E.2.22
Does the Audit Committee comprise entirely of non-executive directors/commissioners with a majority of independent directors/commissioners?
Response
YES. The Audit Committee is composed entirely of non-executive directors majority of whom are independent directors. Currently, the Audit Committee members have two independent directors and one non-executive director.
The incumbent members are:
1. Honorio O. Reyes-Lao - Chairman/Independent Director
2. Antonio Jose U. Periquet - Member/Independent Director
3. Cesar A. Buenaventura - Member/Non-Executive Director
References:
1. SEC Form 17-C - Board Meeting Results dated May 14, 2015.
2. Website - Corporate Governance/Board Committees and Charters