CORPORATE GOVERNANCE REPORT 132 Annual Report 2025 The Company’s Executive Director and key management personnel have been assessed against performance targets set based on the average of the Company’s closing market prices of shares over a consecutive period of five market days in which transaction of the shares were to be recorded and achieved over a set time period. The Independent and Non-Independent Non-Executive Directors receive Directors’ fees based on their responsibilities, effort and time spent. The Directors’ fees are recommended by the RC and endorsed by the Board for approval by the shareholders of the Company at the AGM. Contractual Provisions The present Service Agreements do not include contractual provisions to allow the Company to reclaim incentive components of remuneration from the Executive Director and key management personnel in exceptional circumstances of misstatement of financial results, or of misconduct resulting in financial loss to the Company. The Company will consider to include this provision for future new service agreements and renewal of service agreements, if appropriate. However, the Company has included in the terms of the Rex International Performance Share Plan, allowance for the Company to cancel the share awards before the date of the vesting of the awards, in the event of misconduct, at its discretion. The Company has also included in the terms of the Rex International Employee Share Option Scheme, to allow for the share option committee to cancel unexercised options in the event of misconduct, at its discretion. 7.3 The Company believes that the remuneration for its Directors is appropriate to attract, retain and motivate them to provide good stewardship of the Company and key management personnel to successfully manage the Company for the long term. Disclosure on Remuneration Principle 8 The company is transparent on its remuneration policies, level and mix of remuneration, the procedure for setting remuneration, and the relationships between remuneration, performance and value creation. 8.1 Directors and CEO’s Remuneration 8.1 (a) The Company’s remuneration policy is one that seeks to attract, retain and motivate talent to achieve the Company’s business vision and create sustainable value for its stakeholders. The policy articulates to staff the link that total compensation has to the achievement of organisational and individual performance objectives, and benchmarked against relevant and comparative compensation in the market.
RkJQdWJsaXNoZXIy NTM2MDQ5