Related Party Transactions (RPTs)

 


Policy on RPTs

The Globe policy on RPTs institutionalizes our assurance of protection for our shareholders, including minority shareholders, and all stakeholders from abusive RPTs as well as reinforces the CG principles of complete disclosure and transparency in relation to such transactions. Among other key provisions, the Globe policy on RPTs provides for:


  • the definition of RPTs,
  • the coverage and materiality threshold,
  • guidelines to ensure arm’s length terms,
  • identification and prevention or management of potential or actual conflicts of interest,
  • the role of and review by the Audit and RPT Committee in relation to RPTs,
  • whistle-blowing mechanisms,
  • restitution of losses and other remedies for abusive RPTs, and
  • proper disclosure of RPTs, in addition to the provisions under Article III, Section 8.5 of our MCG.

 

Click here to view and download our Policy on RPTs.

HISTORICAL RPTs DOWNLOAD
2016 List of RPTs as reflected in the Annual Report Download
2015 List of RPTs as reflected in the Annual Report Download
2014 List of RPTs as reflected in the Annual Report Download
2013 List of RPTs as reflected in the Annual Report Download
2012 List of RPTs as reflected in the Annual Report Download

 

Rights of minority shareholders are protected at all times, especially from abusive actions by, or in the interest of controlling shareholders. Globe ensures that its policies and processes cater to the best interest of all its shareholders, including minority shareholders, and other stakeholders. As such, all transactions including related-party transactions that require shareholders' approval are submitted to all shareholders, including minority shareholders, for approval.

 

Shareholders, including minority shareholders, and other stakeholders are provided with proper guidelines and procedures for right of action and remedies that are readily accessible in order to redress the conduct of Globe (e.g. Facebook page, Twitter account, e-mail account, and hotline numbers), as necessary. The Globe policy on whistle-blowing as stated in the Code of Conduct shall also apply to any abuse of RPT. With support from the Corporation's Human Resources Group, such whistle-blowing concerns and reports may be addressed to Mr. Niño Guardino, Labor Relations Manager. Whistleblowing in relation to RPTs shall be reported to the Audit and RPT Committee.

 

We disclose, review, and approve related party transactions, in accordance with the principles of transparency and fairness, to ensure that they are at arm's length, the terms are fair, and they will inure to the best interest of the corporation and its subsidiaries or affiliates and their shareholders. The RPTs are disclosed in our financial statements, annual reports, and other applicable flings in accordance with the relevant rules and issuance of the SEC, PSE and other applicable regulatory bodies. The disclosures include, but are not limited to, the name of the related party, relationship with the corporation for each RPT, and the nature and value or each RPT. Such disclosures are also made publicly available, for the benefit of all shareholders and other stakeholders, through our website as seen below and such other media channels as applicable.

 

Non-compliance with any of the provisions of the policy on RPT shall result in the nullification of any agreement or contract involved in the execution of the RPT. A director, officer, employee, or related party is subject to the corresponding procedures and penalties under the company's Code of Conduct and relevant laws, as applicable.