Page 111 - flipbook-ubp-IR

OUR FINANCIAL PERFORMANCE STATEMENTS
Board Meetings
The Board determines the frequency of Board meetings, which are held at least on a quarterly basis to ensure that key matters are dealt with timeously. Meetings are scheduled up to one year in advance so that Directors are able to attend and participate in person. The Board promotes open and rigorous discussions, constructive debates and active participation during meetings. Special ad hoc meetings may also be called from time to time, as required.
The Chairman and the Group CEO, assisted by the Company Secretary, are responsible for fixing the agenda and date for each Board meeting.
The Chairman and the Company Secretary ensure that the Directors receive the right information in a timely manner to enable them to make informed business decisions.
The attendance record of Board meetings for the year under review is as shown on page 113.
Focus Areas
The Board met ten times this year to examine, consider, discuss or approve, inter alia, the focus areas detailed hereunder. The Board has also approved some decisions by way of written resolutions.
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STRATEGY AND PERFORMANCE
• The activity reports of the Group CEO, including the performance of subsidiaries and associates
• An increase in our shareholding in Drymix Ltd and Pre-Mixed Concrete Limited
• The operational strategy, performance of and way forward of our overseas subsidiaries
• Investment in a new business venture
• The impact of COVID-19 on the Group
• Strategic review of the report of the ad hoc Strategic Committee of the Group
• Additional investment in one of our associates
• A substantial investment in a group of companies in Reunion Island
• Reports from the Chairperson of the Corporate Governance Committee
• Reviewed Board Charter
• Replacement of a Non- Executive Director
• IT Governance Framework
• Discussion on the definition of Independent Non- Executive Directors
• Succession planning of the Chairman and election of a new Chairman
• Reports from the Chairman of the Risk Monitoring Committee
• Compliance audit report
• Adequacy of the Group’s Insurance cover
• Reports from the Internal Auditor
• Update on the progress of the Group’s adherence to the Data Protection Act
• Reports from the • Chairperson of the Audit
Committee •
The Annual Meeting of Shareholders
Approved communiqués in accordance with prevailing laws, rules and regulations
The purchase of a property, partly leased by the Company
Reviewing the supply terms of a major raw material
• The operational and capital expenditure budgets
• The Group’s financial performance against the budget
• The Audited Group Financial Statements and the Annual Report for the year ended June 30, 2021
• The quarterly Unaudited Abridged Group Interim Financial Statements
• Discussed and approved the dividend pay-out proposal
• The financial reports in respect of the substantial investment in a group of companies in Reunion Island
• •
RISK MANAGEMENT
GOVERNANCE AND INTERNAL FINANCIAL
CONTROL
OTHER AGENDA ITEMS
UBP INTEGRATED REPORT 2022
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CORPORATE GOVERNANCE