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INTRODUCTION ABOUT US MANAGEMENT APPROACH
STATEMENT OF COMPLIANCE
(AS PER SECTION 75(3) OF THE FINANCIAL REPORTING ACT 2004)
Name of Public Interest Entity (“PIE”): The United Basalt Products Limited
Reporting Period: June 30, 2022
The Board of Directors of The United Basalt Products Limited (the “Company”) confirms that to the best of its knowledge, the Company has complied with all the principles of The National Code of Corporate Governance for Mauritius (2016) (“the Code”) in all material aspects, except for the following:
Principle 2 – The Structure of the Board and its Committees
Principle 4 – Director Duties, Senior Executives Remuneration and Performance
On behalf of the Board
Jean-Claude Béga
Chairman
September 27, 2022
Mr Marc Freismuth, who was one of the Non-Executive Directors and Chairman, and Mrs Kalindee Ramdhonee, one of the Independent Non-Executive Directors, had one cross-directorship. The Board of the Company has taken note that upon the resignation of Mr Freismuth as Director and Chairman on June 30, 2022, there is no longer any cross directorship with Mrs Ramdhonee.
In accordance with the Board Charter, the Board, its Committees and the Directors are assessed on a biennial basis. Upon recommendation of the Corporate Governance Committee, the Board evaluation exercise due in FY2022 was exceptionally postponed in view of enabling the new Chairman to get acquainted with the functioning of the Board and the affairs of the Group prior to carrying out such an exercise.
Stéphane Ulcoq
Group CEO
98
UBP INTEGRATED REPORT 2022