Corporate Governance

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Remuneration Committee

(Extracted from the Corporate Governance Report contained in the Company's 2015/16 Annual Report dated 8 September 2016)

The Remuneration Committee was established in June 2005 and is chaired by Professor Wong Yue-chim, Richard, an Independent Non-Executive Director. Other members of the Committee are Dr. Li Ka-cheung, Eric, Mr. Kwan Cheuk-yin, William and Dr. Leung Nai-pang, Norman. All members are Non-Executive Directors and the majority of them are Independent Non-Executive Directors.

The Company has adopted the model to delegate the determination of the remuneration packages of individual Executive Directors to the Remuneration Committee. The Committee is responsible for formulating and recommending remuneration policy to the Board and reviewing and making recommendations on compensation-related issues. The fees for the Directors are subject to the approval of the shareholders at the general meetings in accordance with the Articles of Association. The Committee, with the assistance of the Head of Internal Affairs, consults with the Chairman on its proposals and recommendations if necessary, and also has access to independent professional advice if necessary. The Committee is also provided with sufficient resources enabling it to perform its duties. The Committee’s specific terms of reference are posted on the websites of the Company and HKEx.

During the year ended 30 June 2016, the Remuneration Committee reviewed the Directors’ fees and the emoluments of the Executive Directors as well as the remuneration package of the newly appointed Executive Director. Particulars of the Directors’ emoluments are set out in note 5 to the consolidated financial statements. The Committee held a meeting during the year and the attendance records of the members at the meeting are set out below:

 Committee members Meeting attended / held
Wong Yue-chim, Richard 1/1
Li Ka-cheung, Eric 1/1
Kwan Cheuk-yin, William 1/1
Leung Nai-pang, Norman 1/1

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