Sindbad Submarines

Commitment

GENERAL GOVERNANCE STRUCTURE

Credence set of internal corporate documents follows legal and regulatory requirements, and incorporates internationally recognized corporate governance practices. The above- mentioned corporate documents are published on Credence website.
Credence has the following governing and other bodies:

THE GENERAL ASSEMBLY
The highest governing body of Credence allows the shareholders to participate in the governance of Credence;

THE BOARD
Responsible for the strategic direction of Credence, and the guidance and oversight of management. Credence board will also establish committees on audit, corporate governance, and nominations and remuneration.

THE EXECUTIVE CHAIRMAN & EXECUTIVES
Assigned the task of the day-to-day management of Credence, and carrying out the strategy as approved by the board.

THE BOARD SECRETARY
Ensures that the governing bodies follow internal rules and external regulations in order to facilitate clear communications between the governing bodies, and acts as an adviser to directors and senior executives.

THE INTERNAL AUDITOR
Develops and monitors internal control procedures for the business operations of Credence. The internal auditor reports directly to the audit
committee and reports administratively to the Executive Chairman.

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