Board of Directors' Charter - Northeast Rubber

‍The Board of Directors shall review the role, duties, and responsibilities of the Board of Directors in the Board of Directors’ Meeting No. 7/2020 on 24 December 2020, as prescribed as follows.

Perform the duty with responsibility, honesty, and carefulness, and maintain the Company’s interests according to the laws, objectives, and Articles of Association, as well as resolution of the shareholders.
Have a duty to define vision, propose the review on the operating policies and directions of the Company, and govern and control the Management to efficiently and effectively carry out according to the established policies to add a maximum economic value for the shareholder and a sustainable growth.
Regularly take shareholder responsibility by maintaining the shareholders’ interests, and properly and completely disclose the substantia data to the investors on standard and transparency basis.
The Board of Directors must have knowledge, competence, and experience which will be useful for the business operation, and truly pay attention on the activities of the company where they are the directors.
Assess the operating result, and determine the remuneration of the Chief Executive Officer and the top executives.
Take responsibility for turnover and duty performance of the Executive with intention and carefulness in operation.
Govern to ensure that the business operation is clearly and measurable targeted to be used as a guideline for targeting the operation by taking into account the possibility and reasonableness.
Govern to ensure that the business operation and operation are ethical.
Govern the Executive to have the appropriate and efficient risk management system.
Consider making decisions on the substantial matters, such as the business policies and plans for large-scale investment projects, authority in management, acquisition or disposal of any other properties and transactions required by laws.
Define the authority and approval level in entering into transactions and carrying out what are related to the Company’s works to a body or a person as appropriate by preparing the operating authority manual, and reviewing at least once a year.
Prepare the reliable accounting system, and financial and audit reporting, and supervise to have a process for assessing the appropriateness of internal control particularly in the matter of entering into the transactions of which the director has gain and loss must be within the scope of laws or requirements of the SET.
Approve on appointing the auditor, and consider annual audit fee to be proposed to the shareholders in considering the approval on appointment.
Report the responsibility of the Board of Directors in preparing the financial reports by presenting together with the auditor’s report in Annual Report, and cover the key matters according to the policy and best practice for the directors.
Govern the operation of the sub-committees according to the prescribed Charter.
The Board of Directors must assess the operating result by itself and assess the overall operating result.

In selecting a person who will be appointed as the Company’s director or executive, the said person shall be a person whose qualifications are complete pursuant to Section 68 of the Public Limited Companies Act B.E. 2535 (1992). However, the Company focuses on Board Diversity without limit of sex, race, religion, knowledge, skill, and experience, and prepares BoardSkillMatrix to determine the qualifications of the director requiring the nomination. The missing necessary skills and the qualifications which are appropriate and consistent with the composition and structure of the director shall be considered. The composition and rules for nomination are as follows.

The Company shall have the Board of Directors to operate the Company’s undertakings, consisting of at least five (5) directors, whereas the directors not less than half of total directors shall have place of residence in the Kingdom. The Company’s directors shall be qualified as prescribed by laws, and can either be the Company’s shareholders or not.
The Shareholders’ Meeting shall appoint the director according to the following rules and methods.

2.1 One shareholder has a vote equaling one (1) share per one (1) vote.
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2.2 Each shareholder shall use total existing votes based on total possessed number pursuant to Clause 2.1 to elect one or several persons as director(s). In the case where several persons are selected to be the directors, more or less votes are indivisible to anyone.

