’s shareholders, related parties, and relevant regulatory authorities.
- Handling, in accordance with approved policies, any cases of conflict of interest that may arise between the company and its stakeholders, which could negatively affect the interests of the company and its shareholders.
- Empowering employees to report any concerns or observed misconduct within the company by providing a reporting mechanism that ensures objectivity, confidentiality, and independence, so that appropriate corrective action can be taken.
- Regulating transactions with related parties, including those conducted between the Company and its employees, members of its Board of Directors and committees, the executive management, its subsidiaries, or any person or entity deemed a related party in accordance with the approved definition.
- Aligning the company’s values and strategy with social and economic needs by ensuring the application of responsible and ethical practices in all company activities while continuing to provide the necessary support to the community.
- Establishing reliable communication channels with investors to enhance the company’s market position and attract shareholders and investments.
Governance Implementation Pillars
Accountability
Members of the Board of Directors are accountable to the shareholders for any negligence or breach of their duties.
Transparency
The Board of Directors explains the reasons behind key decisions to the shareholders.
Responsibility
Each member of the Board of Directors bears the responsibility of performing their duties with the highest levels of professionalism and competence
Fairness
All shareholders are treated equally by the members of the Board of Directors and senior management
What Has Been Implemented and What Has Not Been Implemented from the Corporate Governance Regulations:
The company applies all provisions of the Corporate Governance Regulations issued by the Capital Market Authority, except for the provisions specified below:
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