Remuneration policy and governance
The Company’s remuneration framework is governed by a formal Remuneration Policy developed by the Nomination and Remuneration Committee and approved by the Board and General Assembly. The policy applies to Directors and Board committee members and is designed to align remuneration with performance and the Company’s strategic objectives.
The Committee oversees the implementation of the policy, reviews it periodically, and assesses its effectiveness in achieving its objectives. It also ensures transparency by clarifying the relationship between remuneration awarded and the approved policy, including the disclosure of any material deviations.
Remuneration decisions are supported by structured governance processes, including recommendations to the Board, review of compensation and incentive frameworks, and the preparation of an annual remuneration report detailing payments to Directors and Executive Management.
Remuneration of the Board of Directors
Board members received fixed annual remuneration during FY26 in accordance with their roles and responsibilities. Board remuneration is determined in accordance with the remuneration arrangements approved for the applicable Board term. Remuneration is prorated where a director is appointed during the term. No attendance allowances, committee meeting allowances, in-kind benefits, remuneration for technical, managerial, or consultative work, profit-based remuneration, incentive payments, share-based awards, end-of-service rewards or other variable remuneration were provided during the year. Certain directors were reimbursed for expenses incurred in connection with Board meetings, as disclosed in the table below.
| Members of the Board of Directors |
Fixed annual remuneration (X) |
Expense reimbursements related to Board meetings (X) |
| Independent Directors | ||
| Eman Fawaz Hamza Al-Sayrafi | 200,000 | – |
| Raad Abdulaziz Mohammed Al-Abdulkadr | 200,000 | – |
| Sami Abdulkarim Mohammed Hashem Al-Zohaibi | 200,000 | 6,547 |
| Fahd Saleh Ali Al-Hathloul | 200,000 | – |
| Subtotal | 800,000 | 6,547 |
| Non-executive Directors | ||
| Sinan Esmat Abdul-Samad Al Saady | 270,000 | 4,000 |
| Marcel Albert Grünenfelder | 235,000 | 174,525 |
| Albert Peter Grünenfelder | 200,000 | 34,567 |
| Subtotal | 705,000 | 213,092 |
| Total | 1,505,000 | 219,639 |
Remuneration of committee members
Committee members received fixed remuneration in accordance with their respective committee responsibilities. Committee remuneration is determined in accordance with the remuneration arrangements approved for the applicable committee term. Remuneration is prorated where a member is appointed during the term. No meeting attendance allowances, performance-based remuneration, or other variable remuneration were paid during the year.
Audit Committee
| Name | Committee role (status) | Fixed remuneration (X) |
| Fahd Saleh Ali Al-Hathloul | Chairman (Independent Director) | 30,000 |
| Mohammed Noman Mohammed Habis | Member (Non-Board Member) | 100,000 |
| Albert Peter Grünenfelder | Member (Non-Executive Director) | 25,000 |
| Total | 155,000 |
Nomination and Remuneration Committee
| Name | Committee role (status) | Fixed remuneration (X) |
| Eman Fawaz Hamza Al-Sayrafi | Chair (Independent Director) | 30,000 |
| Sinan Esmat Abdul – Samad Al Saady | Member (Non-Executive Director) | 25,000 |
| Marcel Albert Grünenfelder | Member (Non-Executive Director) | 25,000 |
| Total | 80,000 |
Remuneration of Senior Executives
The remuneration of the five Senior Executives who received the highest remuneration during FY26, including the Chief Executive Officer and Chief Financial Officer, is disclosed on an aggregate basis in accordance with Article 90(4)(B) of the Corporate Governance Regulations.
| Remuneration component | Amount (X) |
| Salaries and allowances | 6,248,324 |
| Bonus payments* | 3,963,264 |
| Subtotal | 10,211,588 |
| End of service benefits | 404,915 |
| Grand total | 10,616,503 |
*Bonus payments relate to FY2025 business performance and were paid during FY2026.