ACGS Round 2014 Self Assessment[1]

8/21/2019 ACGS Round 2014 Self Assessment[1]

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2014

ASEAN CORPORATE GOVERNANCE SCORECARD ROUND 2014

SELF-ASSESSMENT


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ii Annual Corporate Governance Report | Philex Mining Corporation

Table of Contents

PART A: RIGHTS OF SHAREHOLDERS .............................................................................................................................................................................. 1

A.1 Basic Shareholders Rights ................................................................................................................................................................................ 1

A.2 Right to participate in decisions concerning fundamental corporate changes. .............................................................................................. 1

A.3 Right to participate effectively in and vote in general shareholder meetings and should be informed of the rules, including voting

procedures, that govern general shareholder meetings. ............................................................................................................................................. 2

A.4 Markets for corporate control should be allowed to function in an efficient and transparent manner......................................................... 8

A.5 The exercise of ownership rights by all shareholders, including institutional investors, should be facilitated. ............................................. 8

PART B: EQUITABLE TREATMENT OF SHAREHOLDERS ................................................................................................................................................... 9

B.1 Shares and Voting Rights .................................................................................................................................................................................. 9

B.2 Notice of AGM ................................................................................................................................................................................................ 10

B.3 Insider trading and abusive self-dealing should be prohibited. ..................................................................................................................... 12

B.4 Related party transactions by directors and key executives. ......................................................................................................................... 13

B.5 Protecting minority shareholders from abusive actions ................................................................................................................................ 14

PART C: ROLE OF STAKEHOLDERS ................................................................................................................................................................................ 15

C.1 The rights of stakeholders that are established by law or by mutual agreement are to be respected. ........................................................ 15

C.2 Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of

their rights. .................................................................................................................................................................................................................. 19

C.3 Performance-enhancing mechanisms for employee participation should be permitted to develop. ........................................................... 20

C.4 Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about

illegal or unethical practices to the board and their rights should not be compromised for doing this. ................................................................... 21

PART D: DISCLOSURE AND TRANSPARENCY ................................................................................................................................................................. 22

D.1 Transparent ownership structure .................................................................................................................................................................. 22

D.2 Quality of Annual Report ............................................................................................................................................................................... 23

D.3. Disclosure of related party transactions (RPT) ............................................................................................................................................. 27

D.4 Directors and commissioners dealings in shares of the company ................................................................................................................. 27


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iii Annual Corporate Governance Report | Philex Mining Corporation

D.5 External auditor and Auditor Report ............................................................................................................................................................. 28

D.6 Medium of communications .......................................................................................................................................................................... 28

D.7 Timely filing/release of annual/financial reports ........................................................................................................................................... 29

D.8 Company website ........................................................................................................................................................................................... 30

D.9 Investor relations ........................................................................................................................................................................................... 31

PART E: RESPONSIBILITIES OF THE BOARD ................................................................................................................................................................... 32

E.1 Board Duties and Responsibilities .................................................................................................................................................................. 32

E.2 Board structure ............................................................................................................................................................................................... 34

E.3 Board Processes .............................................................................................................................................................................................. 40

E.4 People on the Board ....................................................................................................................................................................................... 47

E.5 Board Performance......................................................................................................................................................................................... 50

LEVEL 2 : BONUS ........................................................................................................................................................................................................... 52

PART A: RIGHTS OF SHAREHOLDERS ............................................................................................................................................................................ 52

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. ........................................................................................................................................... 52

PART B: EQUITABLE TREATMENT OF SHAREHOLDERS ................................................................................................................................................. 53

B.1 Notice of AGM ................................................................................................................................................................................................ 53

PART C: ROLE OF STAKEHOLDERS ................................................................................................................................................................................ 53

C.1 The rights of stakeholders that are established by law or by mutual agreement are to be respected. ........................................................ 53

PART D: DISCLOSURE AND TRANSPARENCY ................................................................................................................................................................. 54D.1 Quality of Annual Report ............................................................................................................................................................................... 54

PART E: RESPONSIBILITIES OF THE BOARD ................................................................................................................................................................... 54

