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The Company Board has established the Company Audit Committee and the Remuneration and Nomination Committee.
The Company has established the Company Audit Committee in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The primary duties of the Company Audit Committee are to oversee the financial reporting system and internal control procedures of the Company, review the financial information of the Company and consider issues relating to the external auditors and their appointment.
The Trust Deed requires that the memberships of the Company Audit Committee and the Trustee-Manager Audit Committee must be the same.
The Company Audit Committee consists of three Company Directors. The members of the Company Audit Committee are:
The Company has established a remuneration and nomination committee of the Company Board in compliance with Rule 3.25 of the Listing Rules and the Corporate Governance Code as set out in Appendix 14 to the Listing Rules. The primary duties of the remuneration and nomination committee are (i) to make recommendations to the Company Board on the Company’s policy and structure for all remuneration of directors and senior management and on the establishment of a formal and transparent procedure for developing policy on such remuneration and (ii) to review the structure, size and composition of the Company Board, assess the independence of the independent non-executive directors and make recommendations to the Company Board on the appointment and re-appointment of directors and succession planning for directors.
The remuneration and nomination committee consists of three Company Directors. The members of the remuneration and nomination committee are:
Pursuant to Article 16.5 of the amended and restated articles of association of the Company, no person shall, unless recommended by the Board, be eligible for election to the office of Director at any general meeting unless during the period, which shall be at least seven days, commencing no earlier than the day after the despatch of the notice of the meeting appointed for such election and ending no later than seven days prior to the date of such meeting, there has been given to the Secretary notice in writing by a member of the Company (not being the person to be proposed), entitled to attend and vote at the meeting for which such notice is given, of his intention to propose such person for election and also notice in writing signed by the person to be proposed of his willingness to be elected.