2.3 The persons who get the highest vote in order shall be elected to be the directors in equal number of directors who should be available or should be elected at that time. In the case where the elected persons in descending order have a tie not exceeding the number of directors who should be available and should be elected in that time, the Chairman of the Meeting shall perform casting vote.
In every Annual General Meeting of Shareholders, the directors shall retire for one-third (1/3) of the number of directors at that time. If the number of directors is indivisible to be identical into three portions, they shall retire in a closest number to one-third (1/3) portion. The retired directors may be selected to resume and the directors who shall retire from the office in the first year and the second year after registration, the Company shall ask them to draw lots. In the following years, the director who is in the office for the longest term shall retire.
Any director who will resign from the office shall submit a Resignation Form to the Company. The said resignation shall be effective from the arrival date of the said Resignation Form to the Company.
The Shareholders’ Meeting may resolve that any director shall early retire prior to retirement by rotation with votes not less than three-fourth (3/4) of the number of shareholders who attend the meeting and have voting right, and whose total counted shares are not less than half of the number of shares held by the shareholders who attend the meeting and have voting right.
In the case where the director office is vacant due to other reasons other than retirement by rotation, the Board of Directors shall select a qualified person without prohibited characteristics pursuant to the Public Limited Companies Law or the Securities and Exchange Law to be the replacing director in the following Board of Directors’ Meeting. Unless the remaining term of the said director is less than two (2) months, a person who enters to be the said replacing director shall be in the director office for the term which is just equal to the remaining term of the director replaced by him/her. The resolution of the Board of Directors pursuant to provisions in paragraph one shall consist of votes not less than three-fourth (3/4) of the remaining number of directors.
The Board of Directors can select one director to be the Chairman of the Board of Directors. In the case where the Board of Directors considers and deems appropriate to select one or several director(s) to be Vice Chairman of the Board of Directors. The Vice Chairman of the Board of Directors shall have duty pursuant to the regulations in the undertakings entrusted by the Chairman of the Board of Directors.

Perform the duty in controlling the Company’s management according to the policy established by the Board of Directors, and report the overall operation to the Board of Directors. However, in carrying out the Executive Committee’s Meeting, the committee members not less than half of the executive directors shall attend the meeting. In part of the Executive Committee’s resolution, the majority vote from the meeting shall be obtained, and the said counted votes shall be at least half from total votes of the Executive Committee.
Consider defining authority and level of approval of each person to be appropriate, segregate the duties which may be favorable for corruption, and establish an appropriate procedure and method for entering into the transaction with a major shareholder, a director, or a related party of the said person to prevent the transfer of benefit, and propose to the Board of Directors for approving the principle, and control the observance with the approved principle and requirements.
Consider the annual budget and procedure for spending the budget, and propose to the Board of Directors, and control the spending based on the budget already approved by the Board of Directors.
Consider updating the Company’s business operation plan to be suitable for the Company’s benefits.
Consider approving the investment, and define an investment budget based on the authority in the operating authority manual.
Consider entering into a contract which is binding with the Company based on the authority in the operating authority manual.
Take responsibility to adequately have the Company’s key data to be used as decision support of the Board of Directors and shareholders, and prepare the reliable financial report according to the good and transparent standards.
Consider the profit and loss of the Company, and propose an annual dividend to the Board of Directors.
Consider the new business operation or business dissolution to be proposed to the Board of Directors.
Govern to have a procedure for the requirement of the operators to promptly report the events or acts which are abnormal or breach of laws to the Executive Committee; and the requirement for reporting to the Board of Directors for acknowledgement to consider correcting within a reasonable period in case of the significant effect from the said event.
Carry out whatever to support the aforesaid execution or based on the opinions of the Board of Directors or as authorized by the Board of Directors.
The proposal to the Executive Committee’s Meeting in any matters which are resolved and/or approved by the Executive Committee’s Meeting shall be reported to the Board of Directors for acknowledgement in the following Board of Directors’ Meeting.

However, the aforesaid authority and responsibility of the Executive Committee excludes the authority and/or sub-authorization in approving any transactions of which a member of the Executive Committee or a sub-authorized person or a person that may have conflict (as defined in the Notification of the Capital Market Supervisory Board) has gain and loss or interest in any other nature, in conflict with the Company. In approving the transactions in the said nature, the transactions must be proposed to the Board of Directors’ Meeting and/or Shareholders’ Meeting (as the case may be) for considering and approving the said transactions as prescribed in the Company’s Articles of Association, or related laws.