E..1. Board Competencies and Diversity .............................................................................................................................................................. 54

E.2 Nominating Committee .................................................................................................................................................................................. 55

E.3 Board Appointments and Re-Election ............................................................................................................................................................ 55

E.4 Board Structure & Composition ..................................................................................................................................................................... 56


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iv Annual Corporate Governance Report | Philex Mining Corporation

E.5 Board Performance......................................................................................................................................................................................... 56

LEVEL 2 : PENALTY ........................................................................................................................................................................................................ 56

PART A: RIGHTS OF SHAREHOLDERS ............................................................................................................................................................................ 56

A.1 Basic shareholder rights ................................................................................................................................................................................. 56

A.2 Shareholders, including institutional shareholders, should be allowed to consult with each other on issues concerning their basic

shareholder rights as defined in the Principles, subject to exceptions to prevent abuse.rights as defined in the Principles, subject to exceptions

to prevent abuse. ........................................................................................................................................................................................................ 57

A.3 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. ........................................................................................................................................... 57

A.4 Capital structures and arrangements that enable certain shareholders to obtain a degree of control disproportionate to their equity

ownership should be disclosed. .................................................................................................................................................................................. 58

A.5 Capital structures and arrangements that enable certain shareholders to obtain a degree of control disproportionate to their equity

ownership should be disclosed. .................................................................................................................................................................................. 58

B. Equitable treatment of shareholders ....................................................................................................................................................................... 59

B.1 Insider trading and abusive self-dealing should be prohibited. ..................................................................................................................... 59

B.2 Protecting minority shareholders from abusive action ................................................................................................................................. 59

C. Role of stakeholders ................................................................................................................................................................................................. 59

C.1 The rights of stakeholders that are established by law or through mutual agreements are to be respected. ............................................. 59

C.2 Where stakeholders participate in the corporate governance process, they should have access to relevant, sufficient and reliable

information on a timely and regular basis. ................................................................................................................................................................. 60

D. Disclosure and transparency .................................................................................................................................................................................... 60

D.1 Sanctions from regulator on financial reports ............................................................................................................................................... 60

E. Responsibilities of the Board .................................................................................................................................................................................... 61

E.1 Compliance with listing rules, regulations and applicable laws ..................................................................................................................... 61

E.2 Board Appraisal .............................................................................................................................................................................................. 62

E.3 External Audit ................................................................................................................................................................................................. 62

E.4 Board structure and composition ................................................................................................................................................................... 62


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1 ASEAN Corporate Governance Scorecard | Philex Mining Corporation

PART A: RIGHTS OF SHAREHOLDERS

A.1 Basic Shareholders Rights

Item

No.

Question Response Source/Link Comments

A.1.1

Does the company pay (interim

and final/annual) dividends in

an equitable and timely

manner; that is, all

shareholders are treated

equally and paid within 30 days

after being (i) declared for

interim dividends and (ii)

approved by shareholders at

general meetings for finaldividends?

Yes

Page 42 of Management Report in DIS 20/ Notice of

AGM

http://www.philexmining.com.ph/userfiles/2014%20D

efinitive%20Information%20Statement.pdf

Glossy AR page 87

http://www.philexmining.com.ph/userfiles/file/Philex

%20Annual%20Report%202013/PMC%20AR%20Reduc

ed.pdf

Dividend Policy disclosurehttp://www.philexmining.com.ph/userfiles/Dividend%

20Pay-out%20Policy(1).pdf

Company’s dividend policy is to

distribute at least 25% of core net

income as dividends, and to pay

dividends within 30 days after

declaration. (Last cash dividends was

declared on February 26, 2014 and

paid March 26, 2014 - 29 days after

declaration with February being a

short month.)

A.2 Right to participate in decisions concerning fundamental corporate changes.

Item

No.Question Response Source/Link Comments

Do shareholders have the

right to participate in:

A.2.1 Amendments to thecompany's constitution?

