AEiS_CBNcoRPoRltfloN

01Ju1y2013

PHILIPPINE STOCK BXCHANGEr'!]oor lhillppift stdk Erhrnge !b,A)nL ren8b, A)aL Akn@l'.Ialad Aiy

MS. JANET.d ENCARNACION

Atrul CirpoEte GoEmtre R€port for 2012

flese {ind n{hed I copy of ABS CBN Grpo€tion s Amral Gaone Govemmce Repon for 2012.

r,47A.t-aztaALDRIN M.CERBNDOComplilc Oficd for Gponte Goren@e

ABS CBN BROADCI.ST CENIER, SGI E A. ESGUERMAVENUE COR, MOTHER IGNACIA S-T., OUEZON CIIYTEL. NOS.: 1632\ 9244101 . 415'2272

COVERSHf,f,T

f;s"B I F-;;l

SECURITIES AND EXCHANGE COMMISSION

SEC FORM - ACGR

ANNUAL CORPORATE GOVEBNANCE AEP

L Repod 6 F ed ior rhe Yer: ?!12

4. sEc dei n€tion Numb.r: 1@ ,rrt,

6 BIR rar rdedifiction Number. m0 40t751{lx)

7. r$ue/s Te ephone numben ln.ludins aiea cod€: (612! q24-4101

TH

DluL 0 1 ml3

TAELE OF CONTENTS

1) SOARoOf DTRECTOFT{al comporitioi orrhe Boafd..,...-"{b) coedEte Goveman.e Polt.y/ies(.) Neview an d Ap proEl of vrsron and Vtuion... ............. .. ..........,.....,..,,,.,,.,,.,,. ,.,,..,...,,,..,., .,6(d) Dir4to6h rp rn other com pani.s......,,...,.....,.........,......,,.,,.,,.,,.,,.,,.,..,,....,,..,............,,,..,.......6(.) shareholdiq in the company.....

2) CHATRMAN ND cEo..... ........ .. ..3) PTAN FORSUCCESSION Of CEO/MANAGING DIRECTOR/PRESIDENTA4) OTHER EXEC'JTIVE, NON AECUTs) CNANGES rNrHr SoARDoFDtR6I ORENTAION ANDEDU TON P

2t DrssEM NAIoN oFcoDE.........3) coMPrANcE WlrH coDE...... .. .4I RTLCTSD PARTY TRAN5AOION5

{a) Policiesand Prccedu.es...,,-. - -(b) confl .r or rntere*.. .. . ....

5) FAMlI'COMMERCIALANOCON6l ATTFRiTATTVE Drs pUft iESo11fr0 N.................,.. ...................... ... . ..... ..

1) scHEDUrof M€ErNGs. .. ........2) DTAL6O'ANENDANCEOFDIR3) SFPARATFMEmNGoTNoN-EX .,.,,,,.,,,.,,..,..,..,..,...,...,..,254) qUORUM REAUNEMENT...........9 accEssrorNFoRMAroN.......... ..,,.,..,,..,,..,.,,.,,.. ...,..,,,. ,.. 2s

7) cHANGEsrN s(6T|Nc PorcFs.

'''''''''-_-__--2t1) REMUNERATION PROCESS..,. .. .2) REMI]N ERATION POUCY AN O ST3) ACGREGATE REMUNERiT]ON ..,4) smcKR|GF]s,orroNsANDwa9 REMUNERATIONOFMANAGEM

1) NUMBEROF MEMBERS, f UNcIrONsANDRESPoNSr8rUTrES...............,) coMMrrrrr MrMsms .. ... .. .. .3) CHANGESINCOMM TEEMIMB4) WORKDON€ANDISSUESADDREt coMMmEEPRoGMM.............

.,.,,,--,.,,,-,,,.,,.,,,-,-,,,.,,.,,,..,,.,..,"/|01) STATEMENT ON EFFECTLVENESS OF IN1IRNAL CONTROT SYSIIM..,.....4 NTERNAIAUDIT

{a) Role, sop e a nd nre rnal Aud n Fundlon... ............. .. ..............,...,.,,..,,,,..,..,,,,,,.,,.,,...,..,,.,.41(b) Appohrmenvhemryd or hEm(c) Repofr ing Rerdiomhip uith rhea(d) Resisnation, Re{signm€nt and R(e) ProsBs asahi Plans, rssues, trndrryi and

(f) Audit co|trc Poriciesand Prc.ed(g) MechanismsandSafe8uaids...,..,

8. ROIE Ot ttAt(EH0lDEnl.,..,..,....

1I RIGHTTO PARNCPATE ETFECNV2l TREATMEMOF MrNORrn SmCXHOrDrRS............................................

M. r0A*!, DlnEcro&coMMrrlllar'rDcEoaPPiAt9Ar.-.--,.,..,,,-,.,,,,.,N. INft iNAI Bi:ACHE9AND SANcr

l i l

6mphE the kble whh iiromdroi oi the Boad of oneE:

]fuh*3',opi!d'r|eseemphas rhe poliqlB rcl{rw ro th lor the d8ha or mino'ity

fi. Eoq4 n@wr 4aptq4 otu@@t alwhdt @ittuB tud sennnht p@Iity ol tt! conp@y ohd ut tut, b\e acEhatd.E. k stud h d, hhpznr's turEtaf bouot @wnorc th. tuh ttuly d"d rc@rdbfi.r oJ t1. tutd h bhtud n pa*too.hs o switt bM*s, hrtudt s oethEke tor1tun tu@t@ibh lar d.tuini@ rhot the can@r it nd@q.d h 3!.h d @ 6.BR stu 6aL

Ihe shot.hdd$ hM.he rwtu kc.@dnfl o"d tnsptat h\tundnat ob.utesntesdrdshdnrcwdrhe sh6oJth.:hs.hatd,6hdetfi.104th.'!!td,sali^6n tut6dndth?bytows stf(dty 6. tuhdtuR d4ht b hr4 ,E@tu tichb, Net ct h.rdo\ tuhr tu dilid.hdd wttu tt4hE k @ffi ol dk.hrlt4 ttp cwry rh@@nEd oae^.t$las- sEc ord PsE).

