Left Bank

Practices

INTERACTION BETWEEN THE BOARD AND EXECUTIVE COMMITTEE AND THE ROLE OF THE BOARD SECRETARY

DIALOGUE
Good corporate governance provides for open dialogue between Credence board and ExCom. Credence has thus developed a procedure for periodic reports (information briefs) from the Executive Chairman and the ExCom to the board, as specied in the ExCom charter. The board shall further have unrestricted access to Credence management and its team members. The Board Secretary plays a key, overall role in facilitating this process.

THE BOARD SECRETARY
The Board Secretary is employed on a full time basis. The Board Secretary possesses the necessary qualications and skills to ensure that the governing bodies follow internal rules and external regulations; facilitates clear communications between the governing bodies in-line with Credence articles of association, charters, by-laws, and other internal rules; and keeps the board and Credence key executives abreast of the latest corporate governance developments.

SENIOR EXECUTIVES
Senior Executives are presented with ample opportunity to present during board meetings, so that managers gain the necessary exposure and experience in interacting with the board and the board, in turn, can obtain direct information and better gauge the next generation of managers and future leaders. All shareholders have the right to participate in the governance and the prots of Credence. All rights are regulated in Credence articles of association. Credence articles of association provide a detailed description of all the procedures for the preparation, holding and decision-making at the general assembly.

PREPARATION
Every shareholder that holds voting shares is entitled to participate and vote during the general assembly; to receive advance notication and an agenda; and to be provided with accurate, objective, and timely information sucient for making an informed decision about the issues to be discussed at the general assembly. Credence management will be responsible for this process, which is to be implemented by the company secretary. Credence has a fair and eective procedure for submitting proposals to the agenda of the general assembly, including proposals for the nomination of the board members. The agenda of the general assembly is not changed after the board approves it.

HOLDING THE GENERAL ASSEMBLY
Credence takes all the steps necessary to facilitate the participation of shareholders in the general assembly and vote on the agenda items. The venue of the general assembly is easily accessible for the majority of shareholders.

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