Yes By Laws

http://www.philexmining.com.ph/userfiles/Amended

%20By-Laws(1).pdf

CG Manual

http://www.philexmining.com.ph/userfiles/PMC%20

Revised%20CG%20Manual(1).pdf

Shareholders have the right toparticipate in as follows: (i)

Amendment of Articles of

Incorporation; (ii)

Increase of capital stock; (iii)

Sale or disposition, including the

constitution of a mortgage or a

pledge, of all or substantially all of

the Company’s assets.

A.2.2The authorisation of

additional shares?Yes

A.2.3

The transfer of all or

substantially all assets, which

in effect results in the sale of

the company?

Yes

http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/Dividend%20Pay-out%20Policy(1).pdfhttp://www.philexmining.com.ph/userfiles/Dividend%20Pay-out%20Policy(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/Dividend%20Pay-out%20Policy(1).pdfhttp://www.philexmining.com.ph/userfiles/Dividend%20Pay-out%20Policy(1).pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf


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A.3 Right to participate effectively in and vote in general shareholder meetings and should be informed of the rules, including voting procedures,

that govern general shareholder meetings.

Item

No.Question Response Source/Link Comments

A.3.1

Do shareholders have theopportunity, evidenced by an

agenda item, to approve

remuneration (fees, allowances,

benefit-in-kind and other

emoluments) or any increases in

remuneration for the non-executive

directors/commissioners?

Yes

CG Manual http://www.philexmining.com.ph/userf

iles/PMC%20Revised%20CG%20Manua

l(1).pdf

By Laws

http://www.philexmining.com.ph/userf

iles/Amended%20By-Laws(1).pdf

Shareholders have the right to participate in

the following: (i)

Waiver of pre-emptive rights for specific

transactions; (ii) Mergers and consolidations

(Sec. 77. Code); (iii) Amendment of By-Laws.

A.3.2

Does the company provide non-

controlling shareholders a right to

nominate candidates for board of

directors/commissioners?

Yes

CG Manual (page 18)


iles/Corporate%20Governance%20Man

ual.pdf

Website

http://www.philexmining.com.ph/corp

orate-governance/key-partners/shareholders

By-Laws


iles/Amended%20By-Laws(1).pdf

ACGR page 86

Company respects rights of the minority

shareholders and develops policies towardensuring that the Board will, in all cases,

consider the corporate interests as a whole.

Key guidelines include (i) emphasis on the

fiduciary responsibilities of the Board and the

officers to the Company and its shareholders,

and the duties of care and prudence; (ii)

emphasis on the avoidance of conflict of

interest and on prompt disclosure of

potential conflict; (iii) prompt, full, and fair

disclosure of material information; (iv)adoption of policies on related party

transactions; and (v) other policies toward

avoidance of actions that will favor the

controlling or major shareholder/s at the

expense of the minority shareholder.

Right to nominate is corollary to the right to

vote, which is expressly provided in

Company’s CG Manual and By Laws.

http://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/corporate-governance/key-partners/shareholdershttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Manual.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdf


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Item

No.


A.3.3

Does the company allow

shareholders to elect

directors/commissioners

individually?

Yes

DIS -20/ Notice of AGM page 23/ page 27 of link



Minutes of AGM (page 2)

http://www.philexmining.com.ph/userfiles/PX%20-

%20Minutes%20AGM%20(June%2025%202014)%20FI

NAL.pdf

Election/Voting Procedures are

discussed both in the Notice of AGM

and Minutes of AGM.

A.3.4

Does the company disclosethe voting and vote

tabulation procedures used,

declaring both before the

meeting proceeds?

Yes


http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf




NAL.pdf

Proxies are tabulated and results

announced for each item on the

Agenda.

A.3.5

Do the minutes of the most

recent AGM record that

there was an opportunity

allowing for shareholders to

ask questions or raise issues?

Yes




Minutes of AGM (page 8-9)



NAL.pdf

Recent AGM provided for an open

forum/Q&A for shareholders to ask

questions and/or raise issues.

http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf


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Item

No.


A.3.6Do the minutes of the mostrecent AGM record questions

and answers?