(c) How ofien do6 rhe Boaid €kw a

ldl Drrcdo6h p in other comprnis

l0 dretur p h the conp.r* crcupt

ldediry, $ and ir lppltabr., th. mlnbeB or rhe 6mF/s Boaid or DiEdo

tiDdert tu s $d if 4pnBbre, tu menb€c orih. .onprr's s@d of DLdoB wh

0i0 Rerdioship wirhh rhe compaiv and rG Gmup

Ints rhem b sEi n6N .h'eho d.B i 6. .om@y andlor rn iE eoup;

bd or bod 5ds h ods @nP is (

ubsidlads, $roc de $d joht rei&6 ofthe 6mpaiY.

md mhFiier with sendary lkd$) rh3r .i itrdividHL dndr or cEo may hord srnuha&ury? hln other crbrirly liskd smpani6 impo*

bnefly dedibe dhs suid€rins:

(.t shreho di4 in rhe Gmpany

complda the fol owing hbr. on the menb€6 orth..ompanys Bord of Dre

{a) tu dtrere* peEor 6uhe the D

" - - l M E

rhqe h o 6t o! eE.!tue hor e.@. hd ireqenr eeR e ctutu.

tud at/aisaR ptavids ct'uore b rt Bod

{b) Ro 6, k.oudabrrdB and o. i@db 6

Der . . i nd r r l $ . i r a , ' b . r , b i

fte.rokn'a ot.r. tud B ruPffitbktd th. mnq.nat, d2t2bph4t,odthz.fde F{lotme oJrh? M,drd Nvd* @deBLk t.the @D

olth. b6ha t^d dllatu.jthe cMpcry,

h2 channan ot the BaD phr' ondoEnh* at the tuha af ke goDih.ttdiry: p@atotb Jt, d t the.ahdud ht tuotd n4rhq, the 4ntit/,

hfumnan that qoa b be soDllqmtb alrh? Badd @nnttus ond6e hteq,6iT aJth* atuky ||b hdr

e lla.tu en* c t inpbnItdd h 4ihprc@4si devetqnzni ol theBaotd, in.tudin' noutndt 4 dt,tut,

none aJthe tuphy:rch eottdtu d3 dtzre.soo h the atdhory tuM at b6has,ofuy.hatn{contofua'o|eautllzedbl

caan6t4 at dthea1 olk. cmpdq Irte prcp?t

"rd n4,sc4 tu the ttrBdatan

blia tdwry 66ihai A2/.r, e6 thot th.,e:atutu$ ofthe tuD arc dot ep.ned drdtdlied aut and pe&tu on s!.h athet duti5d5 qe hddentb hbh{ alli@. E"/,he

eea.dhq th" b6he$ othe c@ary rh.c@.tundsit$ oI che.ks, dtdtu, at ath*

r* r B fie pariq aJ 6e c@Nnv to hq? a nix aJ x.uttu, non%uttue aBadtd rhert L dso a d.o.d x advisos rhne nenb* ol the turd aJ

e nenbss al the Bactd cnhn4a.

eu nenbzts al6e gad lat a ron'et oly$E tru, thq daodl tuw

.o he th. Pwbnt otd c.o at the .anport. ^s Presiet he caaz*het, pusred aBtc8tu3 dtveRn@tiu ntavo'io6 sut*4t vdt!'6 thar h.tude

Fede,ica M carcio ||6 the P6ident of A8tc3N han sa b 2M. Ptu to his op@ntnst 05 P'6idett, Mt.6?r?dt turbq?t x ABs c4N.

wrh AstcsN r@ 1e6 lp 1e72. He wa' aLa aqdive vte Pc'tu olcMA N?w, he k o re.ipiett o, @iaB

3) ep: i hdw se bord oi dredore pbns ror se sde$ioi d 6e c€o/M,na8iig Dn€dotPftsidmt aid se rop

agotu"tiu, a t thdr 6d? de tudy ,qbffi$B Jot ony kq pa:itians thar oE :!dd*tt vwtud. thehnniry tobk al the us,niotu, and idntitB su(4sa6 otd s,w in

e18!h, c' 4n q qry na6u4 ac?d.d b rt tu.h qop.

4) othstu*urq Non eftdiE dd

uriis d wury ot apdGic aid back

'iAt?Bt ih pEtaetuctinq o s!(eslu

tu dnlnhht 6e th..@P4 L ndn

th. dn.tu6 ort BN6ibLJq dekmhhMstub, Dntu6howthe tuorobe diti@tmd tryttoth.6ryryrh4 nti eftte rhd destee otskin, ditbetudqtr*aawa t Ewdse tn 3trit dtfutuB. Ihgshaul od@othk ded bE h od khh otu h roo4. heli4 thd c deBta wE tcr4 h il.be inkp* ajihe ca6pdhr, A dhet E o frdtiw otthe catupq otu shon"drtuk ddvont'seofth? tu@ry by 6eoB.ttttudtkrr at don

d"d @tdtbt.onfle aJhtrEt ords6dn db6e tuu oDdtoidt thejt ttu*h. ddaE hry"detunowiB ddturetu: t1) Ja.ntutu aJth".anpu,/,

cahpary sutu dnd ttntuq l2) mnFtddt6 ore ih ptd@ qeted tuwotdt Fa€di@the conpdrr': 64 dndtQubtbt B)notuth.rn atu*s 4 nhdorndr Ntitu ond de*iw:(4)lunutob a lMs h, ntu *tdiu at ditu6 md ofrcnt ls) *u*tnt

"tPda ?ty, and 16) E.d F r.r atu t"

prcvid! rh..onp8i/s d.f i tion of ind.pend.mcaddd*cb.th!ompanr's

hdzpetd0e h the atte ol bxd @|emne nans that indqendat diretus @npB. dt E6 ,a* .I tdebnpcnts 3@d * hdndctdt 4 the sEa $trh 'j2 c@dry k nnpntutuhe ca@ry d4M n hdeq*ntdietut * a pe6u othet thon an atrut at enptrye oJ rhe c@ry, t: pondtuinuathaviryo ta.o$hip vtuh rhe c@ry whkh wtd trEt*e wnh dE M2 al hdq?ndd jtdsnen hdryth1 dr h. t@Bhn6 aJ d tuhditidtal Mied lat .hdiat to the saotd 's on ind44d4t dit.tuL As pot dlthts mdtya. ttp wra E*nand Mduds eheth* er.h ,onhe fu indq.detr dhet s.hJbs ke Eqnewns al the a ol6?sEcthecfipdry w)d|'s ohd th? Mohudt dl ca

5) ciaiss h the soiid oi Dne6 (edd E, NoFkEdiE itrd hdep*dent Dircdou)

h) R$igmrion/DBrh/Reno€l

s€L€t oilAppohrment, R*ddoi, Dh

n/:PPohtment, rtr edidr d {G ri4rocsa adopt.d(hdudhs

ir! n€queiq or. edbn) eid se .dEr

An nantrdttd$ tat the eteian

6) odrnbrion.nd Edr*roi Pbs6n

G) Drld6ede J otrhe @mpan!/5 or

.he cwnr'! apldiw,,4iat nc@ned ctu t: b6hazrvhmzht. rht: atuuto\4 Mewe*

Mao$tmd NpMibnN, rhq oe oko tad!.ed r. @ olthen ndu.idry ddis ot d EpaEibikis 6 w.tt I k Bpzd althe B@ 1k dpturtus.

