SCOA Nigeria : S C O A NIGERIA PLC-NCCG REPORT

FINANCIAL REPORTING COUNCIL OF NIGERIA (Federol Minislry of tndusfry,Trode & Investmenf)

FRC/CGIOO'''T;I1'::?t1ffi-TlrI::;|li,'II.I::lH,IYTHENIGERIAN

Seciion A: lntroduclion corporole Governonce is o key driver of corporote qccountobility ond business prosperity' The Nigerion code of corporoie Governonce. 2Ol8 (NCCG 2018) seeks to instiiuiionolize corporote governonce best proctices in Nigerion componies' ll is olso oimed of increosing entilies' levels of tronsporency, trust ond inte-grity. ond creole on environment for sustoinoble business oPerolions.

The Code odopts o principle-bosed opprooch in specifying minimum slondords of proctice lhot componies should odopt. where so required, componies ore required to qdopt lhe ,,Apply ond Exploin" olpio"e7, in reporting on complionce with the Code. The 'Apply ond Exploin, opprooch ossumes opplicotion of oll principles ond requires entities to exploin how the principles ore opplied. This requires componies to demonstroie how ihe specific octivilies they hove undertoken best ochieve the outcomes intended by the corporote governonce principles sPecified in the Code.

This will help io prevenl o 'box ticking' exercise os componies deliberotely consider how they hove (or hove noi) ochieved the intended outcomes. Although. the code recommends proclices to enqble componies opply the principles, it recognises thot these proctices con be toilored io meet industry or compony needs. The code is thus scoloble to suii ihe lype' size ond growth phose oJ eoch compony while still ochieving the outcomes envisoged by the principles.

This form seeks to ossess the compony's level of complionce with the principles in the NCCG 201g. Entities should exploin how these principles hove been opplied, specify oreos of deviotion from the principles ond give reosons for these deviotions ond ony olternotive proctice(s) odoPted.

pleose reqd lhe inslruclions below corelully before compleling ihis form:

Every line item ond indicotor must be completed'

Respond to eoch question with "Yes" where you hove opplied where you ore yet io opply the principle'

the principle' ond "No"

lll.

An explonotion on how you ore opplying the principle, or otherwise should be included os port of your response.

Not Applicoble (N/A) is noi o volid response'

Seclion B - Generol lnformoiion

l

ComponY Nqme oole=ot lncorPorotion

]GE. tsbs

Llcense Number

C5rnPonY PhYsicol Address CoEEo-nv we bsite Add ress

F'rnonciol Yeor End b the a"mpon6 pttrtt

t ct"pF"li'g Compony?

Yes/No

lf yes, pleose stote the nome

of the Group/Holding

Nome "n0 eO-Ores "t Compony Secretory

N o nle n o no o resioir*t t'n o I A u di l or ( s )

o

Nomfiia Address of Registror(s)

lilestd Rekri-'fc"s Contqct Person (E-moilond Phone No')

Nome of the Governonce Evuluurrt,o,rnI Nome of the Boord t'

fl n*rmlqc-'(l @

Cvvo'nsultont

I

Seciion C - Delqils oI Boord of lhe Compony ond Atlendqnce ol Meetings

1. Boord Deloils:

s/No. -uotionconsultoni

, lt -*

Hom.t of Soord Members

z',{-o}i ft{ l^ )4.f4-P g-t--^^1 h((. I Qtj€L-.rrn

l\n,

L

_!

tfy(.N

i{--/

T E7€T N,rr'lj.vyki

6"

tLM-}(l l61rq1 Llrwnrt ,-@4+<>

Ntffirrt;i $rjltli

Designotion (Choirmon, MD. INED, NED'

ED)

<+ftrrcn-

I^A f C4-

ffiffi

h;S-fcdH €c hst&E-<,7+

i)-1-t '-Qir-r

Gender

M,rL< fl,t-€ ylt ,rfi*r,rr -F4-17 !v'a,E

First

Appointed/ Elected

-oote

tSsu

---Tqa1

I sss-

_

'rStG

rnRlr.g 1'.(&1.8 r'o(Y.e $1N'1,O

aao9 2.N3

;L4 ir' I L

REPoRToNcoMPLIANcEWITHTHENIGERIANcoDEoFcoRPoRATEGoVERNANCE20IS

Remork

Altendonce ot Boord ond Commiltee Meetings:

S/No.