Yes

Minutes of AGM (pages 8-9)



NAL.pdf

ACGR (pages 81-82)

Questions and /or issues or concernsraised during the AGM open forum are

part of the AGM minutes.

A.3.7Does the disclosure of theoutcome of the most recent

AGM include resolution(s)?

Yes




NAL.pdf

ACGR (pages 82)

Minutes of AGM include all the

resolutions taken up during the AGM.

A.3.8

Does the company disclose

the voting results including

approving, dissenting, and

abstaining votes for each

agenda item for the most

recent AGM?

Yes

Minutes of AGM



NAL.pdf

Voting results are disclosed and

included in the Minutes of AGM.

http://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdf


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Item

No.


A.3.9


the list of board members

who attended the most

recent AGM?

Yes

Minutes of AGM (page1)



NAL.pdf

Attendance of the Board of Directors is

disclosed in the Minutes of AGM.

A.3.10

Did the chairman of the

board of

directors/commissioners

attend the most recent

AGM?

Yes

Minutes of AGM (page1)


%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdf

Attendance of Board of Directors in the

AGM

Directors Present:

Manuel V. Pangilinan - Chairman

Eulalio B. Austin, Jr. - President and

CEO

Robert C. Nicholson

Oscar J. Hilado

- Independent Director;- Chairman, Audit and Risk

Committee

Eliza Bettina R. Antonino

Wilfredo A. Paras - Independent

Director

Bienvenido E. Laguesma

Barbara Ann C. Migallos -Corporate

Secretary

A.3.11

Did the CEO/Managing

Director/President attend

the most recent AGM?

Yes

A.3.12

Did the chairman of the Audit

Committee attend the most

recent AGM?

Yes

A.3.13

Did the company organise

their most recent AGM in an

easy to reach location?

Yes







NAL.pdf

The AGM of Company was held at

Crowne Plaza Galeria Manila, Ortigas

Avenue corner ADB Avenue, Ortigas

Center, Quezon City, Metro Manila.

http://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdf


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Item

No.


A.3.14Does the company allow for

voting in absentia?Yes




Shareholders were given pertinent

proxy forms a month before the AGM

to allow them to votes for each item in

the agenda.

A.3.15

Did the company vote by poll

(as opposed to by show of

hands) for all resolutions at

the most recent AGM?

Yes




NAL.pdf

ACGR page 83

Voting is conducted by poll for

shareholders attending in person, and

tabulation of proxies for shareholders

represented by proxies.

A.3.16


that it has appointed an

independent party

(scrutineers/inspectors) to

count and/or validate the

votes at the AGM?

Yes




NAL.pdf

ACGR page 83

Company disclosed the appointment of

independent party (e.g., Sycip Gorres

Velayo & Company or SGV & Co.) and

the independent election inspectors

(Messrs. Jose Pepito Zabat and Marc

Bonnie Wong) in the AGM to count

and/or validate votes.

http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf


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Item

No.


A.3.17

Does the company makepublicly available by the next

working day the result of the

votes taken during the most

recent AGM for all

resolutions?

Yes

Co. Website:

http://www.philexmining.com.ph/userfiles/PX%202014

%20Annual%20Stockholders%20Meeting.pdf

Minutes of AGM



NAL.pdf

ACGR page, 82

Voting result are disclosed to the

Philippine Stock Exchange and posted

on the Company’s website immediately

after the meeting.

Voting tabulation prepared by the

Company’s transfer agent (Stock

Transfer Service, Inc.) is attached to the

Minutes of AGM as annex. All voting

results for each agenda are reflected in

the tabulation.

A.3.18

Do companies provide at

least 21 days notice for all

resolutions?

Yes

Co. Website:

http://www.philexmining.com.ph/userfiles/PMC%20Disclosure%20-%202014%20AGM%20schedule.pdf

ACGR page, 80

As early as February 27, 2014, the

Company announced the details of

annual shareholders meeting on June

25, 2014. These are posted on the PSE

website and the Company website.

A.3.19

Does the company provide

the rationale and explanation

for each agenda item which

require shareholders’

approval in the notice of

AGM/circulars and/or the

accompanying statement?

