A N N U A L R E P O R T 2 0 1 6
58
DIRECTORS¡¯
STATEMENT
Awards may be granted at any time in the course of a financial year, provided that in the event that an announcement on any matter of
any exceptional nature involving unpublished price sensitive information is imminent, Awards may only be vested and hence any Shares
comprised in such Awards may only be delivered on or after the second market day from the date on which the aforesaid announcement is
made.
The committee administrating the Scheme (
¡°Committee¡±
) comprises all members of the board of Directors. Since the commencement of
the Scheme till the end of the financial year, no share awards have been granted.
6.
Audit committee
The audit committee (the
¡°AC¡±
) carried out its functions in accordance with section 201B(5) of the Act.
The AC, having reviewed all non-audit services provided by the external auditors to the Group, is satisfied that the nature and extent of such
services would not affect the independence of the external auditors. The AC has also conducted a review of interested person transactions.
The AC convened four meetings during the financial year with full attendance from all members, except for two where a member was absent.
The AC has also met with the internal and external auditors, without the presence of the Company¡¯s management, at least once in FY2016.
Further details regarding the AC are disclosed in the Report on Corporate Governance.
