An item is presumed to be quantitatively immaterial

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Unformatted text preview: of materiality requires consideration of both quantitative and qualitative elements. An item is presumed to be quantitatively immaterial if it is equal to or less than 5% of the appropriate base amount. 3 Wellcom Group Limited Corporate Governance Statement It is presumed to be material if it is equal to or greater than 10% of the appropriate base amount (unless there is qualitative evidence to the contrary). Qualitative factors considered include the importance of a strategic relationship, competitive landscape, nature of the relationship and the contractual or other arrangements governing it and other factors that indicate the ability of the director in question to shape the direction of the Group’s loyalty. For personal use only In accordance with the definition of independence above and the materiality thresholds set, the following directors of the Company are considered to be independent: Name: Position: K.B. Smith C.A. Anzarut Non-executive Director Non-executive Director Board members The skills, experience, expertise, qualifications, term of office and independence status of each director...
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