48
Cordlife Group Limited
Annual Report 2016
Directors’
Statement
Details of the Awards granted to Directors of the Company pursuant to the Plan are as follows:
Aggregate shares Aggregate shares
granted since
released since
commencement
commencement
Aggregate
Aggregate shares
Shares
of the Plan to
of the Plan to
shares cancelled
outstanding as
granted during
the end of the
the end of the
as at end of the
at the end of the
Name of participant
the financial year
financial year
financial year
financial year
financial year
Mr Yee Pinh Jeremy
71,700
200,100
(25,750)
(174,350)
–
Since the commencement of the Plan till the end of the financial year:
No participant has received 5% or more of the total Awards available under the Plan;
No options have been granted to directors and employees of the holding company and its subsidiaries;
No options that entitle the holder to participate, by virtue of the options, in any share issue of any other
corporation have been granted; and
No options have been granted at a discount.
Audit committee
The audit committee (the “AC”) carried out its functions in accordance with section 201B (5) of the Singapore
Companies Act, Chapter. 50, including the following:
–
Reviews the audit plans of the internal and external auditors of the Company, and reviews the internal auditor’s
evaluation of the adequacy of the Company’s system of internal accounting controls and the assistance given
by the Company’s management to the external and internal auditors;
–
Reviews the quarterly and annual financial statements and the auditor’s report on the annual financial
statements of the Company before their submission to the Board of Directors;
–
Reviews effectiveness of the Company’s material internal controls, including financial, operational and
compliance controls and risk management via reviews carried out by the internal auditors;
–
Meets with the external auditor, other committees, and management in separate executive sessions to discuss
any matters that these groups believe should be discussed privately with the AC;
–
Reviews legal and regulatory matters that may have a material impact on the financial statements, related
compliance policies and programmes and any reports received from regulators;
–
Reviews the cost effectiveness and the independence and objectivity of the external auditor;
–
Reviews the nature and extent of non-audit services provided by the external auditor;
–
Recommends to the Board of Directors the external auditor to be nominated, approves the compensation of the
external auditor, and reviews the scope and results of the audit;
–
Reports actions and minutes of the AC to the Board of Directors with such recommendations as the AC
considers appropriate; and
–
Reviews interested person transactions in accordance with the requirements of the Singapore Exchange
Securities Trading Limited’s Listing Manual.
The AC, having reviewed all non-audit services provided by the external auditor to the Group, is satisfied that the
nature and extent of such services would not affect the independence of the external auditor. The AC has also
conducted a review of interested person transactions.