T"rnes of goord Members

C)

t{f*.|1t*ltux 5rr- n,p-

{ h5'u

3

hf-.A-Al+rt t-'ft, + Aci,ta) G&"ai t***n

Pl r ri,t* f-, N t..i1)Qr,--Y-^r

( 1 (

[a* s ffr(. tf)-

No. of Boord Meelings Held in the Reporting Yeor --s- Yeor

s

_g -

No. of Boord Meetings Attended in lhe Reporting

Js

*s s

MembershiP of Boord Commiitees

r

67FD 1tu [:iti,ii( 4.[

_r

're3

Il<> Va'i r Llt'

-5_

s

S

---=

-r

14 ']Fr 0-{ a -il.61

j'z

/

SeclionD-DeloilsofseniorMonogemenlotlheCompony

1. Senior Monogemenl:

Designoiion (Member or Choirmon)

tfumU"t ot Commitlee Meelings Held in the Reporting Yeor

,blt n rq

L

{'lL.li)gt"" bflgxN- u.tpe-yr+.

:tvL.v -

w@

> + > A

----'

REPoRToNcoMPLIANcEWITHTHENIGERIANcoDEoFcoRPoRATEGoVERNANCE2018

Number of Commitlee Meetings Altended in lhe RePorling Yeor

L )-

a-

+

L-

,>--

'1

Seclion E - Applicqtion

Pori A - Boord ol Directors

otthe Booro

Eii;i;r"-r'*ae

ot the Boord ffipp.oveoC^ore'

"A successfu/ ComPonY is heoded bY on effecfive

Boord which is resPonsib/e for oroviding enlrePreneuric:l ond slrolegic leodershiP os we/l os Promoting ethiccsl cullore ond resPonsible corporole ciiizenshiP As o ljnk beiween slo-kiceehorslders ond lhe ComPonY, ihe

Boord is io exercise oversighf aetd conlrol lo ensure lhol moncgemenl ocls in the besi rnieresl of ihe shoreholders ond olher sfokeho/ders whiie susloining the ProsPeritY of ihe ComPonY ffi"ipl" ,, Boord Struciure ond ComPosilion

"Ihe effeciive dischorge of lhe resPonsibi/ifies of lhe Booro ono ;fs comnriilees is ossured bY on oPProPriote bolonce of skil/s ond dtversilY iincluding exPerience ond qenderJ wilhout compromising comPefence' independence ond inlegrilY "

Prirrc6le 3: Choirmon

"The Choirmon is resPonsible f or Providing averoll

' L"ni.n t.,iou'its -esoot sib'l'r'es ond ierrns of t0S u d itl'"e€=s reference? Yes/No liyes, when wos lt losi reviewed?

.) Whot ore ihe quol'ticol'o^5 ono e/uerrqr rLs)

of the direc'iors?

Oo.t tn" ."*pony hove o Boord-opproved

OWL"itV PolicY? Yes/No '3

';#;*;;;%.r,.ea

I V.t, to *i-,rol uxteni hove ihe diversity

fffi- tnere directors noro;ng co'cu'ren'

' rf yes. stole non'es of lhe d;rec'iors componles? ,/

o,L.,o,inips? Yes/No t I alvl rs 1ne MD/CEO o' on t"ecu'ive Direc'o' o cnoir ol 6nv Boord Comri'ilce? Yes/No

NJ

rl ie- p'o:de lng nbale: or rLe Comm Ileec'

;l ts lne Cnoi'mon o me'.rber or cllo I u' u 'v u tn-o Booro Corn'nittees? Yes/no

lf yes, lisi them' /eodershiP of the ComPonY @ee.;r,jisi

&Gt;org1eis

snci the

NIOo.d tnc Boord, ond eticil;ng ine consrl uc live oorficipol;on of oll Direciors lo fociliiofe effeciive direction of the

Boord"

...,rs'1e ' Cno;r'no. ;n o'te1do^ce 6ur;ng 'n6 pe'ri6i

under revlew ,

,fO^}

,fi'LsJev-Cho- rno" o" 'El c :''E;'

@orEJoi

N",

^'Jt

+ne CotPo^Y? Yes/No I L-> ir f.r, *nen dlo l,it/n"r- tenure os MD end?

