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EN_Tipco_Annual Report 2014

TIPCO FOODS PUBLIC COMPANY LIMITED PAGE 072/ 073 to the Board of Directors. Activities among subsidiary and associated companies should be held to en-sure that they are aware of aligned action plans. The budgets for the entire food business group should be combined before submission to the Board of Directors of the Company for consideration. Related party transactions must be proposed to the Board of Directors on a quarterly basis through the consideration of the Audit Committee. Job transfers or promotion within the food business group are allowed whereas the work duration shall be counted on a continuous basis. 5. Supervision of Use of Inside Information The Company has developed the policy and regulations prohibiting use of information for personal gain or for trading of shares during one month prior to the disclosure of financial statements to the public. Details of the said policy are as follows: • It is prohibited to seek benefits for oneself or related persons by using non-public information of the organization. • It is prohibited to disclose confidential information to external parties especially competitors. • It is required that the first top 5 executives, directors of the Company and members of the Executive Committee report their trading of shares of the Company to the SEC in strict compliance with the specified regulations. Also, directors of the Company must provide collaboration in not trading shares after the Board of Directors meeting and prior to submission of information to the SET or SEC. Nonetheless, from 2004 onwards, the requirement of reporting of trading of shares of the Company by directors and executives of the corporate secretary for further submission to the SEC has replaced the practice of individual reporting. Also, it is required that the possession of shares by directors and executives in each quarter be reported to gain information of changes in possession of shares of the Company (from 2003 onwards). Punishment Disciplinary warnings or punishments shall be as per the human resources management guidelines of the Company and its subsidiaries. 6. Audit Fee The Audit Committee considers the qualifications and performance of the au-ditors and presented the information to the Board of Directors on an annual basis to support the appointment of auditors and the determination of audit fees which shall be proposed to the shareholders’ meetings for approval. The proposed auditors shall be on the approved auditor list of the Securities and Exchange Commission. In 2014, the remuneration of the auditor included: 1. Audit fee The Company and its subsidiaries paid the audit fee of Baht 2,560,000


EN_Tipco_Annual Report 2014
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