Verify the financial report to ensure that it is correct and reliable, and the adequate data is disclosed by coordinating with an external auditor and an executive in charge of preparing both quarterly and yearly financial reports.
Verify the Company the ensure that the internal control and internal audit system are appropriate and effective; and consider the independence of the Internal Audit Unit, as well as approve on consideration in appointing, removing, and dismissing the Head of Internal Audit Unit or any other work unit who is responsible for internal audit, and may suggest to verify or audit any transactions deemed necessary and important, as well as propose the suggestions relating to the important and necessary improvement and correction of the internal control system to the Board of Directors by mutually verifying with the external auditor and the Internal System Audit Division Manager.
Verify the compliance with the Securities and Exchange Law or the requirements of the Stock Exchange, other policies, statutes, rules, regulations, and other laws relating to the Company’s business.
Consider selecting, nominating, appointing a person, and disemploy an auditor, and consider the remuneration of the Company’s auditor to the Board of Directors.
Being independent to perform the auditor duty, and consider nominating the remuneration of the Company’s auditor to the Board of Directors, as well as participate in the meeting with the auditor, without the meeting attendance of the Management at least once a year.
Verify the Company’s internal audit plan according to the generally accepted methods and standards.
Consider the related parties transactions or the transactions that may have conflict of interests according to laws and requirements of the Stock Exchange, as well as properly and completely disclose the Company’s data in the said matters to ensure that the said transactions are reasonable and maximally useful for the Company.
Verify to ensure that the Company has the appropriate and efficient risk management system.
Report the operating result of the Audit Committee to the Board of Directors for acknowledgement at least 4 (four) times a year
Consider appointing, removing, and dismissing Head of the Internal Audit Administrator, and assess the performance of the officers of the Internal Audit Unit
In working based on the scope of duties, the Audit Committee shall have authority to invite the Management, the related executives, or employees of the Company to comment, participate in the meeting or send documents regarded to be related or necessary.
Have authority to employ a consultant or a third party according to the Company’s rules to comment or give counsel in case of necessity.
Prepare the corporate governance report of the Audit Committee by disclosing in the Company’s Annual Report. The said report shall be signed by the Chairman of the Audit Committee.
The Audit Committee must yearly assess the operating result by conducting self-assessment and reporting the assessment result, and problems and obstacles in operation that may cause the operating failure to attain the objective for establishing the Audit Committee, to the Board of Directors for acknowledgement.
Consider reviewing and updating the Charter of the Audit Committee.
Perform other works as entrusted by the Board of Directors within the scope of duties and responsibilities of the Audit Committee.

Nomination Aspect

Determine a method for nominating a qualified person to hold the director office to be suitable for the nature and business operation of the organization by determining the qualifications, knowledge and skills in each area required to be available.
Nominate the director when it is the time to propose the director’s name to the Board of Directors for consideration, whereas the nomination may be considered from the existing director to resume the office, or the nomination from the shareholders may be opened, or an external company is used to help recruiting or considering a person from the directories of professional directors or assigning each director to nominate a qualified person, etc.
Consider the name list of the nominees and select a person whose qualifications are consistent with the defined qualification criteria.
Verify whether the said nominee possesses the qualifications according to the laws and requirements of the related agencies.
Approach a person whose qualifications are consistent with the defined qualification criteria to ensure that the said person is glad to assume the Company’s director office if he/she is appointed from the shareholders.
Propose the name to the Board of Directors for considering and filling the name in Appointment Notice for the Shareholders’ Meeting, and proposing to the Shareholders’ Meeting for considering the appointment.
Consider recruiting top executives as entrusted by the Board of Directors.

