Regulatory Requirements

Terms of Reference

Internal Control Policy

Tri-Pack has established standard operating procedures for processes that act as a guiding principle for our activities. The Company has engaged a well reputed audit firm to carry out internal audits of our processes. The findings of these audits are shared with the Board Audit Committee every quarter along with action points if any.

Director’s Remuneration Policy

The remuneration of the Directors for attending meetings of the Board or Committees of Directors shall from time to time be determined by the Board based on market trend. Nominee directors from Group Companies and Mitsubishi Corporation, Japan shall not be entitled to receive board/committee meeting fees. If a director is resident out of the place at which any board/committee meeting is held, and who shall come to that place for the purpose of attending board/committee meetings, the director shall be entitled to be reimbursed at actual.

Risk Management Policy

The Company is working in an environment with constant view of risk involved and so the Company has maintained a risk register which assists the management in taking possible actions to reduce the consequences of the risks associated to the Company. Risks are identified by different departments and considering the probability and impact, scores are assigned to each risk. Management then recommends and ensures that mitigating controls are in place. The risk register is approved by the Board of Directors and reviewed on periodic basis.

Whistle Blowing Policy

The purpose of the policy is to provide guidelines to establish an objective and impartial process for prevention, detection and remedial measures of unethical behavior, corruption and fraudulent activities that may cause damage to the Company’s assets or reputation. It would ensure a safe, ethical and productive working environment free from any prejudice, harassment, fraud or other malpractices.

The objective of policy is to ensure that the Code of Conduct is upheld through transparent and fair process. Employees are encouraged to question, discuss, and share information regarding any suspected irregularities or non-compliance with the Code of Conduct.

Code of Conduct

Tri-Pack has adopted a unified code as a guidance and standard for the conduct of the Company and its employees and shareholders. This code sets out the way we do business and conduct ourselves and its compliance is mandatory across the organization. All employees are required to sign a compliance certification on an annual basis. Following are the key elements of the Code of Conduct:

Promote Fair Business Practices
Avoid Conflict of Interest
Respect for Human Rights, Dignity and Equal Opportunity:
Proprietary and Confidential Information
Open Communication
Place and Work Environment
Legal and Ethical Standards
Compliance
Participation in Politics
Irregular Conduct, Fraud, Deception and Violation of Code
Related Party Transactions

Shareholder Communication and Investor Relation Policy Purpose

The Board of Tri-Pack Films Limited recognizes that it needs to engage with its shareholders and provide them with appropriate information and facilities to allow them to exercise their rights as shareholders effectively. This includes:

giving shareholders ready access to information about the Company and its governance;
communicating openly and honestly with shareholders; and
encouraging and facilitating their participation in meetings of shareholders. The purpose of this policy is to outline how the Company will provide shareholders and other investors with information about itself and its governance, and to outline the Company’s investor relations program.

Company Website

The Company has a website which can be found at www.tripack.com.pk. The Company’s website is designed to provide shareholders and other investors with helpful information about the Company.

General Meetings

The Company recognizes that general meetings are an important forum for two-way communication between the Company and its shareholders. The meetings provide the Company with an opportunity to impart to shareholders a greater understanding of its business, governance, financial performance and prospects, as well as to discuss areas of concern or interest to the Board and management. The meetings also provide shareholders with an opportunity to express their views to the Company’s Board and management about any areas of concern or interest for them. The Company endeavours to actively engage with shareholders at its general meetings, and encourages attendance and participation at its meetings.

Shareholder Meetings and Enquiries

The Company endeavours to meet with shareholders upon request and respond to any enquiries they may make from time to time.

Disclosure of Material and / or Price Sensitive Information

The Company discloses material information as appropriate in a transparent and timely manner, in compliance with the requirements of all the applicable laws and regulations. Information which is not regarded as material under the applicable laws may be disseminated to the shareholders by way of press releases on Pakistan Stock Exchange website.

Corporate Social Responsibility Policy

Tri-Pack is and always will be a responsible corporate citizen committed to Sustainable and Responsible development of its operations and the environment it operates in. Our principles are based strictly on reducing our impact on the planet while also respecting our social values. We genuinely care about doing our part to uplift our community and actively work to align our business decision-making with the reasonable societal expectations of a modern manufacturing company.