(bl sbre riy in+o6e naiii4 $d *ma olua aE.nded bv o'dB and s

do6: p'oa6N ad smhn aid olid

ohd$ bdefy the .onpan/. pori.r6 o

f&jfrl!'lo@ialidlore.!qii&^d!d

htNtdt. Lrrd statq hE. (tutd unwrtr)Lqol.lwd]d^sio:]mw.iu'3&P|d.dedfuEtlfinon la@4rtu an 3Eh6'4

Fi6t aid ond P.60ot sol.r/ rniriry

E@1ay2, dBrtptih, t pthittt o tine JuMian k tud, cn dtHs t2 dtBdt wnh dE rt:pnbntuy b

ddnthtndtu, hwtiotius Jat viohtio$ oJ .he code ot cddtkt dtu i@ dhdptrc,v dtu eh4

e @s @ttuat by h* h?Jate th4 u?atuntutu/d b@tdhE Jat nzw enptq?6 h 62 cade al co.rud ud ouE. .!t$ tu rt,tutuE al hEca@onyBk4htEu|ino.onp]lohean

Astd@ tn thz dB,nt^dria^ ord hptehtuiu olth. cad. at cudud E th. Erhi6 cfuift. *hhh hraor 6 nd.J+@e hda6. k cnhtft. h.tpt hoke derkllE otd duitu stu^dt k 6* ol p,@t dprttesbdt @ltid, u in wh;crt ne aptqa q ke @ry s6 t5 b @h urhn, JM h ontuteh.r.,

G) hri*aidkdedur6

4 8ai the ede or dhr6 or.oidud been dksemin&d toal drdo€ senior n

3) Dsu$ howrheompaiyrmpremei

D*d be s€.dmp,ir'3 pdrttor :trd p'ftdd is oi reded p,fry r8i.3dioB ib p*d, joi verr!6,

ded fy dy ad@r q prcbabb @d d of hkrd ro {hnh dndortotlierts*

{!) tm d6 uidtrcommon coir'o

sposethidrcn/sibliqtFrenB

l3) itdrekis dirdor ahrioNhip

Nane or sistrirrcant tharcho dss

btueei rrle.onp.ny and/or ib Eblpand rherr dieB, offieB and sirniri@m $dehorde6,

G) nd*, tr .9pri€br., .iy rcadon df: hmitl omns.hl ortndubde€n th. hold.r or sqi rrcit lquity 15* or mrcl, ro rhe *etu $a rhry arc liowi ro rhe.onpdvl

(b) rid .ft, if app habk, any rcradoi or a bmmorcrrr, @rtndult or bcrils ihddtr or li8nifieni equity isx or mod):nd the.ohpq:

G ) i d l . I e a n y 3 h d a h o d d . g r 6 m m b t f u l n 4 h F d o n t h ! . o n t o ' o w i

"^ ftdio &r omd +d t a r bd mnhr/ F i+h b mFld h:iy 6sh6s whd5|d.lfnngMho(lmd4d.emn|tydt!fo@heanosd@funh

demd6esos&3di (r) tk6Mbiid*,, haNsq6ftfi4prynd, f rMlMs{dedfsi f 6ddi )bG of 4o@odrn (did ftr q€ h v

$ea0b ndk) e@d h r h!85 vh ch 6 hd ty, !d66rdftde&c'mha ro & rcmpdk d 'r@rdn a6 hbr {rl I i.Aie r 4 ofrer,r8rr8r or@dre [4 FEoi of, oih 4i{ Grft. d red or hmidrM d a djldF4ldseendibY.h.nee$d

rois n€mkBhrp h iie sooj 13) [s. sdd, i $e *de ofrB ]ds6! b rdsi he/4e b tu mh.e d!.y

n? conpilry hB d4h.d $4 whqdD o @kte dttudr si'tiry diet d he 6rsk1q.d 6 hotiis tufid

of ir@*r'rtd NMituiN md aedia, bnnite'eviM ud zvahtodtie qnnftdtuB, idodng p6'ibh@t4 oJb.et6., aJtu P.M rntMed btu tutddnd ottpt wirdddrhdr tqte b@d @tNL hdehb4 ez Rhi6 cohnitu. faus$ d Mlttdol ituBr.tutu hr r.hke b ndk d.d3b6 Md tutth stutu k.6abtp2 a@t q sot$'torot ftr114

E a En{iw Diipde Re dion

serriry coinic or d tfshrs betue.nsydem adopi€d by the @mpaiy ior the lar

|edbeloreol{thebqiniln3olthey6n

hE BoD n?zdrss dt. h.td thtaqhM rhe y6L rtE twtu nethss 4.tE Boo de hdd Lnnedtob, ofd.hetu&hda$,n?di@ ord on thE tonh tht's,toy xe.tt north. tnoddttiaLrpeci'tstDtu jrs'4eMed,

rteBfueNgouido'€4anbimmd$hrcll l i i f tseed]d*b$Gibd46roqd5d|dtri i | i i : trd

3) oo ioi+x€trre dtdtoB I'aE a r

.) GrhenhinuF quorum re+ireme

Na, A qtann atony alth. 3@ neai,F shon ffiin oJa nojuiv aJ.he 4ti€ Mb%hip otthe B.otd.

