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GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
CORPORATE GOVERNANCE REPORT
OTHER CORPORATE GOVERNANCE MATTERS
Dealing in Securities
(Listing Manual Rule 1207 (19))
The Company has adopted and complied with the best practices on dealings in securities.
Directors and senior executives of the Group are advised not to deal in the Company’s shares on short-term considerations
or when they are in possession of unpublished price-sensitive information. They are also reminded regularly not to deal in
the Company’s shares during the period commencing two weeks before the announcement of the Group’s interim results
and one month before the announcement of the Group’s annual results and ending on the date of announcement of those
results. Such reminders include a computer generated email sent to all directors and senior executives on a quarterly basis.
Directors and senior executives are required to report to the company secretary whenever they deal in the Company’s shares.
The company secretary assists the RMAC and the Board in monitoring such share transactions and making the necessary
announcements. Directors and senior executives are also reminded to be mindful of the laws on insider trading and to ensure
that their dealings in securities do not contravene the laws on insider trading as determined by the Securities and Futures
Act, the Companies Act and other appropriate regulatory authorities.
“Directors and senior executives” include the following classes of employees:
(1)
All officers and directors;
(2)
All sales managers and those sales employees managing the independent dealers and brokers who sell the Group’s
yachts;
(3)
All significant participants in the financial consolidation process;
(4)
Others with significant management responsibility whose decisions can materially impact the Company’s financial
results; and
(5)
Certain administrative personnel who assist both the Company’s Chief Financial Officer and Company Secretary in
preparing all public announcements and materials distributed to the Board of Directors.