@ntedoschoirmon?

ffi-:ici'i'ie;;';'e

Cno,..r,o. 6t€,6r17

6'r-.'--bffip pll" tti " n or d evi oii o n

"*ffit^'P's*t

oet,ned? Yes/No J u7 lf yes, sPecifY whlch document

REPoRToNcoMPLIANCEWiTHTHENIGERIANcoDEoFcoRPoRATEGoVERNANCE20IS

Reporting QuestionsPrinciples

Principle 4: Monoging Direclor/ Chiet Executive

Olficer " the Mctnogi'g

j Ooes the MD/CEO hove o controcl or employment which seis out his ou'thority ond relotionship wiih the Boord? Yes/No lf no, in which documents is it specified?

DireclorlChief Execulive @nyconflictof

afficer is /he heod of monogernenf delegoled bY lhe Boord lo run lhe offoirs of +ne Co,'noonY +o ocnreve rfs

l'roieg,c

for

I srr,to,"ool ooiec6ri9v'peosrole I pedortnonce

t..

Rrin.ipt. Direclors

inieres'f on oPPoinlment, onnuollY' thereofier ond os ihey occur? Yes/No

O Wh'tch of the Boord Commiilee meetings

did the MD/CEO oiiend during ihe period undereview?frU_.TrfE nq-rll d !4

N) fs the MDrcEO serving os NED in ony other comPonY? Yes/no.

lf yes, pleose stote ihe 6omponV(ies)?Ntl v) ls the membership of the MD/CEO in these policies? Yes/No Y€:t

componies in line with ihe Boord-opproved

.-"t€, ;16,6'efi, e Directors suppod I ,-'i I y.s!o th. conirocls of employment set

5:

Executive i) DYoethse/EnDos hove conirocls ot employmenl

I

I

ihe Monog ng Direcior/Chief I

f.ecr;lr g Qtti6sr in /ne opero i,ons ond olonogemeni of lhe Compc:nY

Principle 6: Non-Execulive

I

Direclors

Non f)eCUrie Direciors bring

O - Do the EDs declore ony conflict of interest on oppoin'imeni, onnuolly, thereofter ond os theY occur? Yes/No tU fr) Are ihe,e EDs serving os NEDs in ony other comPcnY? Yes/No lf yes, pleose list

I

I

u1 ,ere ihelr memberships in ihese componles in line wilh Boord-qgqpyed policv? Yes/No i) Are the roles ond responsibilities ol the NbD: cleorly defined ond documenied? Yes/No lf yes, where ore these documented?

to beor ii ek knowtedge ii)

ezpertise ono ;ndependen+ irOgrrruni on issues of slrotegY ond perf ormcsnce on ihe Boord

Principle 7: lndePendenl Non- Execulive Directofs

oi"utrtlhxe .roles ond responsibiliiies tiZ-;

of the EDs?

lf no, in which document ore ihe roles ond responsibi!ities sPecified?

I

oc, tfe rffOs hove letters of oppointment

I I

specifying their duiies, llobillties ond lerms e.goger.e-t? Yes/No -1fa

of

I

liil Oo lne NfDs declore ony conflici of in'terest on oppoinlment, onnuo ly, thereofier ond os theY occur? Yes/No N$ .r) -Are NEDwro"ded with lnformotion reloling ro tne ronogemenl ol The comoon/ ond on orr Boord "no'ters? Yes/No l(l ,i yes, when ;s lne in'orrnolro^ o'or:ded 1o the NEDs

v) Whot ls the Process oI ensurlrlg comPleteness ond odequocY of the informotion Provided?