Yes

DIS -20-(Notice of AGM) Details of Agendapage 3-4 of link



The rationale and explanation for each

agenda is attached to the Notice of

AGM

http://www.philexmining.com.ph/userfiles/PX%202014%20Annual%20Stockholders%20Meeting.pdfhttp://www.philexmining.com.ph/userfiles/PX%202014%20Annual%20Stockholders%20Meeting.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Disclosure%20-%202014%20AGM%20schedule.pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Disclosure%20-%202014%20AGM%20schedule.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Disclosure%20-%202014%20AGM%20schedule.pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Disclosure%20-%202014%20AGM%20schedule.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20-%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%202014%20Annual%20Stockholders%20Meeting.pdfhttp://www.philexmining.com.ph/userfiles/PX%202014%20Annual%20Stockholders%20Meeting.pdf


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A.4 Markets for corporate control should be al lowed to function in an eff icient and transparent manner.

Item

No.


A.4.1

In cases of mergers,acquisitions and/or takeovers

requiring shareholders

approval, does the board of

directors/ commissioners of

the offeree company appoint

an independent party to

evaluate the fairness of the

transaction price?

Yes ACGR, page 88

As matter of practice, the Board either designates a committee of

directors or a senior officer to choose an independent consultantand to formulate the objectives and parameters of the study and

the desired end product or deliverable, and evaluate fairness of

terms and conditions.

In cases of mergers and acquisitions, the CEO and the CFO,

together with external financial and technical consultants, prepare

a detailed recommendation for consideration by the Board. An

independent party is named for a specific transaction. In most

transactions considered, an independent adviser is retained.

A.5 The exercise of ownership rights by all shareholders, including institutional investors, should be facilitated.

Item

No.


A.5.1

Is the share ownership by

institutional investors, other

than controlling shareholders,

greater than 5%?

Yes

Website:

http://www.philexmining.com.ph/investor-

relations/shareholder-matters/shareholding-

structure

Annual Report (Glossy) page 86/ page 88 of link

http://www.philexmining.com.ph/userfiles/file/P

hilex%20Annual%20Report%202013/PMC%20AR

%20Reduced.pdf

There are no controlling shareholders. SSS

and PCD Nominee are institutional

investors with share ownership greater

than 5%.

http://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structurehttp://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structurehttp://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structurehttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structurehttp://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structurehttp://www.philexmining.com.ph/investor-relations/shareholder-matters/shareholding-structure


13/66


PART B: EQUITABLE TREATMENT OF SHAREHOLDERS

B.1 Shares and Voting Rights

Item

No.


B.1.1

Do the company's ordinary or

common shares have one vote

for one share?

Yes

Corporation Code, CG Manual, ACGR

CG Manual

http://www.philexmining.com.ph/userfiles/PMC

%20Revised%20CG%20Manual(1).pdf

By Laws

http://www.philexmining.com.ph/userfiles/Amen

ded%20By-Laws(1).pdf

One share is entitled to one vote.

Cumulative voting, which enhances the

ability of minority shareholders in voting

for the election of directors, is allowed.

B.1.2

Where the company has more

than one class of shares, does

the company publicise the

voting rights attached to each

class of shares (e.g. through

the company website /

reports/ the stock exchange/

the regulator's website)?

Yes

Corporation Code, CG Manual

CG Manual

http://www.philexmining.com.ph/userfiles/PMC

%20Revised%20CG%20Manual(1).pdf

By Laws


ded%20By-Laws(1).pdf

The Company has only one class of shares.

Each share has one vote.

http://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/Amended%20By-Laws(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdfhttp://www.philexmining.com.ph/userfiles/PMC%20Revised%20CG%20Manual(1).pdf


14/66


B.2 Notice of AGM

Item

No.


B.2.1

Does each resolution in the

most recent AGM deal with

only one item, i.e., there is no

bundling of several items into

the same resolution?