Consider Compensation Aspect

Consider the rules for paying the remuneration of the directors and top executives, to be suitable, by reviewing the appropriateness of criteria currently used in comparison with the remuneration payment data of other companies in the same industry as the Company, and defining the appropriate criteria to bring about the performance as expected to be fair, and a return to the persons who contribute to the Company’s work success.
Review the payment form of all types of remunerations, such as regular remuneration, performance-based remuneration, and meeting allowance by taking into account the guidance adopted by the same industry, turnover and size of the Company’s business, and responsibility, knowledge, competence, and experiences of the director, and top executive required by the Company.
Consider the criteria for assessing the performance of the Chief Executive Officer, executive directors in line, and top executives as entrusted by the Board of Directors.
Determine annual remuneration of the directors, the Chief Executive Officer, executive directors in line, and top executives according to the rules for payment, for considering and proposing to the Board of Directors for approving the remuneration of the Chief Executive Officer, executive directors in line, and top executives. In part of the directors, the Board of Directors shall propose to the Shareholders’ Meeting for approving.
Consider the suitability and approval in case of offering new securities to the directors and employees by adhering to the principle of shareholder fairness, motivating the directors and employees to perform their duties for long-term value addition to the shareholders, and enable to truly retain the quality personnel.

Corporate Governance Aspect

Establish the corporate governance policy in the Company’s business operation, and propose to the Board of Directors’ Meeting and/or the Shareholders’ Meeting for considering and approving.
Propose the guidance and give advice on the corporate governance to the Board of Directors.
Promote a corporate culture with ethics for governing the compliance with policies and guidance for corporate governance of the Company’s personnel to conform the Corporate Governance Code of the Company’s Code of Conduct.
Review and update the corporate governance policy to be appropriate, and propose to the Board of Directors.

Prepare and store the following documents.
     (1) Director Register
     (2) Appointment notice for the Meeting, and minutes of the Board of Directors’ Meeting, as well as the Company’s Annual Report
     (3) Appointment notice for the Shareholders’ Meeting, minutes of the Board of Directors’ Meeting, and minutes of the Shareholders’ Meeting
Store the Stakeholding Report reported by the directors or executives, and send the copy of such Report to the Chairman of the Board of Directors, and the Chairman of the Audit Committee for acknowledgement within seven (7) working days from the received date of the Report by the Company.
Prepare the storage system of documents and evidence relating to the declaration of the following data, and oversee the said storage of documents or evidence to be proper, complete, and verifiable, in the period of not less than five (5) years from preparation date of the said documents or data. The above storage of documents and evidence includes the storage with computer system or any other system which can be retrieved without change in statements.
     (1) Provision of the supporting data for requesting the resolution of the Shareholders’ Meeting
     (2)Financial statements and reports relating to the Company’s financial position and overall operation, or any other reports requiring the disclosure pursuant to Section 56, Section 57, Section 58, or Section 199 of the Securities and Exchange Act.
     (3) The Company’s opinion when anyone issues a bid for general purchasing the Company’s shares from the shareholder.
     (4)Provision of any data or report relating to the business prepared by the Company for publicizing to the shareholders or public as prescribed by the Capital Market Supervisory Board.
Further take other actions as prescribed in the Notification of the Capital Market Supervisory Board.
Require the duty performance with responsibility, carefulness, and honesty, and require the compliance with the Company’s laws, objectives, and Articles of Association of the Company, resolution of the Board of Directors, and resolution of the shareholders, and not perform any acts which are significantly in conflict or in contradiction with the Company’s benefits.
Require the duty performance with responsibility and carefulness like a person of ordinary prudence. The said business operator shall perform under the same situation by:
     (1) Decision is made with honest and reasonable belief that it mainly takes place for the Company’s maximum benefits.
     (2) Decision is made on the basic data under the honest belief that it is adequate.
     (3) Decision is made without its gain and loss either directly or indirectly in that decided matter.

