Page 72 - UBP - IR2020

CORPORATE GOVERNANCE
Statement of compliance
(as per Section 75(3) of the Financial Reporting Act 2004)
Name of Public Interest Entity (“PIE”): The United Basalt Products Limited
Reporting Period: June 30 2020
The The Board of of of Directors of of of The The United Basalt Products Limited
confirms that to to the the the best of of of their knowledge the the the Company has fully complied with all all the the the the principles of of of the the the the Code Code of of of Corporate Governance of of of 2016 (the “Code”) in in all all material aspects except for the the the the following:
- Composition of of the the the Audit Audit Committee: While the the the Chairperson of of the the the Audit Audit Committee Committee has been replaced and is an an Independent Non-Executive Director (INED) the the the two other members who were formerly INEDs no more qualify as such since they have served the the the the the the Board Board for more than nine years However the the the the the the Board Board is of of the the the the the the opinion that the the the the the the two other members of of the the the the the the Committee have sufficient financial management knowledge and and experience and and are able to exercise independent judgement in in discharging their responsibilities On behalf of the Board Marc Freismuth
Chairman
November 09 2020
Stéphane Ulcoq
Group CEO
72 - UBP INTEGRATED REPORT 2020