ISOTEAM PERFORMANCE SHARE PLAN (CONT’D)
The ISOTeam PSP is administered by the Remuneration Committee of the Company which has the absolute discretion
to determine persons who will be eligible to participate in the ISOTeam PSP. The ISOTeam PSP shall continue in
operation for a maximum period of 10 years commencing on the date on which the ISOTeam PSP is adopted, provided
that the ISOTeam PSP may continue beyond the above stipulated period with the approval of the shareholders by
ordinary resolution in general meeting and of any relevant authorities which may then be required.
The total number of shares which may be issued or transferred pursuant to the awards granted under the ISOTeam PSP,
when added to (i) the number of shares issued or issuable and/or transferred or transferrable in respect of all awards
granted thereunder; and (ii) all shares issued or issuable and/or transferred or transferrable under any other share
incentive schemes adopted by the Company for the time being in force, shall not exceed 15% of the total issued share
capital of the Company on the day preceding the relevant award date.
Since the commencement of the ISOTeam PSP, the Company has not granted any awards under the ISOTeam PSP.
AUDIT COMMITTEE
The Audit Committee comprises three members, who are all Independent Directors. The members of the Audit
Committee for the financial year are:
Tan Eng Ann (Chairman)
Soh Chun Bin
Ng Kheng Choo
The Audit Committee carried out its functions in accordance with Section 201B(5) of the Act and performed the
following functions:
(a)
reviewing the audit plans of the external auditor and internal auditor, including the results of the external and
internal auditors’ review and evaluation of the system of internal controls of the Group;
(b)
reviewing the annual consolidated financial statements and the external auditor’s report on those financial
statements, and discussing any significant adjustments, major risk areas, changes in accounting policies,
compliance with Singapore Financial Reporting Standards, concerns and issues arising from their audits including
any matters which the auditor may wish to discuss in the absence of management, where necessary, before
submission to the Board for approval;
(c)
reviewing the periodic consolidated financial statements comprising the statement of comprehensive income
and the statement of financial position and such other information required by the Catalist Rules, before
submission to the Board for approval;
(d)
reviewing and discussing with the external and internal auditors, if any, suspected fraud, irregularity or
infringement of any relevant laws, rules and regulations, which has or is likely to have a material impact on the
Group’s operating results or financial position and the management’s response;
(e)
reviewing the co-operation given by the management to the external auditor;
(f)
considering the appointment or re-appointment of the external auditor;
(g)
reviewing and ratifying any interested person transactions falling within the scope of Chapter 9 of the Catalist Rules;
DIRECTORS’ STATEMENT
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ISOTEAM LTD.
ANNUAL REPORT 2016
