The Directors are committed to and support the implementation of best practice in corporate governance, applied in a manner that is appropriate to the Company’s circumstances.
The Company’s corporate governance practices and procedures are directed to providing an appropriate framework for the pursuit of this objective, while protecting the rights and interests of shareholders and ensuring that the Company conducts its business lawfully and ethically.
On 31 March 2003 the Corporate Governance Council of the Australian Securities Exchange released its “Principles of Good Corporate Governance and Best Practice Recommendations” (“ASX Principles and Recommendations”). A second edition entitled “Corporate Governance Principles and Recommendations with 2010 Amendments” was released on 30 June 2010 and came into effect on 1 January 2011.
The Board of Directors has put in place a framework of internal policies, procedures and guidelines for the governance of the Company, which has appropriate regard to the ASX Principles and Recommendations.
The governance framework is reviewed annually by the Board with the object of achieving at all times the highest standards of corporate governance and ethical corporate behaviour.