G) How mdy d4s ii adsn4 *e bosd paplE ror boed or dirudou merine

Dutih4 . hatirq h, B.tl.

lb) oo b@rd nenb* ha@ independ€

olPdblaReu|fury^!lho|id6

prclrin8 rhe boad .gendr, ta.i ttdiis 16iniq of dhftGi repingdiGdo6updd€d..glld|ruaiy

bd or oLedou {duiq ib ffit Eat ramlol rhe.onpany and th. G$i/s iorrhe.hes.:

fhe conpory ku*q tns the tono||iN duri6 cnd pqo6k itia 11) is't6 td6 tu dn btud ddshu.hatdeE nerhes; (2) a& rhe 3tun1in th? pnpatatn ot ar mn4 dd stuqhs of ndtuidt'/daffirsb dtdql3)hplmtusEhh.kodt addeed by the sond b eJli.iTtty ond tine' klorn od bt4 the Bosatd @thst' 11) otuds qad ndt@ ona toke daw t+e hh!6 4 spqkt drd rcs!tu tuiry alrhe tuord ond rhorchouas; 15) tuker d8e. oJthe spotot sdt otd rwdt l5l ,qN, .caethq vth ttpPBtdar dtt stuk dttudE d s6 tud tunmzB 6 @ @tue s!.h sienotutq snd 17) pn,o6ftpat md Eittn tu.^ on\4 don6 6 oE h.id^t b.h. olft4 at a $@tr t4,Ed al ttzt/tH by the

Y * E . E

etuss wt6 tud ol dttuE ohd kd6ry threuth the oryorrt e .',titffi?Dt oJ th.sn l l cha inoqd i fu fudFpa th .tutd oldltuaE ard indery upe6 h.et 6

7) ch:4e^ ri dhi4 portia

hdt{e, r :pplt$le lny chaqe/5 htbdkd by rhe

he dtqtus en qwtlot htadtttor d tu@ tuthough enrls @d ndt,q'M hDHEd MaE/

u@ tututurbn bJfre nd

rhenx.d nmrh, rcttu16 ort^.

Frca$c. olti!{ datttu b6.

,totiB inQntN. tu abdDq

oa@t tncn&t Fdomonc ot

.xw.d6oN@iosEoJ6.

ur ({) mon h 3h Y ompetu*ed

ois.6e rhe .omBir's @Id on rcnln

oo noeord.E rrs th. oppoduriry r dron {rs, arrow3n.6, bei.is.rc* id aid dss €ho lnetu) d boed d ddoE? pdrd! der ror rh. h* rh@ {3) ts36.

slddiigh$,opliofuaidwarln!

.nbe6 of rh.6npanr'3 sord of DLdrorkktuht,optlonorRai6iEowrrheonFnyr+*e:

{b) Am.idm.is or h..*iv. PqrnspqEru dodced, In. ldlil rh. dltan;ie tubld b rPod durii3 tne tunui

t tun,mdoidfM:fasenenr

dedin/ the flw (5) membeB d naq€nlnr *ho arc ne! * rhe same dme moti€ dirodox and tddiEte rhe106r rcnuieErioi €eiEd d!d4 rhe fin.ndrt @n

Nunbd of Membe6/ rundioB and iBpotrsibitit B

mbd of dh comhJnec rts tuidiopfle/ausority de qed b t bythe kd

G) Prcsronni4 commire

ML rnatu E thz Pt*ide o|d chbl apetdths atuet oJ Lope Hobirst ca@tutbn, H. initiary j.ir?dbpe,saLitsscdptdi$E itschbtFtuhce qfMGFqk keMb 2a$d'd

4 H2 s6 ldh..ly o etuq nd rhe eo .t Bwh. 11 2@1, heptdvd d oitiat and utdrzst t& 6 qo 4 Mqt@ wd@ kni6, kc., ponkdotty tr tnphntrdns xsehobititotian eton. He hdd' o ga.h?tat d1rce tn Eibbnis Jrcn .hAkn& d. Mcnth uhi@jty ond oMed al s[i,a Atlntri:tatin rn ttu sdn? !nb6tc/. He od2nded ke fwnq prcksbndt tu2daPrct6n oJthe tBfiae af cuporct aneoR.

MvkeuMadac'frl]eho'.ceNxke susme drron 1w b 2aa2

)!'tu aJ th, catrt df appeots ftan 1bkhd cerqot ,an 19/3 b 1w. tu oho tusht potiti1t t rkw nd aduhtueEi.l otthe Ph eetr* hn.e. x @ lffi $a b 1e1 H? qrttutd Jhn ttu u.p.c.n s. ot ttu ih1ss7 dnd \|a ddnided to ke PhttpptE Bt h 1e53. tu w6 @.tzn?d on LL M. daz. q hh b|| s.h@t

ttu bo.k ot'd h8 whtu 4v4otont!$ pktktud h tdw tdund.1o'].|l'b|.h.FllFko'4fuMt. ccbh L, chonmn oJthe ton e.!4

t atutt* ru the htunatkMt Fohdcrhr J6 uetus sytu he1eee. 82 w6 .hdtmh ol tuhh opeh.nic a nnb4 at the tuhn* Gt@ ot h@mb ran Mwnhzl

r. wch{ thmpsal cdnpony ttm 1es3chdrndr dtd chi.t &4di!e otJkzt tn lez Be B d f&w af the Aeotim tn itL+ 4 cqwry Ditu'ond rhe trc.tut? aJ cotpa 12art@ te h NErdy o tuetu ot phtdn asobtuhed hB tuthEtat ot kj{e dqre? h 6nmne Ihn De Lo soth cokq

tu o tun E ot tusiE*E6rtu b2qrt. raD k.czrd of R*

he lanowh4 d.thz Bp@sxbiti.b! olthz

a lntEdlEd t6udhrR

Rete rhq pz4ahone of .h? tuNt dtnltuBPevh\9 ond uJnn th. indep.D'taa ol thz tu^dtdib6 by abbhr', td.ha6 hM th.'udib6qPbn.rchlPbefuerfufu

bt tuMt tudbt dnd teg !tu4 t.kw 6e rd4dh n8b d& 'iqarJtu@ b ttu dtu otu h pbd@ b 6e

. Meet sqdtrkt wfr ? en't o

. ENrft thd sienifLad ftdin$ ond 46nmdddo3 hdd. by.h2 *thdt d

. ae.ann?nd, thra@h thz 304 b th. tuLMdqs dtty oeQdt d tu^ot cudhaLrctsted qq fNe yeas u eo iet q th. hondtins ptut ts

. E6!rt thdt th, rtboah Jo' 6. '61ctu, dhntsotat Bdbr ltm:.tue oDd.h. de.hqeJ al

g@mdtgd*kddbl6e6ddddondo6|

rl chaBs n6mmideM.mbe6

1)wo* ooi! aid rsuB tudesedDeqherhewo ddne by blh omnrneeaid $e isnitc rt sus €ddresed dudig rhe yea.

