Page 77 - InterloopAnnualReport2020

Evaluation of Board’s Some of the governance practices exceeding legal
Performance requirements that have been adopted by the Company
include:
As per the requirements of the Listed Companies (Code • Disclosure of Material Information
of Corporate Governance) Regulations, 2019, the Board The Company has always ensured that all material
needs to act on a well-versed basis in the best interest of information is communicated to the PSX, the SECP,
the Company and its stakeholders. Board’s performance and the Company’s shareholders as soon as it
evaluation is carried out to set the ‘tone at the top’ ensuring becomes available. At all times, we have ensured
the right mix of knowledge, expertise, and skills to maximize that such information is sent out much before the
performance. deadlines set out in the laws

Details of Formal Orientation • Dispersal of various financial analysis including

Courses for Directors ratios, reviews, and risk matrices, etc. in the Annual
Report
The Company makes appropriate arrangements to carry • The Company has developed and implemented a
out an orientation for its Directors to acquaint them with stringent Health Safety Environment (HSE) systems
the Regulations of the Code, applicable laws, Company’s and strategies at its Plants to ensure the proper
operations, their duties and responsibilities enabling them to safety of its people and equipment
effectively govern the affairs of the listed Company.
A formal orientation program is arranged for every new • Implementation of Directors’ Training Program ahead
member of the Board to provide better understanding of the of the prescribed timeframe
Company’s structure, business, targets and operations.
This orientation provides a brief insight of the Company’s Policy for Security Clearance of
core competencies, status of Company’s affairs,
Investments, summary of the Company’s major assets, Foreign Directors
liabilities, noteworthy contracts and major competitors. There is no foreign director on the Board of Interloop
It also includes details of major risks including all legal Limited, accordingly, no such policy of security clearance
and regulatory framework risks, all major shareholders, exists.
suppliers, auditors, and other stakeholders.

Governance Practices Exceeding
Legal Requirements

Interloop Limited has always believed in going the extra
mile and staying ahead of the curve. Aligning with this
strategy, we have complied with the mandatory legal
compliances under all applicable rules, regulations, and
standards including listed Companies (Code of Corporate
Governance) Regulations, 2019, and the Companies Act,
2017.

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