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Corporate Governance Report

Corporate Governance Report

CORPORATE GOVERNANCE PRACTICES

The Company has complied with all the applicable code provisions set out in the Corporate Governance
Code and Corporate Governance Report (the “Code”) contained in Appendix 14 to the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) for the 12 months
ended 31st March 2016, except with deviation from code provision A.5.1.

Following the resignation of an independent non-executive director on 17th March 2016, the nomination
committee did not comprise a majority of independent non-executive directors, which deviated from the
code provision A.5.1. After the year end, on 6th April 2016, a new independent non-executive director was
appointed. The deviation was rectified accordingly.

THE BOARD

The Board is responsible for the formulation of the Group’s business and strategic decisions and monitoring
the performances of the management team.

The Board currently comprises five executive directors, namely Mr LEUNG Kai Ching, Kimen, Mr LEUNG
Wai Sing, Wilson, Mr KUOK Kun Man, Mr LEUNG, Jimmy and Mr LIU Lup Man and three independent non-
executive directors, namely Mr LI Wah Ming, Mr LEE Tak Chi and Mr CHEUNG, Johnson (appointed on 6th
April 2016).

Five Board meetings were held during the year ended 31st March 2016. The attendance of each director is
set out as follows:

Members of the Board Attended/Eligible to attend

Executive Directors

Mr LEUNG Kai Ching, Kimen 4/5
Mr LEUNG Wai Sing, Wilson 4/5
Mr KUOK Kun Man 5/5
Mr LEUNG, Jimmy 4/5
Mr LIU Lup Man 5/5

Independent Non-executive Directors

Mr LI Wah Ming 5/5
Mr LAU Wang Yip, Derrick (resigned on 17th March 2016) 5/5
Mr LEE Tak Chi 5/5

The Company has received an annual confirmation of independence from each of the independent non-
executive directors in accordance with rule 3.13 of the Listing Rules. The Board has assessed their
independence and concluded that all independent non-executive directors are independent.

10 ALCO HOLDINGS LIMITED ANNUAL REPORT 2016