News

Solidere sal achieves a D+ score in Governance and Integrity Rating on online transparency and disclosure for 2017

 

Immediate ReleaseThe Lebanon Report 2017

 

Solidere S.A.L achieved a score of 33 percent, with a slight change since 2015. Of the ve corporate governance categories, Financial Transparency (81 percent) scored the highest. The company failed to disclose further data for the remaining categories.

 

In view of Solidere’s delisting of its Globally Depositary Receipts in June 2017 due to low trading volumes after being listed on the London Stock Exchange for 21 years, as well as their precedent delisting from the Kuwait stock exchange in 2007 for finding the submittal of its financial results in a timely manner quite challenging, the company still does not find the importance of complying with best in class corporate governance principles, which exposes stakeholders to unnecessary risk.

 

CG Categories 2017 2015
Audit 50% 50%
BMSP 12% 10%
Financial Transparency 81% 64%
Integrity 0% 0%
Shareholder Rights 40% 43%
Total score 33% 30%

 

 

For more information, please contact:

Farah Abou Salem

Analyst

fabousalem@sharholder-rights.com

+961 1 991911

 

 

 About Capital Concept sal

Since 2004, Capital Concept has been advising companies in the Middle East and North Africa region on corporate governance. Through its alliance with leading international organizations such as the Organization for Economic Cooperation and Development (OECD), the International Finance Corporation (IFC) and the Center for International Private Enterprise (CIPE), as well as through close relationships with regional central banks and capital market regulators, Capital Concept assists clients in implementing best in class corporate governance standards. In April 2013, Capital Concept became the first corporate governance advisory firm recognized by Lebanon’s central bank, Banque du Liban (BDL), to review the banking sector in Lebanon and the MENA region.

 

About Shareholder-Rights©

Shareholder-Rights© by Capital Concept sal (www.shareholder-rights.com), registered in the Ministry of Information of Lebanon under license number 1324/2015, is an online platform that defends shareholder rights worldwide.  Constantly rating and reviewing companies’ Environmental, Social, Governance and CyberSecurity (ESG-C)  commitment to investor rights by shedding light on corporate or regulatory adherence to best practices.

Shareholder-Rights© by Capital Concept sal is an independent provider of research, ratings and assessments on Environmental, Social, Governance and Cyber-Security (ESG-C) practices affecting the performance of public and private companies. Our researchers and analysts are precluded from engaging in any transactions involving any companies we follow. Our ratings and supporting research are intended to provide investors with a clear understanding of ESG-C practices that can and do impact shareholder democracy, investment decisions, and issuer risk. They are not, however, intended for stand-alone use and should not be considered as simple Buy, Sell or Hold recommendations. We encourage investment professionals to regard these ratings as a specialized, proprietary input to be used in combination with existing fundamental analysis or other approaches and to help comply with our standards and get certified/accredited.





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