ถือหุ้นไม่เกินร้อยละหนึ่ง (1) ของจำนวนหุ้นที่มีสิทธิออกเสียงทั้งหมดของบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้มีอำนาจควบคุมของบริษัท ทั้งนี้นับรวมการถือหุ้นของผู้ที่เกี่ยวข้องของกรรมการอิสระรายนั้นๆ ด้วย
ไม่เป็นหรือเคยเป็นกรรมการที่มีส่วนร่วมบริหารงาน ลูกจ้าง พนักงาน ที่ปรึกษาที่ได้เงินเดือนประจำ หรือผู้มีอำนาจควบคุมของบริษัท ผู้ถือหุ้นรายใหญ่หรือของผู้มีอำนาจควบคุมของบริษัท เว้นแต่จะได้พ้นจากการมีลักษณะดังกล่าวมาแล้วไม่น้อยกว่า 2 ปี ก่อนวันที่ยื่นคำขออนุญาตต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์ ทั้งนี้ ลักษณะต้องห้ามดังกล่าวไม่รวมถึงกรณีที่กรรมการอิสระเคยเป็นข้าราชการหรือที่ปรึกษาของส่วนราชการซึ่งเป็นผู้ถือหุ้นรายใหญ่หรือผู้มีอำนาจควบคุมของบริษัท
ไม่เป็นบุคคลที่มีความสัมพันธ์ทางสายโลหิตหรือโดยการจดทะเบียนตามกฎหมายในลักษณะที่เป็นบิดา มารดา คู่สมรส พี่น้อง และบุตร รวมทั้งคู่สมรสของบุตร ของผู้บริหาร ผู้ถือหุ้นรายใหญ่ ผู้มีอำนาจควบคุม หรือบุคคลที่จะได้รับการเสนอให้เป็นผู้บริหารหรือผู้มีอำนาจควบคุมของบริษัท
ไม่มีหรือเคยมีความสัมพันธ์ทางธุรกิจ/1 กับบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้มีอำนาจควบคุมของบริษัท ในลักษณะที่อาจเป็นการขัดขวางการใช้วิจารณญาณอย่างอิสระของตนรวมทั้งไม่เป็นหรือเคยเป็นผู้ถือหุ้นที่มีนัยหรือผู้มีอำนาจควบคุมของผู้ที่มีความสัมพันธ์ทางธุรกิจกับบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้มีอำนาจควบคุมของบริษัท เว้นแต่จะได้พ้นจากการมีลักษณะดังกล่าวมาแล้วไม่น้อยกว่า 2 ปี ก่อนวันที่ยื่นคำขออนุญาตต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์

