Page 47 - SAR141018_Forterra AR 2013

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FORTERRA
ANNUAL REPORT 2013
CORPORATE GOVERNANCE
REPORT
45
The UOSC comprises Dr. Tan (the Chairman), Mr. Yoon and Mr. Cheung. The majority of the UOSC
(including the Chairman) are independent non-executive directors. Mr. Cheung, a non-executive
non-independent director, joined the UOSC on 28 January 2014. The Board believes that Mr. Cheung
will contribute a different perspective to the UOSC. Mr. Graham Sudgen and Mr. Steven Xu resigned
as directors of the Trustee-Manager on 10 October 2013 and ceased to be members of the UOSC, on
the same day.
The duties of the UOSC are set out in the terms of reference reviewed and approved by the Board on
an annual basis. The UOSC was revised early this year in relation to, among others, the administration
of its proceedings.
The Forterra Unit Option Scheme helps to reward and retain quality staff in the competitive real estate
market in China. Please refer to Note 17 to the financial statements of this Annual Report for more
information on the Forterra Options.
Principle 8: Level and mix of remuneration
All directors and employees of the Trustee-Manager are remunerated by the Trustee-Manager and not
Forterra and further information regarding the remuneration of the directors and employees of the
Trustee-Manager are set out in “Principle 7: Procedure for developing remuneration policies” of this
Report.
The remuneration of the Trustee-Manager is provided for in Clause 13 of the Trust Deed constituting
Forterra dated 19 May 2010.
Principle 9: Disclosure on remuneration
All directors and employees of the Trustee-Manager are remunerated by the Trustee-Manager and not
Forterra and further information regarding the remuneration of the directors and employees of the
Trustee-Manager are set out in “Principle 7: Procedure for developing remuneration policies” of this
Report.
The fee structure of the Trustee-Manager’s remuneration, which includes management fees, trustee fees,
acquisition and divestment fees, is disclosed in Note 1 to the financial statements of this Annual Report.