22
LHN Limited Annual Report
Report on
Corporate Governance
The Board conducts scheduled meetings on a quarterly basis
.
Additional meetings are convened as and
when circumstances warrant
.
The Articles of Association of the Company (the
“
Articles of Association
”
)
allow Board meetings to be conducted via any form of audio or audio-visual communication
.
The Directors
are free to discuss any information or views presented by any member of the Board and Management
.
The Company adopts a policy which welcomes Directors to request for further explanations
,
briefings or
informal discussions on any aspect of the Group
’
s operations or business from the Management
.
When necessary or appropriate
,
members of the Board exchange views outside the formal environment of
board meetings
.
Each Board member is expected to objectively discharge his or her duties and fiduciary
responsibilities at all times in the best interests of the Company
.
The attendance record of each Director at meetings of the Board and Board Committees during FY2015 is
disclosed below
:
Board
(1)
AC
NC
RC
Number of meetings held in FY2015
(1)
2
2
1
1
Name of Director
Number of meetings attended in FY2015
Lim Lung Tieng (
“
Kelvin Lim
”
)
2
2
(2)
1
1
(2)
Lim Bee Choo (
“
Jess Lim
”
)
2
2
(2)
1
(2)
1
(2)
Ch
’
ng Li-Ling
2
2
1
1
Lee Gee Aik
2
2
1
1
Yong Chee Hiong (
“
Eddie Yong
”
)
2
2
1
1
(1) The Company held its first Board meeting on 13 May 2015
,
after its listing on 13 April 2015
.
(2) Attended as an invitee
.
Newly appointed directors will be given briefings and orientation by the Executive Directors and Management
to familiarise them with the businesses and operations of the Group
.
Upon appointment
,
the Director will
receive a letter of appointment setting out his/her duties and responsibilities
.
All newly appointed Directors
who do not have prior experience as a director of a public listed company in Singapore would attend relevant
training courses when applicable
.
The Directors may join institutes and group associations of specific interests
,
and attend relevant training
seminars or informative talks from time to time so that they are in a better position to discharge their duties
.
The Company encourages the Directors to attend courses in areas of directors
’
duties and responsibilities
,
corporate governance
,
changes in financial reporting standards
,
insider trading
,
changes in the Companies
Act (Chapter 50) of Singapore (the
“
Companies Act
”
) and industry-related matters
,
to develop themselves
professionally
,
at the Company
’
s expense
.
For FY2015
,
briefings
,
updates and trainings for the Directors include
:
• briefing by Drew & Napier LLC in connection with the preparation of the initial public offering
,
on
Directors
’
role and responsibilities and the disclosure requirements of the Company pursuant to the
Securities and Futures Act
,
Chapter 289 of Singapore (the
“
SFA
”
)
,
the Catalist Rules and continuing
obligations
;
• briefing by the external auditors (
“
EA
”
) on changes or amendments to accounting standards at the AC
meetings
;
and
• updates by the Company Secretary on proposed amendments to the Companies Act
,
and Catalist Rules
,
from time to time
.
