Wai Chi Holdings Company Limited recently announced updated terms of reference for its Nomination Committee, initially established via a board resolution on 27 October 2014 and now amended with an effective date of 2 December 2025.

According to the newly updated guidelines, the Nomination Committee must include a majority of independent non-executive directors and at least one director of a different gender to ensure diversity. There must be a minimum of three members, and any vacancy bringing membership below this threshold must be filled by the Board within three months.

The Committee is tasked with meeting at least once annually to review and evaluate the Board’s structure, composition, and succession planning. Members have the authority to obtain information from management, seek independent professional advice when necessary, and assess the independence of non-executive directors. The updated terms also highlight that the Committee should regularly examine board diversity, including gender balance, relevant expertise, and overall strategic needs.

The chairman of the Committee or a designated member is expected to present Committee findings at the annual general meeting. Full minutes of Committee proceedings are maintained by the company secretary, and the complete terms of reference will be made publicly available on the official websites as stipulated by the relevant regulatory requirements.