CORPORATE

The Board is responsible for the overall corporate governance of the Company, which includes:

• protection and enhancement of Shareholder value;
• formulation, review and approval of the objectives and strategic direction of the Company;
• approving all significant business transactions including acquisitions, divestments and capital expenditure;
• monitoring the financial performance of the Company by reviewing and approving budgets and monitoring results;
• ensuring that adequate internal control systems and procedures exist and that compliance with these systems and procedures is maintained; 
• the identification of significant business risks and ensuring that such risks are adequately managed;
• the review of performance and remuneration of executive directors and key staff;
• the establishment and maintenance of appropriate ethical standards; and
• where appropriate, adopting with or without modification, the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations.

The Board recognises the need for the Company to operate with the highest standards of behaviour and accountability. Subject to the exceptions set out in its annual Corporate Governance Statement, the Company has adopted the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations to determine an appropriate system of control and accountability to best fit the business and operations commensurate with these principles and recommendations.