Yes

DIS -20-(Annex to Notice of AGM of Philex Mining

Corporation - Details of Agenda) page 3-4 of link

http://www.philexmining.com.ph/userfiles/2014

%20Definitive%20Information%20Statement.pdf


http://www.philexmining.com.ph/userfiles/PX%2

0%20Minutes%20AGM%20(June%2025%202014)

%20FINAL.pdf

In the Notice of AGM, a detailed agenda

for each item is presented for resolution in

the AGM. There is no bundling of several

items into the same resolution.

Minutes of the AGM discloses resolution

for each item in the agenda, and there is

likewise no bundling of several items into

the same resolution.

B.2.2

Are the company's notice ofthe most recent AGM/circulars

fully translated into English

and published on the same

date as the local-language

version?

Yes

DIS-20/Notice of AGM



All notices/circulars are written and

published in English language.

B.2.3

Are the profiles of

directors/commissioners ( at

least age, academic

qualification, date of first

appointment, experience, and

directorships in other listed

companies) in seeking

election/re-election included?

Yes

DIS-20/ Notice of AGM Pages 7-9 / pages 11-13 of

link



Director’s profile, professional background

and other material information are

provided in the Company’s DIS, GIS,

Annual Report, etc.

http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/PX%20%20Minutes%20AGM%20(June%2025%202014)%20FINAL.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf


15/66


Item

No.


B.2.4

Are the auditors seeking

appointment/re-appointment

clearly identified?

Yes

DIS-20/ Notice of AGM Page 18/ page 22 of link



External auditors seeking reappointment

are clearly identified.

B.2.5

Has an explanation of the

dividend policy been

provided?

Yes




SEC 17-A Annual Report page 20 / page 22 of link)

http://www.philexmining.com.ph/userfiles/SEC_1

7-A_2013_PMC.pdf

Policy of Company is to declare cash

dividend of up to 25% of the Company’s

core net income should the circumstances

allow for its declaration. Further, the

timing of payment will be within the 30-

day period prescribed under corporate

governance best practices.

B.2.6Is the amount payable for final

dividends disclosed?Yes




SEC 17 A Annual Report - page 32 and 34 of link)

http://www.philexmining.com.ph/userfiles/SEC_1

7-A_2013_PMC.pdf

Dividends payable are disclosed. Dividends

payable amounted to P483.4 million in

2014 compared to P460.7 million in 2013.

The Company declared cash dividends

amounting to P0.05 per share in February

2014, representing regular dividends from

the Company’s core income for the full

year 2013. There were no dividends

declared in 2013.

B.2.7Were the proxy documents

made easily available?Yes




Proxy documents are attached to the

notice / DIS and are easily available to

shareholders.

http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdfhttp://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf


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B.3 Insider trading and abusive self-dealing should be prohibited.

Item

No.


B.3.1

Does the company have

policies and/or rules

prohibiting

directors/commissioners and

employees to benefit from

knowledge which is not

generally available to the

market?

Yes

Amended Policy on Dealings in Company Shares

of Stock


ded%20Policy%20on%20Dealings%20in%20Comp

any%20Shares%20-%20June%2025,%202014.pdf

Code of Business Conduct and Ethics page 4

http://www.philexmining.com.ph/userfiles/code

%20of%20business%20conduct%20and%20ethics.

pdf

This is covered by the Code of Business

Conduct and Ethics and Policy on Dealings

in Company Shares of Stock.

B.3.2

Are the directors /

commissioners required to

report their dealings in

company shares within 3

business days?

Yes

Amended Policy on Dealings in Company Shares

of Stock


ded%20Policy%20on%20Dealings%20in%20Comp

any%20Shares%20-%20June%2025,%202014.pdf

This is covered by the Revised Policy on

Dealings in Company Shares of Stock.

Under the policy, all concerned directors,

officers and/or employees to report to

Compliance Officer all respective dealings

in company shares within two (2) business

days, and for the Company to disclose thesame within three (3) business days from

date of transaction.

http://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdfhttp://www.philexmining.com.ph/userfiles/Amended%20Policy%20on%20Dealings%20in%20Company%20Shares%20-%20June%2025,%202014.pdf


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B.4 Related party transactions by directors and key executives.