/1 ความสัมพันธ์ทางธุรกิจ รวมถึงการทำรายการทางการค้าที่กระทำเป็นปกติเพื่อประกอบกิจการ การเช่าหรือให้เช่าอสังหาริมทรัพย์ รายการเกี่ยวกับสินทรัพย์หรือบริการ หรือการให้หรือรับความช่วยเหลือทางการเงิน ด้วยการรับหรือให้กู้ยืม ค้ำประกัน การให้สินทรัพย์เป็นหลักประกันหนี้สิน รวมถึงพฤติการณ์อื่นทำนองเดียวกัน ซึ่งเป็นผลให้บริษัทหรือคู่สัญญามีภาระหนี้ที่ต้องชำระต่ออีกฝ่ายหนึ่ง ตั้งแต่ร้อยละ 3 ของสินทรัพย์ที่มีตัวตนสุทธิของบริษัทหรือตั้งแต่ 20 ล้านบาทขึ้นไป แล้วแต่จำนวนใดจะต่ำกว่า ทั้งนี้การคำนวณภาระหนี้ดังกล่าวให้เป็นไปตามวิธีการคำนวณมูลค่าของรายการที่เกี่ยวโยงกันตามประกาศคณะกรรมการกำกับตลาดทุนว่าด้วยหลักเกณฑ์ในการทำรายการที่เกี่ยวโยงกัน โดยอนุโลม แต่ในการพิจารณาภาระหนี้ดังกล่าว ให้นับรวมภาระหนี้ที่เกิดขึ้นในระหว่างหนึ่งปีก่อนวันที่มีความสัมพันธ์ทางธุรกิจกับบุคคลเดียวกัน
ไม่เป็นหรือเคยเป็นผู้สอบบัญชีของบริษัท ผู้ถือหุ้นรายใหญ่หรือผู้มีอำนาจควบคุมของบริษัทและไม่เป็นผู้ถือหุ้นที่มีนัย ผู้มีอำนาจควบคุม หรือหุ้นส่วนของสำนักงานสอบบัญชีซึ่งมีผู้สอบบัญชีของบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้มีอำนาจควบคุมของบริษัทสังกัดอยู่ เว้นแต่จะได้พ้นจากการมีลักษณะดังกล่าวมาแล้วไม่น้อยกว่า 2 ปี ก่อนวันที่ยื่นคำขออนุญาตต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์
ไม่เป็นหรือเคยเป็นผู้ให้บริการทางวิชาชีพใดๆ ซึ่งรวมถึงการให้บริการเป็นที่ปรึกษากฎหมายหรือที่ปรึกษาทางการเงิน ซึ่งได้รับค่าบริการเกินกว่า 2 ล้านบาทต่อปีจากบริษัท ผู้ถือหุ้นรายใหญ่หรือผู้มีอำนาจควบคุมของบริษัท และไม่เป็นผู้ถือหุ้นที่มีนัย ผู้มีอำนาจควบคุมหรือหุ้นส่วนของผู้ให้บริการทางวิชาชีพนั้น เว้นแต่จะได้พ้นจากการมีลักษณะดังกล่าวมาแล้วไม่น้อยกว่า 2 ปี ก่อนวันที่ยื่นคำขออนุญาตต่อสำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์
ไม่เป็นกรรมการที่ได้รับการแต่งตั้งขึ้นเพื่อเป็นตัวแทนของกรรมการของบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้ถือหุ้นซึ่งเป็นผู้ที่เกี่ยวข้องกับผู้ถือหุ้นรายใหญ่
ไม่ประกอบกิจการที่มีสภาพอย่างเดียวกันและเป็นการแข่งขันที่มีนัยกับกิจการของบริษัท หรือไม่เป็นหุ้นส่วนที่มีนัยในห้างหุ้นส่วนหรือเป็นกรรมการที่มีส่วนร่วมบริหารงาน ลูกจ้าง พนักงาน ที่ปรึกษาที่รับเงินเดือนประจำหรือถือหุ้นเกินร้อยละ 1 ของจำนวนหุ้นที่มีสิทธิออกเสียงทั้งหมดของบริษัทอื่นซึ่งประกอบกิจการที่มีสภาพอย่างเดียวกันและเป็นการแข่งขันที่มีนัยกับกิจการของบริษัท
ไม่มีลักษณะอื่นใดที่ทำให้ไม่สามารถให้ความเห็นอย่างเป็นอิสระเกี่ยวกับการดำเนินงานของบริษัท

กรรมการอิสระตามคุณสมบัติข้างต้น อาจได้รับมอบหมายจากคณะกรรมการบริษัทให้ตัดสินใจในการดำเนินกิจการของบริษัท ผู้ถือหุ้นรายใหญ่ หรือผู้มีอำนาจควบคุม โดยมีการตัดสินใจในรูปแบบขององค์คณะ (Collective Decision) ได้

Charter of the Board of Directors

Scope of Duties and Responsibilities of the Board of Directors

Composition and Appointment of the Director

Role and Duty of the Chairman of the Board of Directors

Charter of Executive Committee

Scope of Duties and Responsibilities of the Chief Executive Committee

Scope of Duties and Responsibilities of the Executive Committee

Charter of Audit Committee

Scope of Duties and Responsibilities of the Audit Committee

Composition and Nomination of the Audit Committee

Qualifications of the Audit Committee

Charter of Nomination and Sustainability Development Committee

Scope of Duties and Responsibilities of the Charter of Nomination and Sustainability Development Committee

Charter of Risk Management Committee

Scope of Duties and Responsibilities of the Risk Management Committee

Charter of Company Secretary

Scope of Duties and Responsibilities of the Company Secretry

In the case where the Company Secretary retires or fails to perform the duty.

Qualifications of Independent Directors

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