Corporate Governance

The Board has established Audit and Remuneration Committees with formally delegated duties and responsibilities and shall ensure that these committees shall be provided with sufficient resources to undertake their duties.

Audit Committee

The audit committee comprises Mr. Ahmad Abdulla Al Jaziri Al Tamimi and Mohammad Firas Baba. It is responsible for providing formal and transparent arrangements for considering how to apply suitable financial reporting and internal control principles having regard to good corporate governance and maintaining an appropriate relationship with the Company's auditors. 

(Audit committee terms of reference Dana)

Remuneration Committee

The remuneration committee comprises Mr. Ahmad Abdulla Al Jaziri Al Tamimi and Mohammad Firas Baba.

The committee advises the Board on an overall remuneration policy and will meet at least twice a year. The Remuneration Committee also determines, on behalf of the Board, and with the benefit of advice from external consultants, the remuneration packages of the Executive Directors including, where appropriate, bonuses, incentives, pension rights and compensation payments, although this may depart in some respects from the provisions set out in the Corporate Governance Code relating to performance-related remuneration. 

The Remuneration Committee is also responsible for making recommendations for grants of options under the any future share option plans to be implemented by the Company. The Board determines the remuneration of each of the Non-Executive Directors. No Director may be involved in any discussion as to their own remuneration. 

(Remuneration committee terms of reference Dana)

Investment Committee

The Company, in view of its specific needs, may set up an Investment Committee. The Investment Committee will review and study new investment proposals, acquisition opportunities and the disposal of properties. They will present their view to the Board for approval. The Board has also resolved to have proper oversight, through the Investment Committee, in relation to related party matters and transactions. This will be auctioned by having a process in place which will seek:
(i) appropriate third party valuations;
(ii) all necessary due diligence to be undertaken;
(iii) management oversight generally; and that
(iv) where appropriate, in the context above, all transactions are entered into on an arm’s length basis.