Corporate Governance Report

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Intended Outcome
The level and composition of remuneration of directors and senior management take into account the company’s desire to attract and retain the right talent in the board and senior management to drive the company’s long-term objectives.

Remuneration policies and decisions are made through a transparent and independent process.

Practice 6.2
The board has a Remuneration Committee to implement its policies and procedures on remuneration including reviewing and recommending matters relating to the remuneration of board and senior management.

The Committee has written Terms of Reference which deals with its authority and duties and these Terms are disclosed on the company’s website.

Application Applied
Explanation on application of the practice The Remuneration Committee comprises exclusively of Independent Non‐Executive Directors and is responsible to evaluate the remuneration packages of members of the board and senior management executives and recommends for the Board’s approval.

The Board is responsible to recommend Non‐Executive Directors’ fees to the shareholders with the Non-Executive Director concerned abstaining from deliberations and voting on decisions in respect of his/her fee.

Explanation for departure  
 
Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.
Measure  
Timeframe    

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