Governance

Wassel Group views corporate governance as a fundamental principle and an integral pillar that regulates the rhythm of administrative and behavioral practices within the Group, while also organizing its relationships with the external environment. The Group conducts its operations in accordance with the principles of sound governance, recognizing their pivotal role in directing operations toward the right course, ensuring the optimal utilization of resources, and clearly defining the distribution of duties and responsibilities among the Board of Directors and its affiliated committees on the one hand, and between the Board of Directors and the executive management on the other.

Role and Responsibilities of the Board of Directors

The Board of Directors is responsible for overseeing the company’s activities, operations, strategy, and future plans, as well as approving budgets, financial policies, and adopting financial statements. The Board plays a key role in protecting the rights of shareholders and maximizing value while ensuring compliance with the rules and regulations applicable in Palestine.

Committees of the Board of Directors

The Board of Directors fulfills its responsibilities through several committees, both permanent and temporary, which are tasked with specific duties and timelines.

Governance Committee

Ensures the company’s compliance with legal frameworks, the Palestinian governance code, and regulations from relevant authorities. It also oversees the internal systems of the Board and ensures adherence to governance and transparency standards.

Audit Committee

Meets four times a year to review and approve financial statements before their announcement and ensures compliance with international accounting standards.

Planning, Development, Budgeting, and Compensation Committee

Collaborates with the executive management to prepare work plans and budgets in line with the strategic vision of the Board, focusing on the development and growth of all the group companies.

Communication with Shareholders

Wassel Group is committed to effective and transparent communication with its shareholders, ensuring they are kept informed of all relevant developments. The group employs various channels to engage with shareholders, including phone calls, social media, email, the company’s official website, and annual reports. Wassel holds annual general meetings to discuss the company’s performance, future plans, and to address shareholder inquiries. Invitations and reports are sent via email and through announcements in local newspapers.

Shareholders

Wassel Group has a shareholder base of more than 13,000, comprising various companies, individuals, and institutions. The group maintains transparent and effective communication with its shareholders through various channels, including phone, email, social media, and annual general meetings. Shareholders are kept informed about the company's performance, future plans, and any developments of interest to them.

Subscribed and Paid Capital

$13,000,000

Trading Currency

USD ($)

Trading Symbol

WASSEL

Sector

Services

Nominal Value per Share

USD ($)