The Directors monitor the business affairs of the Company on behalf of Shareholders and have formally adopted a corporate governance policy which is designed to encourage Directors to focus their attention on accountability, risk management and ethical conduct.

The Board is responsible for the overall corporate governance of the Company, and it recognises the need for the highest standards of behaviour and accountability. The Board has already developed and will continue to develop strategies for the Company, review strategic objectives, and monitor the performance against those objectives. The overall goals of the corporate governance process are to:

Consistent with these goals, the Board assumes the following primary responsibilities:

The Board has adopted corporate governance policies and practices consistent, where considered appropriate having regard to the Company’s current size and structure, with the ASX Corporate Governance Council’s “Corporate Governance Principles and Recommendations”. Such policies include, but are not limited to, the Board Charter, Board Code of Conduct, Audit and Risk Committee Charter, Continuous Disclosure, Guidelines for Buying and Selling Securities and Risk Management Policies.

The Board also recognises its duty to ensure that its Shareholders and other stakeholders are informed of all major developments affecting the Company’s state of affairs.

Corporate Governance Statement