@occesstotheEDs,

ComponrT Secrelory ond the lnternol Audiror? yes/No '-t€=

N"o

'd D. the ilEDs meet the independence criterio prescribed under Section 7 '2 of tle

Code? yes/No jL,

f*ptonotion on opplicotion or deviolion

lEa

ffia.gQuestions ,NE

PrinciPles

I

ffi-51on.f (ecurie

Dircc,( Is 6ring o n;gh deqre e of obiectivitY lo lne buuru irr,o.inq siokeholde' rt"rst ond confrdence

Pr-l"c-iple- 8:

'r 1

the' rNEDs hove reTTers or uPpv''rr '" t-DOIJe.:tr'nq InelrOulies'Iob'li'ie"oro'etrsof

-, '

-_--ffi.

vrr ".i!p.no."<:u of lne INEDs? Yes/No iii.I r'o* oi'."? 1ea

Whot is the Process?

Jrr r< +he |NED o Shorenol

i.trN.

FiA ri=" vJr. *hol '" t"e oercenioge shoreholdlng?

viil)

ix) Whot ore lr remunerotlon?

ComPonY

SecrerorY

"The ComPonY SecreictrysupPori the effecitveness

)

of

in. eo" o DY ossisr;ng il'," L

..gog.n'ent? Yes/No lE= na tne INEDS declo.e orry eur, ,,-' " , ,,, " --, ;; opooiniment' onnuol'v- 1ne'eorter ono os they occur? Yes/No N';3

the Boord osce

lanshi fi;'*;; c;;onY oPort rrom direcrorshiP ond/or shoreholding? Yes/No Ue lf yes, Provide delorls

Does 'ihe INLD nove utLu

tl rs Ihe Co'nponY JeL'erur Y ou,rou'cedE trU .Ih-!Y€

Haeae* ) Whot is the quolr

ihe ComPonY SecrelorY< }r(-l},iA

llil Where

4

Boord ond monagemenl to1 ' ' .-iov""

ff(/c{r,{

?ft1}f-ruffJ

2

ffi

"'

I

uompa|thoer ihe Compon' 't ll" person o

deve/oP good car?arc rie

I

oovernonce Prociices ondl cullure wilhin ihe ComPon

ffi-61pr"- s, Access lo lndePendent Advice "Direclors ore someiimes requirea io moke decisions of

• o lechnicoi ond comPlex nof ure thol moY reqL/'Ie

I indepenoent e^fe'nol lerperiise''

-nen ber oi sen,or ..""n.L.lr,,4 ^, ^ff :.,.#.r.'" "i;]L[":rilc+Iiir,,, r ) %whreo'.nisolohe' opootr

Eri""'P'|" 10, Meetings of the

vi) Wno underioKe5 .urru UPP urv- the -lrl? tnbrl(ts-c

'pe"forn'otce opproisor of rhe Comoon/

SecretorY?

il Does ihe comPonv nor

oolic r tho' olro

I"l"',l"nO."t proressionol

o;ict^orge of rhe'r duties? Yes/No a64 rt yei, *neie is ii documenied?

in who beors ihe cost t

' ;,.;" ;;;; toivice? -iir+ c-'n1iFr"-t #.riarhe

iii) During the Pertoo utr

Directors obtoin onY

lf yes, Provide detoils'

Boord

iI

,'MeeJ;ngs s16 fhe PrinciOor I ver,ic/e [or conducring lhe business of ihe Boord ond

iuccessfuiiY

process of ihe ComPonY

a?=,r,

^

ry5 o;'ecro'5 occe5s 1o

od'ice i' t^e

'

indePenden'i

i Whcrt is tne Proces5 ' opJiorlng min- Ies or Boord 'nee1'ngs?

Lrofessionol odvice? Yes/No f{ i' ,,iarrrina CnCl

lit wn"t ore the iimellnes lor senorrrg ;,;l to Dlrectors?

ulfilling ihe

"'

Whol ore the mpl'collor r) ru'urrvvrv'?

f

Jo Iot-,reei tne Comoonv policv on otiendonce?

