(incorporated in the Cayman Islands with limited liability)
("Company") TERMS OF REFERENCE OF THE NOMINATION COMMITTEE ADOPTED BY THE BOARD ON 14 MARCH 2012 1 Membership
(a) The Nomination Committee (hereinafter referred to as the
"Committee") shall be appointed by the board of directors of
the Company ("Board"). The Committee shall consist of not
less than three members, a majority of whom should be
independent non-executive directors of the Company ("INEDs").
The constitution of the Committee shall comply with the
requirements of the Rules Governing the Listing of Securities
on The Stock Exchange of Hong Kong Limited ("Listing Rules")
from time to time.
(b) The chairman of the Committee shall be the chairman of
the Board
("Chairman") or an INED.
(a) Unless otherwise stated herein, the meetings of the
Committee are governed by the provisions contained in the
Company's articles of association for regulating the
meetings and proceedings of directors.
(b) The quorum for a meeting of the Committee shall be two
members, both of whom must be INEDs.
(c) Where the Chairman is not a member of the Committee,
he/she may attend meetings of the Committee.
(d) The Committee may, where appropriate, invite external
advisers and/or members of the management of the Company to
attend the meeting to advise its members.
(e) The company secretary shall be the secretary of the
Committee who should attend all meetings of the
Committee.
(f) Members of the Committee may participate in a meeting of
the Committee by means of telephone conference or similar
communications equipment by means of which all persons
participating in the meeting can hear each other and
participation in a meeting pursuant to this provision shall
constitute presence in person at such meeting.
Meetings shall be held not less than once a year. Any member of the Committee may request a meeting if he/they consider(s) that one is necessary and upon the receipt of such request, the secretary of the Committee shall convene a meeting as soon as reasonably practicable and having regard to the convenience of all members with priority given to the INEDs.
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4 Committee's ResolutionsA resolution in writing signed by all members of the Committee shall be as valid and effectual as if it had been passed at a meeting of the Committee and may consist of several documents in like form each signed by one or more of the members of Committee. Such resolution may be signed and circulated by fax or other electronic communications. This provision is without prejudice to any requirement under the Listing Rules for a physical meeting of the Board or Committee to be held.
5 Authorities
(a) The Committee is authorised by the Board to review,
assess and make recommendations upon any issue within its
terms of reference. It is authorised to seek any information
it requires from any employee or executive director and such
persons are directed to co-operate with any request made by
the Committee.
(b) The Committee is authorised by the Board, and at the
reasonable expense of the Company, to obtain outside legal or
other independent professional advice and to secure the
attendance of outsiders with relevant experience and
expertise if it considers this necessary.
(c) The Committee is to be provided with sufficient resources
by the Company to perform its duties. Where necessary, the
Committee should seek independent professional advice, at the
Company's expense, to perform its responsibilities.
The purpose of the establishment of the Committee is to ensure the presence of a formal and transparent procedure for the appointment of new directors to the Board.
7 Duties
The duties of the Committee shall be:
(a) review the structure, size and composition (including the
skills, knowledge and experience) of the Board at least
annually and make recommendations to the Board on any
proposed changes to the Board to complement the Company's
corporate strategy;
(b) identify individuals suitably qualified to become members
of the Board and select or make recommendations to the Board
on the selection of individuals nominated for
directorships;
(c) assess the independence of the INEDs;
(d) make recommendations to the Board on the appointment or
re-appointment of directors and succession planning for
directors in particular the chairman and chief executive of
the Company;
(e) conform to any requirement, direction, and regulation
that may from time to time be prescribed by the Board or
contained in the constitution of the Company or imposed by
the Listing Rules or applicable law; and
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(f) ensure the chairman of the Committee, or in the absence of the chairman, another member of the Committee or failing this his duly appointed delegate, to be available to answer questions at the annual general meeting of the Company.
8 Reporting Procedures
(a) The Committee shall report to the Board. At the next
meeting of the Board following a meeting of the Committee,
the chairman of the Committee shall report the findings and
recommendations of the Committee to the Board.
(b) The Committee's recommendations on nomination will be
placed before the Board in the form of a Board paper
circulated in advance of Board meetings through the company
secretary.
(c) Such recommendations will be supported by the resume in
respect of the individuals concerned.
These terms of reference shall be updated and revised as and when necessary in light of changes in circumstances and changes in regulatory requirements (e.g. the Listing Rules) in Hong Kong. These terms of reference shall be made available to the public by including the information on The Stock Exchange of Hong Kong Limited's website and the Company's website.
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| This press release was issued by SOHO China Ltd. and was initially posted at http://202.66.146.82/listco/hk/sohochina/announcement/a120329c.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-30 11:07:01 AM. The issuer is solely responsible for the accuracy of the information contained therein. |