When it comes to complying with principles of good corporate governance, the responsibility begins with and primarily rests in the hands of the Board of Directors and Management of Victorias Milling Company, Inc. (VMC)
The Manual on Corporate Governance is VMC’s guide to attaining corporate goals and objectives. It institutionalizes the principles of good corporate governance in the entire VMC organization. The Manual has undergone revisions and updating to ensure that it is compliant with the latest circulars issued by the Securities and Exchange Commission (SEC) and relevant rules by the Philippine Stock Exchange (PSE). It was last revised and amended on February 3, 2015.
The changes to the Manual pertained to Board Governance where it is emphasized that the Board has the general responsibility to foster the long-term success of the corporation, and to sustain its competitiveness and profitability in a manner consistent with its corporate objectives and the best interest of its stockholders and other stakeholders. Under Disclosure and Transparency, the Manual declares that the Board constantly maintains the full disclosure of material information or of anything that could potentially affect share price and the viability or interest of its stockholders and other stakeholders. It shall cause the filing of all required information, through the appropriate Exchange mechanisms for listed companies. It shall also submit all pertinent documents to the commission in the interest of its stockholders and other stakeholders.
The VMC Board of Directors, Management, staff and shareholders believe that good corporate governance is an integral part of what constitutes sound strategic management. They shall undertake every effort necessary to create awareness and compliance with the same.