Erpl"""rG" dpli"Al"n or deviotion

E-a> "B 5-1, ^t'4''

w tnr": r-zr,zt r'-'

i#t, rE

,^f

f/f!'""XJE * r, rtvcTft c&L

L H+r,4*a-a , ';

't!'(..D =t "Nv-Z.L;;;+-

= ,= rq ildrcffi

who

- Uu,(L

meeting

)s fttil tr{ca

B€rr,r-r'fts-t''Y'

REPoRToNcoMPLIANCEWITHTHENIGERIANcoDEoFcoRPoRATEGoVERNANCE20IS

"

,bN4^ - rg1

6

ffiI.""ti"";" "pplicolion or deviotionPrlnciple I l:

Boord

Commiltees

"Io ensure eff)ciencY csnd effecfiveness. fhe Boord de/egoies some of its funcirons, dulies ond responsrbi/rfres 10 we/l- slruciured commlilees, 'wilhoul obdicoling ris

responsrbililies

',) D. th. B""rd Committees hove Boorcl- opproved Chorters which sei out their responsibilities ond terms of reference?

Yes/No HU 'll Whot 6 tne process for rev'ewir^g o'd |tu'./crJ6=.ffi

opprorinq rrinu*es of Booro Corrrit'ee o'

Nkr ft " ,.O ffeC.+te'tvE€Tlc'lt"S-

gltr;i^,Ca-'J'U-

U+ldF'o+-overJr

O m;i ote the trLef tres for sending the minules mlNUTe=*'.*aE' ('nLlEee#z' N t$ kt*te '-'-rrr-

"

to the direc'iors?

@ordcommittees?

@reresPonsiblefor lhe following mot'iers?

o) Nominol;on ond Cover.once-",11 bi Remu"e,otion - (vter'c"""*-t

c) Audit

- (tu'Drt-l ''"

O) nisr Monogement .- 0-ucf

@ointinglhechoirof

eoch commiliee ?

t-

.^;;^ T:5Fuffils#"$trtr+

ffiinolion

"r) Wllot s the proportion of INEDs to NEDs on the

Commiltee responsible for Nominotion ond

;,,) b ih. ch.-rno" of the Committee o NED or

lX<>

rewF.

J.r,(rEegt& '

ond Governonce

wok Ji

'") Does ihe Compony hove o succession plon @fivr,;lcpolicy? Yes/No lf yes, how often is it reviewed?

Vei

1 Uo* otten ore Boord ond Committee Trt€fqr,6 f=Yt^chorters os well os other governonce policies

( FrL-'1

Jalr*'

-,) H*" d.et the commlttee reporl on its e5-ffiH';#E-t* rrl*.irure*

octivities io the Boord?

Committee responsible f or Remunerotion

;,) Whot 6 the proportion of INEDs to NEDs on the Commitlee resPonsible for

^irf )llG chotr"lon of the Commitlee o NED or

Committee resPonsible for Audil

,'r) D.e, th. Compony hove o Boord Audii

Committee seporcrie from the Stotuiory

Audil Commitiee? Yes/No NC xrrl xe ,remOers of ihe Committee responsible for Audli finonciolly literote? Yes/No -l fi *i-Wh.t ore th"k quolificolions ond

xuiilt tonre tf,e finonciot experi(s) on the

Cornmitiee resPonsible for Audil

tb vl1-vllryv*'"or{^' '

i,tutolmrttnxn- 1cry*

ffi".tlrff;Pplicolion or deviotion

ffiTi66esrne

commiltee respo toi I'uOit review the internol oudiior's

l!

ffi,e.r

opp'oved ,nternol cort"o' ploce? Yes/No

r;l ;o*-oesl;e

locro f rortewolk ''

B"o'o 'ronilor como'ionce

with +rg 1.1+grng'co.lrol frorewo

ffionsibleforAudlt

""' L"i.* the Exiernol Auditors monogemeni i.tt"t, fuv Audii Moiters ond monogement response io issues roised? Yes/No 1 63

Pleose exPLoin.

@rovec ;nl";^[;i

PCr;'i thii ' ' l.o"i, speci'ie-sou,iilonot n'ouo:t cerr'ces.rno'

Yes/No @TCo'rrnirtss

'

the

sholl not Provide?

