Bonus

Philippines
PLCName Cooperative Insurance System of the Philippines
StockCode
Expert Name
Sector Insurance
Year 2015
Date of Financial Year End 31/12/2015

 

Source Document/ Location of Information Yes / No Point REMARKS
Level 2 Bonus Items
A Rights of shareholders
A.1 Right to participate effectively in and vote in general shareholders meeting and should be informed of the rules, including voting procedures, that govern general shareholders meeting.
A.1.1(B) Does the company allow the use of secure electronic voting in absentia  at the general meetings of shareholders? Minutes of current AGM/Election Guidelines Y 2
B Equitable treatment of shareholders
B.1 Notice of AGM
B.1.1(B) Does the company release its notice of AGM (with detailed agendas and explanatory circulars), as announced to the Exchange, at least 28 days before the date of the meeting? Notice of AGM/Minutes of AGM Y 1 The items in the agenda were also explained prior to their presentation during the AGM.The notices or communications regarding the date, time and place of AGAM are dessiminated through courier, website, publication and emails.
C. Role of Stakeholders
C.1 The rights of stakeholders that are established by law or through mutual agreements are to be respected
C.1.1(B) Does the company practise integrated report on its annual reports? Y 2
D Disclosure and transparency
D.1 Quality of Annual Report
D.1.1(B) Are the audited annual financial report/statement released within 60 days from the financila year end? Y 1
D.1.2(B) Does the company disclose details of remuneration of the CEO? N 0 disclose the remuneration in agregate anount
E Responsibilities of the Board
E.1 Board Competencies and Diversity
E.1.1(B) Does the company have at least one female independent director/commissioner? N 0
E.2 Nominating Committee
E.2.1(B) Does the Nominating Committee comprise entirely of independent directors/commissioners? Y 1 The Election Committee serves as the Nominating Committee. It is vested with the power under the By-laws to pass upon and approved all the qualifications and disqualifications of any candidates for the Board of Director and Committee member. (see by-laws and election guidelines)
E.2.2(B) Does the Nominating Committee undertake the process of identifying the quality of directors aligned with the company’s strategic directors?
E.3 Board Appointments and Re-Election
E.3.1(B) Does the company use professional search firms or other external sources of candidates (such as director databases set up by director or shareholder bodies) when searching for candidates to the board of directors/commissioners? N 1 The CISP directors represent their repsective organizations (cooperatives which are shareholders of CISP. Thus, during election these coops will usually appoint from among its officers who they could authroize to run in any elected office of the CISP, whose qualifications will be subject to review assessment by the Election Committee.
E.4 Board Structure & Composition
E.4.1(B) Do independent non-executive directors/commissioners make up more than 50% of the board of directors/commissioners? N 0 The circular allows only 20% independent non-exec.directors
E.5 Board Performance
E.5.1(B) Does the company have seperate level Risk Committee? N 0