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The Remuneration and Nomination Committee shall be composed of two persons as shall be appointed from time to time by the Board of Directors. The members appointed by the Board of Directors to sit on the Remuneration and Nomination Committee are the following:


The primary purpose of the Remuneration and Nominations Committee is to:

  • review the setting of remuneration levels within the company, including remuneration levels for the Executive Directors;
  • to evaluate the performance of the individual Executive Directors;
  • to monitor the level and the structure of the remuneration of Non-Executive Directors on the basis of adequate information provided by the Executive Directors; and
  • to approve or otherwise performance related bonus awards and long term incentive plan awards.


Furthermore, the Remuneration & Nominations Committee is also mandated by the Board of Directors:

  • to identify and nominate for Board approval, candidates for appointment as Members of the Board and Board Committees, including the respective Chairmen of the Board Committees;
  • to deposit a list of the nominated candidates with the company at least 14 days before the annual general meeting;
  • to review candidates for and make appointments to fill senior management positions, as required;
  • in identifying suitable candidates, to ensure the process of advertising, recruitment and selection is fair, open and orderly, consider candidates from a wide range of backgrounds and consider candidates on merit against objective, competency-based criteria;
  • to give full consideration to and regularly review succession planning in the course of its work, taking into account the challenges and opportunities facing the Issuer and what skills and expertise are therefore needed for the future; and
  • to regularly review the structure, size and composition (including the skills, knowledge and experience) of the Non-Executive Directors, the Independent Non-Executive Directors and the committees of the Board, and make recommendations to the Board/shareholders with regard to any changes.