Charter of the Board of Directors

In accordance with the charter of the Board of Directors, the Board shall:

assume responsibility for all other duties stipulated for Boards of Directors in the Companies Act and elsewhere,
decide on Group strategy,
review and approve the interim reports, consolidated financial statements and Annual Report,
confirm the Group’s business plan, budget and investment plan,
decide on individual investments, acquisitions, divestments or corporate restructuring and contingent liabilities that are strategically or financially significant,
confirm the Group’s risk management and reporting procedures,
confirm the Group’s insurance policy,
approve the Group’s financing policy,
decide on the compensation and incentive schemes for Group management,
proposes dividend payout amount to the Annual General Meeting,
appoint the company’s President and CEO and decide on his compensation,
approve the recruitments and compensation of direct reports of the company's President and CEO
annually evaluate its operations.
as long as there is no audit committee, arrange the following tasks:

monitor the reporting process of financial statements,
supervise the financial reporting process,
monitor the efficiency of the company’s internal control, if applicable internal audit, and risk management systems,
review the description of the main features of the internal control and risk management systems pertaining to the financial reporting
process, which is included in the company’s corporate governance statement,
monitor the statutory audit of the financial statements and consolidated financial statements,
evaluate the independence of the statutory auditor or audit firm, particularly the provision
of related services to the company to be audited, and
prepare the proposal for resolution on the election of the auditor.

Charter of the board of directors