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8/21/2019 ACGS Round 2014 Self Assessment[1]
1/66
2014
ASEAN CORPORATE GOVERNANCE SCORECARD ROUND 2014
SELF-ASSESSMENT
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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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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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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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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)
http://www.philexmining.com.ph/userf
iles/Corporate%20Governance%20Man
ual.pdf
Website
http://www.philexmining.com.ph/corp
orate-governance/key-partners/shareholders
By-Laws
http://www.philexmining.com.ph/userf
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.
Question Response Source/Link Comments
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
http://www.philexmining.com.ph/userfiles/2014%20D
efinitive%20Information%20Statement.pdf
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
DIS -20/ Notice of AGM page 23/ page 27 of link
http://www.philexmining.com.ph/userfiles/2014%20Definitive%20Information%20Statement.pdf
Minutes of AGM (page 2)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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
DIS -20/ Notice of AGM page 2/ page 6 of link
http://www.philexmining.com.ph/userfiles/2014%20D
efinitive%20Information%20Statement.pdf
Minutes of AGM (page 8-9)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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.
Question Response Source/Link Comments
A.3.6Do the minutes of the mostrecent AGM record questions
and answers?
Yes
Minutes of AGM (pages 8-9)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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
Minutes of AGM (pages 9-11)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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.
Question Response Source/Link Comments
A.3.9
Does the company disclose
the list of board members
who attended the most
recent AGM?
Yes
Minutes of AGM (page1)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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)
http://www.philexmining.com.ph/userfiles/PX%20-
%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
DIS -20/ Notice of AGM page 2/ page 6 of link
http://www.philexmining.com.ph/userfiles/2014%20D
efinitive%20Information%20Statement.pdf
Minutes of AGM (page 1)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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.
Question Response Source/Link Comments
A.3.14Does the company allow for
voting in absentia?Yes
DIS -20/ Notice of AGM page 2/ page 6 of link
http://www.philexmining.com.ph/userfiles/2014%20D
efinitive%20Information%20Statement.pdf
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
Minutes of AGM (page 2)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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
Does the company disclose
that it has appointed an
independent party
(scrutineers/inspectors) to
count and/or validate the
votes at the AGM?
Yes
Minutes of AGM (page 2)
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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.
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Item
No.
Question Response Source/Link Comments
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
http://www.philexmining.com.ph/userfiles/PX%20-
%20Minutes%20AGM%20(June%2025%202014)%20FI
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
http://www.philexmining.com.ph/userfiles/2014%20D
efinitive%20Information%20Statement.pdf
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.
Question Response Source/Link Comments
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.
Question Response Source/Link Comments
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%.
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PART B: EQUITABLE TREATMENT OF SHAREHOLDERS
B.1 Shares and Voting Rights
Item
No.
Question Response Source/Link Comments
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
http://www.philexmining.com.ph/userfiles/Amen
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
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B.2 Notice of AGM
Item
No.
Question Response Source/Link Comments
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
Minutes of AGM (pages 9-11)
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
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
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
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
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
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Item
No.
Question Response Source/Link Comments
B.2.4
Are the auditors seeking
appointment/re-appointment
clearly identified?
Yes
DIS-20/ Notice of AGM Page 18/ page 22 of link
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
External auditors seeking reappointment
are clearly identified.
B.2.5
Has an explanation of the
dividend policy been
provided?
Yes
DIS-20/ Notice of AGM Page 42/ page 77 of link
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
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
DIS-20/ Notice of AGM Page 7/ page 211 of link
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
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
DIS-20/ Notice of AGM Page 24/ page 28 of link
http://www.philexmining.com.ph/userfiles/2014
%20Definitive%20Information%20Statement.pdf
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.
Question Response Source/Link Comments
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
http://www.philexmining.com.ph/userfiles/Amen
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.
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
http://www.philexmining.com.ph/userfiles/Amen
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.
Question Response Source/Link Comments
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
Does the company have a
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
This is covered by the Conflict of
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
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Item
No.
Question Response Source/Link Comments
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
This is covered by the Conflict of
Interest Policy and the Code of BusinessConduct and Ethics.
B.5 Protecting minority shareholders from abusive actions
Item
No.
Question Response Source/Link Comments
B.5.1
Were there any RPTs that can
be classified as financial
assistance to entities other
than wholly-owned subsidiary
companies?
Yes
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/Corporate
%20Governance%20Committee%20Charter.pdf
B.5.2
Does the company disclose
that RPTs are conducted in
such a way to ensure that they
are fair and at arms' length?
Yes
Related Party Transaction Policy
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
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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.
Question Response Source/Link Comments
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)
http://www.philexmining.com.ph/user
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)
http://www.philexmining.com.ph/user
files/file/Philex%20Annual%20Report%
202013/PMC%20AR%20Reduced.pdf
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
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Item
No.
Question Response Source/Link Comments
C.1.5
Describe the company's anti-
corruption programmes and
procedures?
Yes
Code of Business Conduct and Ethics
page 3
http://www.philexmining.com.ph/user
files/code%20of%20business%20condu
ct%20and%20ethics.pdf
Conflict of Interest Policy
http://www.philexmining.com.ph/user
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
Vendor Relations Policy
http://www.philexmining.com.ph/user
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;
http://www.philexmining.com.ph/user
files/SEC_17-A_2013_PMC.pdf
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
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Item
No.
Question Response Source/Link Comments
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
http://www.philexmining.com.ph/user
files/SEC_17-A_2013_PMC.pdf
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
Vendor Relations Policy
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)
http://www.philexmining.com.ph/user
files/file/Philex%20Annual%20Report%
202013/PMC%20AR%20Reduced.pdf
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)
http://www.philexmining.com.ph/user
files/file/Philex%20Annual%20Report%
202013/PMC%20AR%20Reduced.pdf
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
8/21/2019 ACGS Round 2014 Self Assessment[1]
22/66
18 ASEAN Corporate Governance Scorecard | Philex Mining Corporation
Item
No.
Question Response Source/Link Comments
C.1.11Anti-corruption programmes
and proceduresYes
Code of Business Conduct and Ethics
http://www.philexmining.com.ph/user
files/code%20of%20business%20condu
ct%20and%20ethics.pdf
Conflict of Interest Policy
http://www.philexmining.com.ph/user
files/Conflict%20of%20interest%20Poli
cy.pdf
Policy on Gifts, Entertainment and
Sponsored Travels
http://www.philexmining.com.ph/user
files/Policy%20on%20Gifts%20Entertainment%20and%20Sponsored%20Trave
ls(1).pdf
Vendor Relations Policy
http://www.philexmining.com.ph/user
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)
http://www.philexmining.com.ph/user
files/file/Philex%20Annual%20Report%
202013/PMC%20AR%20Reduced.pdf
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
8/21/2019 ACGS Round 2014 Self Assessment[1]
23/66
19 ASEAN Corporate Governance Scorecard | Philex Mining Corporation
Item
No.
Question Response Source/Link Comments
C.1.13
Does the company have a
separate corporateresponsibility (CR)
report/section or sustainability
report/section?
Yes
Website
http://w