The Board is responsible for the overall corporate governance of the Company, and it recognises the need for the highest standards of ethical behaviour and accountability.
In fulfilling its obligation and responsibilities to its various stakeholders, the Board advocates the adoption of and adherence to a framework of rules, relationships systems and processes within and by which authority is exercised and controlled within the Company. The Corporate Governance and Policies Manual outlines the Company’s principal corporate governance procedures. The Board supports a system of corporate governance to ensure that the management of the Company is conducted in a manner which is directed at achieving the Company’s objectives in a proper and ethical manner.
Except to the extent indicated in the Corporate Governance and Policies Manual and in the Company’s subsequent Annual Reports, the Company has resolved that for so long as it is admitted to the official list of the ASX it shall abide by the ASX’s Eight Corporate Governance Principles and Recommendations where applicable. The Board may from time to time determine to depart from the ASX Recommendations in certain areas having regard to the circumstances of the Company, including its size, stage of development and other material factors.
The policies detailed in the Corporate Governance and Policies Manual have been adopted on the basis that, in the Company’s circumstances, they represent what is considered to reflect reasonable aspirations. Their object is to focus attention upon the issues they address and create awareness of those issues and the pitfalls that one could otherwise inadvertently fall into. This is to develop a culture conducive to good practice.
In June 2020, the Company undertook a review of its Corporate Governance framework, including its policies, to ensure it meets the requirements set out in the ASX Corporate Governance Council’s Principles and Recommendations (Fourth Edition). This review was implemented, effective 1 July 2020. For the year ended 30 June 2021, the Company will be reporting against the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (Fourth Edition). Furthermore, the Company adheres to those mandatory requirements for a S&P/ASX200 Company, having been admitted into the S&P/ASX200 Index from 21 September 2020.