Hengdeli Holdings Limited released updated Terms of Reference for its Nomination Committee. The committee must consist of at least three directors, with a majority being independent non-executive directors, and must include at least one director of a different gender. A quorum requires two members present.

According to the announcement, the Nomination Committee is responsible for reviewing the Board’s structure, size, composition, and diversity at least once a year, as well as assessing the independence of independent non-executive directors. The committee also oversees the selection process for new Board candidates, evaluates the time commitment of each director, considers succession planning for key positions, and ensures sufficient resources are provided to fulfill these responsibilities.

The updated Terms of Reference indicate that the Nomination Committee should regularly review Board diversity policies, disclose any updates in the corporate governance report, and circulate meeting minutes to all Board members within 14 days of each meeting. The announcement emphasizes that the committee may seek independent professional advice at the Company’s expense whenever necessary.