Item

No.


B.4.1

Does the company have apolicy requiring directors

/commissioners to disclose

their interest in transactions

and any other conflicts of

interest?

Yes

Related Party Transaction Policyhttp://www.philexmining.com.ph/userfiles/Related

%20Party%20Transaction%20Policy.pdf

Conflict of Interest Policy

http://www.philexmining.com.ph/userfiles/Conflict

%20of%20interest%20Policy.pdf

This is covered by the Conflict of

Interest Policy and Code of Business

Conduct and Ethics.

B.4.2

Does the company have a

policy requiring a committee

of independent directors/

commissioners to review

material/significant RPTs to

determine whether they are in

the best interests of the

company and shareholders?

--

Related Party Transaction Policy

http://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdf

Charter of Corporate Governance Committee

http://www.philexmining.com.ph/userfiles/Corpora

te%20Governance%20Committee%20Charter.pdf

This is covered by Related Party

Transaction Policy. Review is conductedby the Corporate Governance

Committee of the Board of Directors to

ensure that all significant related party

transactions are in the best interest of

the Company and shareholders.

B.4.3


policy requiring board

members(directors/commissioners) to

abstain from participating in

the board discussion on a

particular agenda when they

are conflicted?

Yes

Conflict of Interest Policy page 9

http://www.philexmining.com.ph/userfiles/Conflict

%20of%20interest%20Policy.pdf


Interest Policy and the Code of Business

Conduct and Ethics.

http://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdf


18/66


Item

No.


B.4.4

Does the company have

policies on loans to directors

and commissioners either

forbidding this practice orensuring that they are being

conducted at arm's length

basis and at market rates.

Yes

Conflict of Interest Policy (page 8)

http://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdf


Interest Policy and the Code of BusinessConduct and Ethics.

B.5 Protecting minority shareholders from abusive actions

Item

No.


B.5.1

Were there any RPTs that can

be classified as financial

assistance to entities other

than wholly-owned subsidiary

companies?

Yes


http://www.philexmining.com.ph/userfiles/Related%

20Party%20Transaction%20Policy.pdf

Charter of Corporate Governance Committee

http://www.philexmining.com.ph/userfiles/Corporate

%20Governance%20Committee%20Charter.pdf

B.5.2


that RPTs are conducted in

such a way to ensure that they

are fair and at arms' length?

Yes


http://www.philexmining.com.ph/userfiles/Related%

20Party%20Transaction%20Policy.pdf

This is provided in the Related Party

Transaction Policy to the effect that as

matter of policy, the Company shall at

all times abide by the standard that the

RPT is “fair and at arm’s length”.

http://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Corporate%20Governance%20Committee%20Charter.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Related%20Party%20Transaction%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdf


19/66


PART C: ROLE OF STAKEHOLDERS

C.1 The rights of stakeholders that are established by law or by mutual agreement are to be respected.

Item

No.


C.1.1

Stipulates the existence and

scope of the company's efforts

to address customers'

welfare?

Yes

SEC 17A/ Annual Report (page 6)

http://www.philexmining.com.ph/user

files/SEC_17-A_2013_PMC.pdf

In line with Code of Business Conduct and Ethics,

Company upholds fair and transparent dealings with

customers. Relationship with customers is governed

by long-term contracts.

C.1.2 Explains supplier/contractorselection practice?

Yes

Vendor Relations Policy

http://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relatio

ns%20Policy.pdf

This is covered by the Vendor Relations Policy.

C.1.3

Describes the company's

efforts to ensure that its value

chain is environmentally

friendly or is consistent with

promoting sustainable

development?

Yes

Glossy Annual Report

(Pages 66 -73 / Pages 68-75 of link)


files/file/Philex%20Annual%20Report%

202013/PMC%20AR%20Reduced.pdf

Company’s efforts are geared toward becoming a

socially and environmentally responsible company.

Related activities are discussed in the Company’s

Annual Report.

C.1.4

Elaborates the company's

efforts to interact with the

communities in which they

operate?

