COMPANY POLICIES

A. Whistle-blower Protection Policy and Grievance Policy

Complaints concerning employee illegal and unethical behavior are handled following the Company’s policy on whistle blowing, grievance resolution, and Code of Conduct Manual, where prompt resolution in an orderly manner and fair treatment in the investigation of the complaint or disclosure are followed and applied.

A written discovery report or complaint is first submitted to the concerned authorities in the Company when thereafter investigation is conducted where the parties involved are given the chance to submit evidence in defense of their side. An evaluation of the facts and a hearing of the case by a committee is made and a recommendation on the appropriate action of the Company is submitted to the deciding authority for final approval within the prescribed time allowed where a written appeal for reconsideration may be filed.

Under the Code of Conduct policy, retaliation or discrimination, whether direct or indirect and in any form, against any directors, officers or employees who reports any violation of the Code of Conduct honestly and in good faith, shall not be tolerated.

Under the Whistleblower Protection Policy, it is contrary to the values of the Company for anyone to retaliate against any board member, officer, employee or volunteer who in good faith reports an ethics violation, or a suspected violation of law, such as a complaint of discrimination, or suspected fraud, or suspected violation of any regulation governing the operations of the Company. An employee who retaliates against someone who has reported a violation in good faith is subject to discipline up to and including termination of employment.

By ensuring a fair and speedy evaluation of the case or complaint, the employees are provided protection from unwarranted retaliation.

B. Conflict of Interest Policy

All employees are expected to act in the best interest of the Company.

Under the Company’s conflict of interest policy, all transactions, which are or may have the potential of, being deemed as Conflict of Interest transactions are prohibited. All business decisions must not be motivated by personal considerations and other relationships that can interfere with their independent judgment.

In case of conflict, the policy requires the director, senior management and employees to disclose any actual or potential instances and/or situations where they may have a Conflict of Interest or the appearance of a Conflict of Interest as soon as they become aware of such actual or potential instances and/or situations.

In addition, the Company’s Revised Manual on Corporate Governance provides (under Duties and Functions of the Board) Article 3. G. (i) state that:

  • The director should conduct fair business transactions and ensure that his personal interest does not conflict with the interest of the Company.
  • The basic principle to be observed is that a director should not use his position to profit or gain benefit for himself and/or his related interests.
  • If an actual or potential conflict of interest arise, the director should fully and immediately disclose it and should not participate in the decision-making process.
  • A director who has a continuing conflict of interest should seriously considering resigning from his position.
  • A conflict of interest shall be considered material if the director’s personal or business interest is antagonistic to that of the corporation, or stands to acquire or gain financial advantage at the expense of the Company.

 

C. Fair Dealings/ Insider Trading Policy

All employees must act with the highest degree of integrity at all times whether internally or externally. Directors, officers and employees must avoid taking unfair advantage of anyone through manipulations, concealment, and abuse of privileged information, misrepresentation of material facts or any unfair dealing practices, and must deal fairly with the customers, service providers, suppliers, contractors and co-employees.

In addition, all directors are required to report to the Compliance Officer any dealings in Company shares within three (3) business days from date of  transaction which  shall be disclosed to the PSE within five (5) trading days in accordance with PSE disclosure rules.

Directors and officers are reminded of the black out in trading of Apex shares when they are in possession of Material Non-Public Information and two trading days after such Material Non-Public Information is disclosed.

 

D. Material Related Party Transactions

For related party transactions, as for all of the Company’s other transactions, arm’s length basis is followed. Appropriate Board approval is obtained before the transaction is done, considering that the Company’s interest and therefore also that of the minority and other stockholders are protected.

Transactions with related parties are properly approved and are disclosed in the Company’s external reports and financial statements.

 

E. Company’s policy for its employees’ safety, health, and welfare

The Company promotes safety, non-discrimination, environmental awareness, and commitment in the workplace. It likewise supports programs that promote the development and potential of its employees as well as encourage transparency, professionalism, and accountability.

The Company has on-going programs for health, safety and welfare of its employees and dependents, which include medical/ hospital services, medicine allowance and assistance, housing allowance, meal/ rice allowance, life and accident insurance, shuttle service, and a retirement plan. The Safety Department ensures the safety of the employees by managing the safety programs of the Company.

 

F. Quality, Environment, Safety and Health Policy

Apex Mining Co., Inc. (AMCI) envisions inclusive progress in harmony with sustainable development through continuous improvement of business practices as a responsible mining company.

The company is committed to:

A – Attain the quality satisfaction of stakeholders while maintaining profitability of the company.

M – Manage and protect the environment and neighboring communities towards long-term societal benefits.

C – Continually innovate its business processes by implementing legally-complaint, cost-efficient, and globally-competitive mining practices.

I – Implement occupational safety and health standards and programs to prevent illnesses and untoward incidents.

This IMS Policy is the foundation of management responsibility and shall be implemented and continually improved at all levels of the organization.

This is the AMCI way!