Report to the Board. The Representative Director shall ensure that the following information be reported to the Board within forty-five (45) days of each quarter, in Korean and English: (i) interim financial statements of KUT as at the end of the preceding quarter consisting of the balance sheet, income statement, statement of cash flow, statements of changes in financial position, specifications of manufacturing cost, and surplus appropriation statement or deficit disposal statement; (ii) a written report comparing actual results for such quarter to the business plan and budget for the relevant year and containing comments on any other significant operational or other developments which may affect KUT and a commentary on the outlook for the next four (4) fiscal quarters; and (iii) a report of KUT disclosing and detailing any transactions or agreements between KUT and any of its directors, officers or Affiliates or any director or officer of any Affiliate and any other transaction or agreement other than on commercial arm’s-length terms.
Appears in 2 contracts
Sources: Share Subscription and Joint Venture Agreement, Share Subscription and Joint Venture Agreement