.hd.thecwn,/'@$db

@.6 ttw. w8 ra E?d b dj6tt h. E n ! ne n t b oJ 62 c hd i nh

qtdmsr Fktuetdbb athe

w,n c'.n, ne6re ndd blfuthc|6.Eorertddyrtpb@m,B

JdbwiB uqs: F) wauen43

tutn.nb ord.tl&n4 ota.

F@t tun@.hat al h6ha i:k

he cannk* vas dbE b hnpv

chd t6 dtu ta dlin thct: 11)nqjuit/ att6. canntu n.neRdtz kbp@d.r. difttu; 12) tho..h. co@q's ddhedlhoktd

dnd rcrrdbitity aJth. intuMt rcntotead@nenr F) hd2p6d?re dd

qudtudbE, haqqdete ood

rc tu w di t h e c a n po nt/s, no n m t r&sdry b rdtry ad th. oudr dat

ond t4) d. oudr Epoa, hddhs

ftonewo*. rhe bhnn@e endat

4deqv k,nubr6 @d brsin*s

nininh., t not etinin k, su.h tkk.

etddte, tb id.hti, ond 6s*,

rannunly'cPaat@odoMath.l

ftanewatk oddesa the need b6wt att 6p* al 6k aoas thacahqnr's qqodzdrbr dnd r@v

ewhdbd the qudti@ri@s aJ ot

ebdbr t repta.?h1n aldietu

tht an, qucrtud hdviduak ote

ra rcvbw rhpensitiar af ky

ro rcvew crd dw6re, tt r.dsd\,bqet'B otthe conDotr's cEo a,. d

b.n lis wvded tu the canpmr's

. Rrlbw th. E6awd44s alth?cm Fd nt/ \ th d r dr t tu P n e n6dhd 1freieoq ofthe linnddr

ef,Edtu4a of the 6npd4\

' Reelie rcparthq atsiriJtdht

tu sisniJi.ont hs!4 rchtks bthecdhpoa,|'gqwaqrc?,apldb'lhdhriat t?pdins, htqnot tuak,bgd'@Pkn.eolddh!nade6thdnqbenB?db'thEcmpbry.

lal overu tukmanassertph o5ophyof re.onp:iyl

ne Bao ond nnoeq.,t o,e nirdlur ot h? @fthtid hNd at wb6 'ists b $e bNry\ cb it, toddtus 4udti, rcnknt oms nuttiph erdttoths and @nyquen L cs a esutt aJ ia q*dtkht tdtuE ta

ory wir @b!u, 4iotuh dnd tnptenancaenent ,tanewan thot @|c6 a| 6petu ol Bk doss n\ qqotuotioo, ond iryoe n5 'kL

kJ Psrod.oreredbyhereieej

(d) Howonen0e di maiagemed n

Fnr's dsr na:semert poriq, krins dur aid as6hgrhe rsvi.ovsed bv 6e 3ynen hiked {codtu ro pdonly), dois {Lh the objed vd br

rhe hn@rr's ryrebthe6kJatchnqahn zrhdst

.onponr's debt ahIqdtuB ||fth

hdhdqe thi' ntu k o .e..tt.kntnorns, n B 6? conptur'5 Patiq

t6frecnpol'/sparqben@|

mrd4E latdqr Mteret i5k ondetinkae the wiadtny oJ 6hfla$ due b .\d@a ih rh? Jtu

dqfudeddebtwthnoturi.'

nhdd@ ddutia. onnzuzdh

tkorvhs qatuiti$,6 a eswd

co6pai/snnadd rin,unents

r 3& fo,ersn drei4 fti, dedh

tMnidt fttitdions bltut hy df

speatrdrl 1dideE the notutittaJ bo6 62 tuanciothwin?raoad fncncid asa' tud $djd.d

aeutorty satuoEs hs pt.jded

gelerclfulEMhbdbneshauld

srcn rne ta.ahpztdt tot twonolths oJ aqotiaaot .n42r.i4dhir.t o46ianot ttntuddh al

4lnenenB ?hhq de.eos. ol

juads k th. nu4 nd*zt,tywhen th{e drc supt66 ran i3

G ve a sere€r denipr oi or th€ crcud d dssins ihe I jV! .@rcdby ihe 'yrem {Gired adddhs b p. ori'yt do4 wiih ihe obledre beh id rhe

sdert dBcirbc the.onhr sFratu !d dn bue^ raed by iho

ain ksu4s r.ed by rh!

d6fr ry $. .onmid* or :ny dher bodth*.oitm|medanlft,ridgl€dd.|koflBruidMl:

FI *p ri i@ ths inbrd ortd sFt

ttudnt tutob ote ptagzr otd Nrhodaht6 ecfi$ed cnd bphnetud b! mr@dr 6.f.evty nm4 n:k r tun 6n dd\h€nqt .J B b"ire$ obt 6t!6 2ndwstry .h.

tnmet cnd q.ttuBt thJdntu, efrdtua drd 4lhbrq .t ap4tbb6, el.qtddl@ dJ B* dtu.anplidr..with|06|rylofuuldM@'

lbl A *em.nt th* rhe dLedor hr

(e) wrr€rd no @is ws cordld.d du

l.) Rorq s.ope 3nd hEmdtudri F!i.don

^e lAtuta@dpq.451l

thz B.ord, thbuqh rh" Au'1tt cmnite4 evie6 ntu odequo.y hd ?tetwms q b2 h.nd @tulsttun enhnp$ths .h. cakN 's @monq opdri$t irlo@lor ,turc, b t,.ltid. Etdw drdhtqri al lmtut ard @qd.iord hJ'ttuiaL ei.dtMx drd.frdErq d.@.hDt sdtsNdtdt9 oJ6e, otu unvume vtth k*, tut6, t suldtkE ot t etttu. the 2at2 mot @e tuhnttud hr rhe

