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Wellex

Industries Incorporated

Audit Committee

The Audit Committee is composed of at least three (3) members of the Board, one (1) of whom shall be an independent director. Each member has an adequate understanding at least or competence at most of the Company’s financial management systems and environment.  

Corporate Governance Committee

The Corporate Governance Committee is appointed by the Board of Directors to develop and recommend policies regarding corporate governance and to advise the Board with respect to director compensation, guidelines for corporate governance, assists the Board in its periodic review of the performance of the Board and each of the Committees of the Board, oversee risks and initiatives not addressed by other committees of the Board, etc.

Executive Committee

The Executive Committee composed of at least (3) directors. Said committee may act, by majority vote of all its members, on such specific matters within the competence of the board, as may be delegated to it in the bylaws or by majority vote of the board, except with respect to the: (a) approval of any action for which shareholders’ approval is also required; (b) filling of vacancies in the board; (c) amendment or repeal of bylaws or the adoption of new bylaws; (d) amendment or repeal of any resolution of the board which by its express terms is not amendable or repealable; and (e) distribution of cash dividends to the shareholders. The board of directors may create special committees of temporary or permanent nature and determine the members’ term, composition, compensation, powers, and responsibilities.

Risk Management Committee

The Risk Management Committee is composed of at least three members, majority of whom should be independent directors, including the Chairman. They should be responsible for the oversight of a company’s Enterprise Risk Management system to ensure its functionality and effectiveness.

   

Nomination Committee

The Nomination Committee which is composed of at least three (3) members and one of whom is an independent director, reviews and evaluates the qualifications of all persons nominated to the Board and other appointments that require Board approval, and assesses the effectiveness of the Board’s processes and procedures in the election or replacement of directors.

Related Party  Transactions Committee

The Related Party Transaction Committee is composed of at least three (3) members and one of whom is an independent director, which is tasked with reviewing all material related party transactions of the company.

Compensation Committee

The Compensation Committee which is composed of at least three (3) members and one of whom is an independent director establishes a formal and transparent procedure for developing a policy on remuneration of directors and officers to ensure that their compensation is consistent with the corporation’s culture, strategy and the business environment in which it operates.

Telephone : (632) 706-7888

Facsimile  : (632) 706-5982

                    (632) 706-5980

E-mail:   info@wellexindustries.com

WELLEX INDUSTRIES INC.

35th Floor, One Corporate Center

Julia Vargas Ave. corner Meralco Ave.

Ortigas Center, Pasig City, Philippines 1605