Sound corporate governance is key to RAK Petroleum plc.
RAK Petroleum plc is incorporated in the United Kingdom and is subject to the laws of England and Wales, including certain Disclosure and Transparency Rules for financial reporting, continuing obligations and corporate governance.
The Company seeks to comply with the applicable legal framework for companies listed on the Oslo Børs, and endorses the Code of Practice for Corporate Governance issued by the Norwegian Corporate Governance Board. The Code is available at www.nues.no/en.
The Board of Directors of the Company adopted a Corporate Governance Policy on 24 September 2014 , a copy of which is available here.
The Company’s 2018 Annual Report and Accounts includes a report on its Corporate Governance policies and practices.
The Board of Directors has established an Audit Committee and has adopted detailed Terms of Reference for the Audit Committee which are available here.
The members of the Audit Committee are Messrs. Ahmed Jawa (Chairman), Amir Handjani and Bjørn Dale.
At the 2015 Annual General Meeting, the Shareholders established a Nomination Committee of no more than three members to be appointed by the annual general meeting for a period up to two years, whose duties are to propose candidates for election to the Board of Directors and to the Nomination Committee and to propose the fees to be paid to such members.
The current members of the Nomination Committee are Mr. Bijan Mossavar-Rahmani, Dr. Oystein Noreng and Mr. Arya H. Bolurfrushan, each of whom has a term expiring at the 2020 Annual General Meeting.
Biographies of the Nomination Committee members may be found at this link: Biographies of the Members of the Nomination Committee.
Any shareholder wishing to speak with the Nomination Committee about potential nominees may contact them by directing an email to: firstname.lastname@example.org.
The Board of Directors has established a Remuneration Committee whose members are Messrs. Bijan Mossavar-Rahmani and Sultan Al Ghurair.