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Report of the Directors

DIRECTORS’ SERVICE CONTRACT

Each of the executive directors has entered into a service contract with the Company for a term of 3 years
and such contract shall continue until terminated by either party giving to the other not less than 3 months
notice in writing.

Each of the independent non-executive directors has entered into a service contract with the Company for a
term of 3 years and such contract shall continue until terminated by either party giving to the other not less
than 2 months notice in writing.

BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT

Brief biographical details of directors and senior management are set out on pages 11 and 12.

DIRECTORS’ INTERESTS IN CONTRACTS

No contracts of significance in relation to the Group’s business to which the Company, or any of its
subsidiaries was a party and in which a director of the Company had a material interest, whether directly or
indirectly, subsisted at the end of the year or at any time during the year.

DIRECTORS’ INTEREST IN COMPETING BUSINESS

None of the directors of the Company has an interest in a business which competes or may compete with the
business of the Group.

PERMITTED INDEMNITY PROVISION

Pursuant to the Bye-laws of the Company, Directors shall be indemnified and secured harmless out of
the assets and profits of the Company from and against all actions, costs, charges, losses, damages and
expenses which they shall or may incur or sustain by or by reason of any act done, concurred in or omitted in
or about the execution of their duty.

The Company has arranged Directors’ liability insurance, which provides appropriate insurance cover for the
Directors.

40 ALCO HOLDINGS LIMITED ANNUAL REPORT 2018