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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 2017, except with deviation from code provisions A.5.1 and E.1.2.

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. On 6th April 2016, a new independent non-executive director was appointed. The deviation
was rectified accordingly.

In addition, the chairman of the board had not attended the annual general meeting of the Company on 25th
August 2016, which deviated from code provision E.1.2. The chairman will endeavour to attend all future
annual general meetings of the Company.

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).

Four Board meetings were held during the year ended 31st March 2017. 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 3/4
Mr LEUNG Wai Sing, Wilson 4/4
Mr KUOK Kun Man 4/4
Mr LEUNG, Jimmy 4/4
Mr LIU Lup Man 4/4

Independent Non-executive Directors

Mr LI Wah Ming 4/4
Mr LEE Tak Chi 3/4
Mr CHEUNG, Johnson 4/4

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.

16 ALCO HOLDINGS LIMITED ANNUAL REPORT 2017