*he kMt ffidarttu is 4tidi@ nd odwod

6tu1' hrbdtDs rhe M@$dry ffiedie adk$ d he loutiB o w hd dddturd nedkqt dte @yeaed il ww. ci^cat bu5h6 op*onon m Gvhw.d2m!c1' wh,te the Er bl th. d6 o.e

lu tt[ Ptcksio t Ptu al tr@d aldhins lPtahpht6l1nhe arnd nnodct 5@netu uquotkn thmth th.

etuncnrdEperden dodro. 6udr tM the @tinud ol k. otn k k envtiince wi6 rhe Phihi,ptn.Eb|aqd@fuDd.|ds6@qloe

lb) Do rh. appoi nihert ai d/or r€mvat ofthe ntln.t tuditor or rhe adou fting /auditins firn or slpontion bwhi.h th. iitehalaudit tlndion ir ou@rced l4uiro rhe appda of the audit @mmire?

rhe Adh hmtfu @tM ee hnidowh.mht ond tentndtbn ol th. chbt trturdt audi@. rhrcannttte oho opFtM orrturtthe natfnc @!nmd! oJthe lnEmt ^udh Mi6

lcJ DGd$theiitema audib/s rcpondid lnd litunded .cgs ro ihe boad of didoB and rhe :udit ffimihee and b aI ,Md., prepdi6

he chi.f tn@rot Auditat rrytu turdb"oa 6 he tucd, thdqh th. audit cmitu?. H. hcs fte dndh@dd orc' ro th? tutd thtqh an duiotued tLlt, tt2nd urenied dn*t b @ hd an atthe@@on/s tnds, etr!@t ptup.tt6Itrykq aut th* oudit Ibdbr' rhz cM ttundt arditdr @nfnns ta the Aldh cffihE?, ar dr onnuotMi, he qsonhatuMt kdep?ndz@otttE tn4tndt drn odukt.

ld) Rdrsidron, Reisbnmeit and RE$B

D$GeryEbndb'loleas|3nnedo'the|ema|auditftffl i idudinstp:ny auditi4 fiml :id rha r@i/s ror them.

G) PqE$4ain*Pd5, $E firdi

ri* phtu, sstrifioad irsu6, t4nmed

rine darionrhrp amonr prc.Bi phiqcr.9hthh6€se6bwqneFbtsrtp&dt|6|

r) Prupai*bi or ai audit pkn id, ) cdidud or 4 mindon bs.d oi rhe Dlan:r) tv€ !{ioi or rhe pqBi h rhe inplened.don ofdre p air

'Hdhgjtr.s$vft&Md!bjsUdee@hFit/3F|dsiid.uk

. kMEef t@v lhnaw ikpo | i . i aa rd

. hodeqht nontuhs ottwdirc.

. Ned Jot sFGh cfr0r.@a6 drd upy.d6,

.lrcdeqldEphyshlir@rbq'wfuha$nc

. h@eet oppttu bn oJ tuh du. toagdtuatiuot .ho@ toEJ4 al tutuiors

a oeed tu o stinua$ ahren4t ol,nens otu hPrcwnent at @ bddo46rhofiih|beaobJ.fu8old

5) Decmindioi of the persiv€ isu* and6!lt and/or yea,ro yed 6uhsl

A condud ol rhe toftsoins pceduH on

0 rudit cortd Pori.ie, and P.oadu.a

findriss l'aahii*ion redrl bsed oi stryLe y6l

b c h e d b Y t h e 6 m F i y a n d

l, M€.han*ms aid s,feeuads

sbt€th€mdhanismeiab|ishedbyth3iatn,, hvetnen bsnk aid dhs 4ei.ls lesnplq Etddioro on tndlnc in the enprr'! $16 aid

qemd.udror m4 p6ide ro dE 6mpaiy):

,. PtoF*bnot drd oQmt&ttonol,., F4o*Mftia ot t*nd audibts

2.4 stdnddrds tu uE Pnl$ioEt Ptu aJ

2.5 s6rtu& kt trtuhrtu rsbns audt

1- amotonti tudt.sk Phhriq

4'3'1P|aaMoqi4/wdkth|fu4h4.3.' aetirhe 6e k Pqutaton

43' M.thads dtc@dudhs Fietd|9uk.35 rininq4aatiat aJ Fie|twk4.3.6 0s. olatdt tundrd brous.

t3 kEt@pks oJ w&kirl P6peE

1) D arose rhe @nF43 poiry md:

{rr) srate the offi.ef {prcfeEbry rhe chanmai ard rh€ cEo) *ho wi I h&e b dd to ti€ compar/s rurl

od!.duE8m:ndaEdby

Mr Euse^tt L Lryz ttt (chonnot althe gba)k. Ma. Paddo s0n6-c6.io tPtuidett, chi{etuiteofrdr did cht46ndt af@)Mt. Atddn M c*rtdo lchitl FhoM alf@ ud cqndhrcottrea

ld*b*k3,p.6ondrcbd€!dla|y

,qdi'vatqraatwd@tM

dB@t oJ b6..d tdnw 6.d dtod 6edaP& btun4 6aM

dM Mecr w8k bnnotAd)

otrr heodqudBs tr tu@fit s

tffiv4 rtititi* tu st'd NtuMosn.at'fri'\Bulslrdowqe ntudtan ot2s tuE p4

rcdR ili'i ||Eh fim te,ndpldfitfukqsmdkeAdthquanh fetitiE, E lsed Jat ptonG

" d6 i snz d fq th e 4v r a r nnt:

n@ h idd est d,to b h ) vhhh nd k4

wetore aqan,diat ered byth?

Fidtt ottte chih,,6patds b

prcnd@ "sosp kdNhird" BIrhtued tr rckJwana$ rndrchd6fitdrion otrq c natuntal

envnannat to e6qz ?llndtu,n'nqqat ofthe @hnu^Nddl Mp|bn.. b @nE, ru16

pdhtn shaadh6, hau.Md.t6ur6 otd lF oI3itu\|dtB 6

aabll3hfr4tdft'lbhifud,|

u"detB hde alcndtL1ttu

.ryn /s Junds ond yaeed keonettued drollm Fdtueb

ajJdse cohpdqp?M^dvb

,ard dn he .hdtdEd dhtrdny

th. conpony shcn.Met tu tudebt erytht re40trtn,h6 at 6e

reqrrcner6 ajih? jdbrc ve.nehfu'afurce'hdsfuhfudon

crcdha drc reqlb$dided

hhndtur dbtth,d@ry

QBen al ftdbts b adeRe

.o|nte| potks ta Pna|2/nadj,

4 Do*se@mp.nyhdeas€o'derdrpocreresposibiritytcR)rcpod^edionor$sah:biritrcpon^dioi?

3l Pedorman.e enh:miry m4h:dsm

k) whar ee rhe bmpaiyr poricy for i'r emp oye6 3.fety, h.jth, aid weti;rc?