Flt

'n",O o,sc..rss,ors

with the neod of r-le nol

tuJ;t tunction ond exiernol ouditors without ihu ,onog.*ent durlng lhe period underreview?

ffiMonogemeni

x"")1siG-aholrmon of the Risk Commiitee o

NED or on INED?

@ueo

Risk

Monogement fromew'orka Ves/No?, "a lf yes, when wos it oPProv<

ffiritlee

re,"e""'tle ' ooaqroa, ono tilgctiveness oi the RisL

Monogement Controls in Ploce?

Doie of lost review

@

hove o Boord- oPProved lT Doto Governonce

Fromewor(? Yes/No l' yes "ou of te^ ,s it reviewec:?

"^"ffiilteerece;ve

*i €a

t

' ond review compllonce repori on the lT Doto Governonce Fromework?

*-)' b thAcheiRsk off,Ct (CRo) " tember of

Senior Monogemen'i ond does he..hove

relevoni erpeiience for this role? Yes/No

p6p7 meethgs o'lre committee o'o fl* ' the CRO oltend du'ing rhe oerroo -nder

ffifffiffi"F"ryt

Frinc-rinciple'l 2: APPoiniment to the Boord

;r ls there o Boord-OpOroveO poLlcv l(J r|Y oppointment of Directors? Yes/No tfr3

rigorous, f ormol ond tronsporeni Procedure serves crs o guide for ihe se/eclion of

"A written, cleailY defined, @sidered

oppointmeni?

:ffiosce'ici'ir'g

Direclars fo ensure lhe oppointmenl of high-quolitY individuols lo lhe Boord"

for their

Ihor prospeclive o''eclors ore f't ond otoper

,) Tth.reZdefi"ed ttnure for ihe following:

;} H:;,1]'#3" N C

ffi

-1rrv;f -toTlr,t

\->i rrr e${ue

REPoRToNcoMPLIANCEWiTHTHENIGERIANcoDEoFcoRPoRATEGoVERNANCE2018

Reporting QuestionsPrinciples

Principle l3: lnduction ond Conlinuing Educolion

'A f6rmgl induciiOn progromme on ioining fhe Boord os weJJ os regular lrcsining ossists Direcfors io effective/Y dischorge lheir duties io the ComPonY"

Principle 14: Boord Evoluoiion

" Annuol Boord evalucstion ossesses how eoch Dhectar, lhe commiliees of lhe Boord ond ihe Bocsrd are commifted lo iheir roles, work together cnd conlinue io confribule eff ecliveiY io lhe ochievemenl of ihe

ComponY's objecilves"Principle 15: CorPorole

Governonce Evoluoiion

") PleoseTate lhe tenure

'J'iDoes tr'e Boord nove o 'r^'e55'o e'5 '-e -- -)

i refresheo Pe'iod,corlT? Yes/No? TS ti Does the Boo'd ho/e o lolmoL Io-c:o'' o.ogrorrr,^e ror new oireclors? Yes/No rl'&5 li') During the period under revtew' were r

Oiru.io,, oPPointed? Yes/No Ft C lf yes, provlde do'te of lnduclion' ',il) Are Dtreclors pro"ded relevont troining to enoble 'them effeciively dischorge their

dutles? Yes/No lf yes, provide troining detoils.

@lngneedsof

Direclors? 71+e C[thr-rrt ryr.i Har*'U'tS

i Clhere o Boord-opproved lroining plon?

yes/No -t gS ;)lras I De",.r b"dgered ior? Y.t/No .i+g

i) ls there o Boord-opproved polrcy evoluoting Boord performonce? *tt*

f"r- tne period under review, wos there ony Boord Evoluotion exercise conducled?

Yes/No

,fil lf y.t ,'.ldrc"te whether internol or externol' Provlde do'te of losi evoluotion.

