Meetings

Board meetings are scheduled before the start of the financial year. This schedule is posted on our company website immediately. The non-executive directors of our Board also meet separately at least once during the year without any executives present.

Attendance

In 2017, our Board of Directors had a total of eight (8) board meetings including the Annual Stockholders' Meeting. The attendance of each director in board meetings held in 2017 is enumerated below. Our directors’ attendance to board meetings is also in our Annual Corporate Governance Report and Annual and Sustainability Report. Meanwhile, the attendance of each director to their respective committee meetings is reflected separately in the Board Committees section of our website, which is also reflected in our annual reports.


The Board receives board documents containing reports on the company’s strategic, operational, and financial performance, and other regulatory and relevant matters, at least seven business days in advance of the board meetings. The Board has access to the Corporate Secretary who acts as adviser to directors regarding their responsibilities and obligations, and oversees the flow of information prior to meetings. Discussions with independent views during meetings are encouraged, given due consideration and properly documented through the minutes of meetings.


The average attendance rate of members of the Board was 93%, which is more than compliant with the Securities and Exchange Commission’s minimum attendance requirement of 50%. The average attendance rate of our independent directors was 96% in 2017.

BOARD MEMBERMEETINGS ATTENDED
PERCENT PRESENT

Jaime Augusto Zobel de Ayala8 / 8100%

Lang Tao Yih, Arthur*6 / 8100%

Fernando Zobel de Ayala6 / 875%

Jose Teodoro K. Limcaoco8 / 8100%

Romeo L. Bernardo8 / 8100%

Delfin L. Lazaro6 / 875%

Samba Natarajan7 / 888%

Saw Phaik Hwa8 / 8100%

Rex Ma. A. Mendoza7 / 888%

Manuel A. Pacis8 / 8100%

Ernest L. Cu8 / 8100%
* Mr. Arthur Lang Tao Yih was elected as Director on April 18, 2017
** Board Meetings held include the 2017 Annual Stockholders' Meeting

Manual of Corporate Governance

Board of Directors' Charter

2018 Certification of Independent Directors

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