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Differences Between the Company's Current Corporate Governance Practices and the NYSE Corporate Governance Requirements Applicable to Domestic US Companies
Giant's American Depositary Shares are listed on the New York Stock Exchange (the "NYSE"). As such, Giant is subject to corporate governance requirements imposed by the NYSE. Under Section 303A of the NYSE's Listed Company Manual, NYSE-listed non-US companies such as Giant may, in general, follow their home country corporate governance practices in lieu of some of the NYSE corporate governance requirements. A NYSE-listed non-US company is simply required to provide a general summary of the significant differences to its US investors either on the company website or in its annual report distributed to its US investors. Giant is committed to a high standard of corporate governance. As such, Giant endeavors to comply with most of the NYSE corporate governance practices, with the current exception that Giant is not required by its charter documents, including its amended and restated memorandum of association and articles of association, or applicable law, to obtain shareholder approval for its adoption of, or material revisions to, its equity-compensation plans where its directors consider it in the best interests of the company to do so and when the issue price of shares issued pursuant to such plans is otherwise fair. In this case, however, Giant's practice is in line with the laws of the Cayman Islands. |