Yes

Glossy Annual Report (pages 76-81/

page 76-83 of link)




Community programs are geared toward developing

livelihood and providing for their social, cultural,

educational, health, safety, and environmental

needs. Programs are discussed in the Company’s

Annual Report.

http://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdf


20/66


Item

No.


C.1.5

Describe the company's anti-

corruption programmes and

procedures?

Yes

Code of Business Conduct and Ethics

page 3


files/code%20of%20business%20condu

ct%20and%20ethics.pdf



files/Conflict%20of%20interest%20Poli

cy.pdf

Policy on Gifts, Entertainment and

Sponsored Travels

http://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertai

nment%20and%20Sponsored%20Trave

ls(1).pdf



files/Supplier%20Contractor%20Relatio

ns%20Policy.pdf

Policy of Company is to avoid the direct or indirect

commission of bribery and corruption of

representatives of government or regulators to

facilitate any transaction or gain any perceived or

actual favor or advantage, excluding permissible

additional payments for routine governmental

actions allowed by applicable laws and regulations.

Related policies are as follows: Code of BusinessConduct and Ethics, Conflict of Interest Policy, Policy

on Gifts, Entertainment and Sponsored Travels, and

Vendor Relations Policy.

C.1.6Describes how creditors' rights

are safeguarded?Yes

SEC 17 A page 60;



As matter of policy, the Company upholds the rightsof its creditors by publicly disclosing all material

information, such as earning results and risk

exposures, related to but not limited to loan

covenants. Corporate disclosures, controls and

procedures include periodic reports to major lenders,

such as the latest certified financial statements,

among others.

http://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdf


21/66


Item

No.


Does the company disclose the

activities that it has

undertaken to implement the

above mentioned policies?

C.1.7 Customer health and safety Yes

SEC 17A(page 4)

Page 6 of link



ACGR page 62

As part of commitment to welfare of customers, the

Company representatives and Company customers

meet annually to review and discuss for

improvements the operations and related activities

of preceding year..

C.1.8Supplier/Contractor selectionand criteria

Yes


http://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relatio

ns%20Policy.pdf

Please see policy for details of selection and criteria.

C.1.9Environmentally-friendly value

chainYes

Glossy Annual Report

(Pages 66 -73 / Pages 68-75 of link)




Please see Annual Report for discussion of activities

undertaken by the Company to promote

environmental awareness and to show commitment

for environmental protection.

C.1.10Interaction with the

communitiesYes

Glossy Annual Report (pages 76-81/

page 76-83 of link)




Please see Annual Report for community

development activities.

http://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdfhttp://www.philexmining.com.ph/userfiles/SEC_17-A_2013_PMC.pdf


22/66


Item

No.


C.1.11Anti-corruption programmes

and proceduresYes

Code of Business Conduct and Ethics


files/code%20of%20business%20condu

ct%20and%20ethics.pdf



files/Conflict%20of%20interest%20Poli

cy.pdf

Policy on Gifts, Entertainment and

Sponsored Travels


files/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Trave

ls(1).pdf



files/Supplier%20Contractor%20Relatio

ns%20Policy.pdf

Specific policies of the Company have anti-corruption

programmes and procedures which aims to uphold

the highest professional standards of business

practices, core values and ethics in its business

dealings .

C.1.12 Creditor’s Rights Yes

Glossy Annual Report (pages 46/ page

48 of link)




The Company provides periodic reports to major

creditors, such as certified financial statements

among others.

http://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/file/Philex%20Annual%20Report%202013/PMC%20AR%20Reduced.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Supplier%20Contractor%20Relations%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Travels(1).pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/Conflict%20of%20interest%20Policy.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdfhttp://www.philexmining.com.ph/userfiles/code%20of%20business%20conduct%20and%20ethics.pdf


23/66


Item

No.


C.1.13


separate corporateresponsibility (CR)

report/section or sustainability

report/section?

Yes

Website

http://w

ACGS Round 2014 Self Assessment[1]

Documents

Transcript of ACGS Round 2014 Self Assessment[1]