(b) show dda rcbt i3 ro heatih, $rery and wfarc o, $ .mploFs.

ptqturc tu th..nptq* dft @d ofnE nondd2 rhd rcsa lpon Lh Hh opqdimslor hpttuion. rhse ttu pbqhn' wDdded by the @ntnt oao n6e

h. sotetu ath. ca@onr's BeE lr. peopE, FeBtu irtqtuial ond@!tddd), b $rearial tu nE bq @k tuMs ofth. husha' swiu dnd stErr olthee M deth4E6. ot pffinturt

sctet phs@, ptdi,tu ot d odl'418.Atbh.d wirhthe cnphr/s nMr otbdtg hth. wia olke F tpjE,th. tunpdnrtok6 this nktn b he4tot@e.b tEw a\|n.K@dnt L' bw4I.@. rebllda65dfuebk|@]d|Ad||k

. Mdt@t 6unrcoththe hnp@r''@.dibd Hro pwidet ho nhdctd b.n?htutonceut Enptoy$ itdudhs Ei

' he canpory h6 0 faae beneltu ercsrcn @dbd) lt E ftqttu npr6y26whzeh dow.* td nedtut, apn@L ,iednhd atzhhq in t"@ onah8 d hketatn otfilchN dI@k? t n diqtth\utue @ckoee l$ I'd, i'ebe6

. th. cdwny h4 nedkd clrtEwhi:h waB u/7 h b ,,fiBa. rh* dlbdrc ho^Ed bi/ wenr rcqinled dda

hntt tutire, putMt't tutd.,oqwetoey ord nlntun.

. I\e ontuot phvi1tMn dNlJaroettu @Nuttortontae$4tq,2orcdaQr E,ckh frd w?nna Fdr,.'o6a6

@ryoie$ ot t4!bt, @dlded tp iK,@E "nptqe6

tutur @6da6n4r snd

. ca tdotbhaaebdsi.tupdiarclKE tdd h.dhhttukssddorhet

. c@dudoJsal4y t'Eed6 ard 45kansn't atwh6tuprytdthiA,r conpkrt.6.h. ptu ottk c4oo/s Harh c.d tuh.y contu' cohpthn.b ttu Fr. hd. ln4tbtk ad e514) thtNshth? endd ottn. md. cohttbre bthe @Nnn* at Lcbar d herarhals enrptud hl4 o,n. Rqhntbr v6 6. tutortnfl al bhq @d Enprqn4t - tuEtu al wtut

. cfiEthna tu rhe ponq atthe Depanne"t ot t'b@ oM anpbne,t-Buedr alwotkhs co'dt iast+dn\e conpry shaltd at tee haz Me aued edMJet

r t4bn.ntutbD ot Mrrtdat:dl.v Fta$dhi' Reqfu| drd h!2|d phq,h.fr,l6't* u..fuied Nlfure ln k.44t a'

Mtuot atrnM. k th. @s. oJ"Ho,aNf6@d4 zdzndd thz hnox4@ tnan.tot Ekto^e

r n8e vm 6s bse|en5t chiN tud.d b z@tqg onontins bPhPll t

14 n#aa@Tm/!trainiB'nddru

itrEwFo|nulfu'lnpbmr$ddhdfufrfug

rcw*. eunpks oJ +ku @ eu# ot. P4f6noM ^1an@4t $4 urdntut di@ N ndbq,bhv qiabtu wakptoesolev FiNnciot stua tud Rdti6 drd tiJat@.tu tunl

ldl srd! trre conFiyt s.d/@mpenetioi p irythd eoud ror th. pedo

,, etut e44 Pcrhnffi rc6w6 cMPcnY ottuE ctunpbyes ae o@ wtotu w @ an th. tud ntutut ,@rtMd oJatutd.nptrye\ tttutpt pqJamoE @rcbol

al wh:t rrc the .onFys prcedu€ tor h.ndris @mplrit by enPloFs .onenhg rllasal 0mldrn8o.rupronJ rid uidhrr beheviof? h

fh9 khidbntowk, @nq,Lhidi h M h ftsnnot tupXEview dd dprtMlby tut nmcenat ptNtd8ld dnd ehhlnad mpk E md dh.B b qo4 h @d toftL ary warstl ffidrd Mhiked by

ErstEehs.n P4tMdM sltteh

4lptoys whkh rhey bd€ psonat knowbdse ot th. potiq $x asure Enptar6 ot Naddi@ qoietoBned, threot did My oth,lum ol tudkthr tun the Fmn/s E\nea.

fh. pottc, thot w os o .te sbtenert thot if dD! vonodairs q ony ot conpdry .nptay.6 E tdatfred"4d

zeeed o@di@t, kvn b. d6hwith,thtouoh b@hdbh oft|otw in$ntu aJoturdb,thy.

e 3ry ol the abovc, p sse indt{e t

rtu c@i/' \'his.t btawht porq B tumd, lh th2 Jitut 3b@ ot trytow ohd dppd hy n4

rh down the rode/: of ommmr{bi

he cwny turnkdta ihtundtb thuth t! tua6 lerotuB w*hq p

thz ra1, ouribd tMtbl rcead.

rd6nhodtyidehddeEanddherna*ehode6?

te in tuiuatsp* d srdcbordst Medin8s

.oNene the anrustspK ar srockho de

^tukhotdd nortffildth. dpptovd 4*Mded by ctdiq s@rhddq.

rj* rny sdrhdld. ' Rrchb encaniB Annul/sp*rar sro.knorde6, Medig

mnmuitd. didt *i!h rhe chrrmi of rhe bd indMd@r did6 0r hd

p6ar5 d nft|lnorded nedhg'

AI ol th. ob.ve tahd rhe oqavdt al 3hdt2hotd2t sh'€tuB 6t m

a D*e of sendi4 od nd.6: Mor 14 2rJ2

b. he d 6e Aiila ap€. arsrddhotddt tt 6 ^s ih.2t 20!2dr is th! tunui/spkbl sb.khord.R M.*iig.

mtut 6pefuotde6,MedrtL

5. iBu ' or amu ap{br$ftrh.rde

tr)l) Dd: h or aneloanc r .he Annur/s

14, rhbosh the sb&td$fet olle

{r iJ Dohebmpan/lonnonlha6c 6e and dvc rc$ro ror aiy.onpany h8 moft th:i oi. d8 df +aE, ds.dbe ina @h3

nnud^pdd $dsddeB'

0D tus se ompriy .ppoint ai iideeendeit pany (hpedoB) ro ourt adlor 6rd& r5e sE d iie

nde the.ompaiys porrbs aid ptucedD€i d.3.ndhg of idt 16 or annu:ts

Mrk5 b mbusptbt i&turdn neah|n.con@r,hdq tua6 oniq &qlErte5tu.khatdqt n@nrs h@ at hvturtaD\jhit th. ratkronttu dsent frds M 6.

