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FORTERRA
ANNUAL REPORT 2013
CORPORATE GOVERNANCE
REPORT
50
Specific duties included within the scope of work to be undertaken as part of the Internal Audit program
include:
•
a review of the control activities relating to a key development site of Forterra; and
•
presentation of the internal audit program annually to the Board of the Trustee-Manager and
reporting to the Board on the findings of the internal audit so that they may consider what action,
if necessary, should be taken.
The summary of findings by RSM and their recommendations are also discussed at the Audit Committee
meetings.
The Audit Committee will review the adequacy and effectiveness of the internal audit function at least
annually and, that it has appropriate standing within the Trustee-Manager in relation to the affairs of
Forterra. In addition, the AC also approves the hiring, removal, evaluation and compensation of the
internal auditors. The Board recognises that whilst they have resolved to outsource the internal audit
function, they retain responsibility for maintaining an effective internal audit activity.
UNITHOLDER RIGHTS AND RESPONSIBILITIES
Principle 14: Unitholder Rights
Principe 16: Conduct of Unitholder Meetings
The Trustee-Manager is committed to the timely dissimination of all material price-sensitive information
to the Unitholders and public at large. Accordingly, all material price-sensitive information is released
via SGXNet, and then posted on the corporate website of Forterra at http://www.forterra.com.
Forterra’s website contains information ranging from detailed financial information, annual reports,
investor presentations, analyst coverage, press releases and announcements released via SGXNet.
The general meetings of the Unitholders of Forterra, in particular, the annual general meeting, is a forum
for dialogue with the Unitholders. Unitholders are informed of the general meetings through notices
published in the press, announcements to SGXNet and the dispatch of the annual report or circulars,
within the prescribed statutory periods.
The Trust Deed permits a Unitholder of Forterra to appoint one (1) or two (2) proxies to attend
and vote in his place at the general meetings. For the time being, the Trustee-Manager will not be
implementing absentia voting methods such as voting via mail, email or fax as issues remain over
unitholder authentication and other related security concerns. The Trustee-Manager also permits
holders of Units who hold the Units through nominees to attend the general meetings as observers,
subject to availability of seats.
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