'fr) HA- the Boord Evoluotion reporl been p"eserteo to'l^e full Booro? Yes/No . . ..

rf ,es rolcore oote of presentollon H u ;fDd ih. Ch"'-."" discuss the evoluotion report with the indivlduol directors? Yes/No

vl) ls the resuli of lhe evoluotion for eoch Director considered in the re-election Process?

under review, hos the

" nstltutioncrlizing o system for evalt-tating ihe ComPonY's corporate governonce proclices ensures lhat ils governonce slondords, prociices ond Processes ore odeq uole ond effecilve "Principle 16: Rerhunerotion Governonce

d) NED

e)

EDs

1er

N d

Yes/No

f.dC

Yes/No

*1es

[EC-tol.m-ppeornioYo conducied o corPorote governonceevoluotion?Yes/No p[O lf yes, provide dote of the evoluolion' ) b the tesufi of the Corporole Governonce Evoluotion presented ond considered by the Boord? Yes/No

@edoteof

lost

presentotion.

iuPs ltre summory of the Corporote Governonce

Evoluolion included in the onnuol reporls ond lnvestors Porlol? Yes/No

i) 1s ihere o Boord-opproved Drrectors r emune'otion Po'icv ? Yes/No li yes. how of rer is t reviewed? N L'

E,.plr""t'." ;"ppli"otion or deviolion

1.o

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Principles

Reporiing Queslions

"The Boord ensures thctl lhe li) Provide detoils of directors' fees, ollo',voncesC o m po ny re m unercstes f o trly, responslb/y ond transporenlly so os to prc.trnote ihe ocnie emenl af s/rolegic

ond oll o'ther benefiis poid to them during the period under review

obleciives ond Posi/i' e iii) ls the remunerotion of NEDS presenied to shoreholders for opprovol? Yes/No if yes. when wos it opproved? 'e9

oufcomes ln lhe short.

medium c:nd long term"

iv) Whoi portion of the NEDs remunerotlon is linked to compony performonce? flt N6 v) ls there o Boord-opproved remunerotlon policy for Executlve ond Senior morogemen'? Yes/No JAt lf yes, to whol extent is remunerotion Linked 1o compony performonce? r{ c vi) Hos the Boord set KPls for Executive

Monogement? Yes/No Y*.

vii) lf yes, wos ihe performcnce meosured ogoinst the KPls? Yes/No ya_l viii) Do ihe MD/CEO, EDs ond ComPonY

Secreiory receive o sitting ollowcnce ond/or directors' fees? Yes/No n{1J ix) Which of the following receive silting ollowonce ond/or fees:

MD/CEO o. rD b.

• c. Compony Secreiory

  Nrtu'E

• d. Other Senior monogemeni stoff

x) ls ihere a Boord-opproved clowbock policy for Executive monogemenl? Yes/No f yes, otloch the policy. N C

Principle

171

Monogement

Risk

i) Hos the Boord defined the compony's risk oppeiiie ond limii? Yes/No

"A sound f romework f or ii) How often does the compony conduct o risk

nonog:ng risl ond ensuring on effeciive internol conlro/ sysfem is essenlioi f or och;er',ng Ihe slrolegic oblecfives of the Compony"

ossessment? kf-.erV.r e,,U1*-t iii) How often does lhe boord receive ond review risk monogemen'i reports?

f 6 t--*r" c'"='',-u- c-'t

Explonolion on opplicotion or deviolion

,.

"An effective infernol audit function provides ossuronce fo ihe Boctrd on lhe effectiveness of lhe

Principle '18: lnlernol Audil

i) Does the compony hove on lniernol Audlt function? Yes/No ;fri lf no, how hos the Boord obloined odequote ossuronce on the effeciiveness of iniernol processes ond systems?

gavernonce, risk ii) Does ihe compony hove o Boord-opprovedmonogemeni ond inlernol confro/syslems"

inlernol ouditchorler? Yes/No jes

• iii) ls the heod of internol oudll o member of senior monogemen'i? Yes/No -tes

• iv) Whot is ihe quolificotion ond experience of + CthFr{L&qfLEl> IfC-'t'tt-F I r--

lhe heod of internol oudil?

v) Does the compony hove o Boord-opproved onnuol risk-bosed internol oudii p on? Yes/No

vi) Does ihe heod of the iniernoi oudit function report of leost once every qucrler to the commiitee responsible for oudit, on the

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