{') oeni d€ ibmdo'sbkm€trd

knoi hdarcd€i.€orpu* trytct 6 spatct nett^t ol tukhrrd*' U o d!, M@dptarl. tudi$th@ld he k,ttg, qop.4t 'tsred ott

1P wttu F4 star *wd wrn 6e onu otapca@ttu edtury olthe cwry nd ta@ kh 106hndtdq'pfulbrhesdedlhdsfu.khald.Endl'E'

0l DoB rhe Nd.e o! tundr^re. ars

Pmir6 or dircdots (d .d 4q quarififtd .omDmi6) nohhdd rbr

Angphn*Ioid6edMdeidpo|lq|f

shou|danyofthelorcgoingiiidimdion

2) rrcdmdr d Minor rysb.rhordar

ta) shta 6e @npd/5 poridg wrh rc

{b) b rriod! 4o.6ordeB hav. r d.

dn6 de dmPnyr *.m.r aid hr*d3.rdewho@.8andapposm:jor.omp yannoumsenb. rdedrtrhe6ponsibi|ity,'ilhsbeenssignedloacomnite,

b o ptut/ ttud @@tut@ th, cdpq E suqe tu rcpei@ rt@taerc pt*Md by 4lb6ryddhatti4 hdtdks .h. sEc dM th. Ps4 ms atin rhe hnadry b @nattdti k njdrt thtElr

rd dEcbu.Jlirc @tud bttu sK hd e *

cmqhfs lnv6tu Reldihs 6rcup hatds ftaub ahdlt t and esbtrlhss 6ttu?n with its qwtuty md nnudt rtpM skhL\bB thd tvnhhire*ldtDE 6e canpanls qentins peianma dnd tudaridt drdnbh rhd rtafti tu2 c pdtra chi4Fkote olfic{, H?od X rtarq dd B tud bl hvetu. tutuE 6e tu'F pcan tu 6sp kwlat. ondty+ond q65 b,hnn6 b oddtns dny qlm @r's ap*atins otdJkm.iot

tr dddh6, 6e cwnr's chpt tuanre aln.4, ,tud bt tQ6ry @d ts Hsd 'Jreprsentdi$ ot iEntutundt h@stus aad hvenet tuDe !p@ Ec!6t otd d wia6 kEtu cat etesthrcushae the y?ot lot nate intinaft cJinon.iot t*dB, bBiras p6pds and hnst*n ptoE t@uhin tnn ksrtrttud bl Esub' or et.dtant noirot. aho drtr dhowhdqd drd ddtn*d h d rheN dflt tospmnt

tih3 w4.tu 6d @toh5 tafqndidsaotd at DtktB and nbr nanqseneni epcutto*, tuoEbt htanonat ond EpoB oad dhd6u6 fted wfthh, ic d^d rh" Ps., shue pke peiun tuns .otud i&mo.i@.

ndy 6e lorhd d htpf/j! de dr.nh

wrrs'aethemnpanysiua:id pde

tha!4h such ptblh#tid wd' ndt Erduqh, rhecoiphr wdr. b dt{tt @.h auttu every fdhir: to bttu thslhane, b afurt h" w?tJdrt alhz.htut?r, b fuotu? ttueih@'t, b uprhrhei eannai, ohd the ?^rturnerl

frp AsqBN Fa!tuntu.lrc lAFt) \|o' oed k 14e. ttuob, n ddened 6e pti4ht al.he d^qtuftosedt h r c l g h f u P d t d \ L i o g h d B q o o * g n e t h e h o l d . @ n n u n i t l b u i f u |

,) Dadbese.onp,nr'i hvsFr re

Gs teephore,raraid emd0orsedfii

ro Fovd? an alanotion requircNt$ a, kv6b6.6 aJ inw.as aE ner

rhz ch'pray lut, Eped5 5hqdatdd tbreetutry ond k@t reqnneo' thd Entue chd due lhor

prcpq ra nanan ol @rqat needn@ o'd p.avi'ian oJddeqtdE, td$@6t drd th?t, irfdnd

,anthetu 6sitr ed@tun pdekde6. Re.ent,the prcqonwnrRd into tunkttunahontenath dptustrn @tted 6.nh. are afthe lhaak

srntdt sitd , d 6td pnbdkn qod wetlore qqoondbn cited by 6. uDted Ndb6 tanve*bo an the hiqht aJthe chtd, has tspdrded b rho6and5 x hdthe @tB qnd h6 hqndhd hund?e d,aQ it qtdnkd {hdu5r!6 b aEr 4@ prpik Botq tutur ftediry @nn h 2012 h6 hehed d.hhrtnomotnotuih latu' up to atet e0% aJ the bEretuidtb'.

hltuenPd the @soqe at the .tsn Ai a

Aroket AP prcqrcn lu the eNnonnen B the Kdpit skiq Pun sa tht ,6tq. k h6 sue$futt <hnd @dhdihtuih?d sdh. al th. hdh 6ttd3 drhe tLo ts@. rhe hlathdt tudh6 dbnq de bdnk aJth. P6i, niq

@tbd Eaymijun e.dqun. rvery Ba@riludr sne tuhss tqeth.t theella4 al eavmnent aqn.d, NGos, qi1c etut ot't AecBN to hati"k'tty de|2hp tuidihdseannunrks tu@tly enpteftd poje.$ htude the bnphtnn ol a t4tuq traat butdirs, tuilttur al o

da@et ofo Pubti. no'kd

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