 |
| 
|
| Corporate Governance
Po Valley Energy Limited is listed on the Australian Stock Exchange. As such, it is subject to the Australian Stock Exchange Limited Listing Rules, the Corporations Act 2001 and other Australian and international laws and regulations.
In addition to strict legal compliance, Po Valley Energy is also committed to a corporate governance regime.
Information central to Po Valley Energy Limited's corporate governance practices are set out in the documents included in this section.
CONSTITUTION
The Constitution is the Company's key governance document. The Board must ensure that it complies at all times with the provisions of the Constitution.
CORPORATE GOVERNANCE STATEMENT
The Directors are committed to the principles underpinning the best practice in corporate governance. The Directors have noted carefully the guidance on the principles of corporate governance issued by the ASX. The Directors support the intent of these principles, noting that some recognition is required in their practical application given the limited size and scope of the Company at this time.
The Directors' overriding objective is to increase shareholder value within an appropriate framework that protects the rights and enhances the interests of Shareholders and ensures the Company is properly managed. A description of the Company's main corporate governance can be selected in this section.
CODE OF CONDUCT
The Directors and employees have undertaken through a code of conduct to perform their duties with honesty, integrity, care and diligence, according to the law and in a manner that reflects the highest standards of governance.
POLICIES
Hydrocarbon Reserves Policy
The aim of this policy is to implement processes, standards and controls to provide reliable hydrocarbon reserves estimates, consistent with current industry best practice, to facilitate effective business management decision-making and clear communication of the Company's reserves to all clients and stakeholders.
Continuous Disclosure Policy
The Company's disclosure policy and procedures are designed to comply with all applicable laws and regulations, in particular, the ASX Listing Rules, and to ensure that investors can readily have sufficient information to ascribe to a fair value to the Company's securities, understand the Company's objectives and strategies and examine the Company's financial position and growth prospects.
In this context, the legitimate information needs of investors are balanced with the Company's need to retain confidentiality of commercially sensitive of proprietary information.
Securities Trading Policy
The Securities Trading Policy provides guidance to Directors and employees on the purchase and sale of securities of the Company in order that breaches of the Corporations Act do not occur and to ensure dealings by Directors and employees in the Company's securities are fair, and are seen to be fair.
Shareholder Communications Policy
The purpose of the Shareholder Communications Policy is to promote effective communications with shareholders of the Company, ensure all information relevant to their shareholding is disseminated to shareholders and encourage effective participation by shareholders at the Company's General Meetings.
Risk Management Policy
Risk recognition and management are viewed as integral to the Company's objectives of creating and maintaining shareholder value, and the successful execution of the Company's strategies in gas exploration and development. The Board as a whole is responsible for oversight of the processes by which risk is considered for both ongoing operations and prospective actions. In specific areas, it is assisted by the Audit and Risk Committee. Management is responsible for establishing procedures which provide assurance that major business risks are identified, consistently assessed and appropriately addressed.
COMMITTEE CHARTER
Po Valley Energy is committed to best practice corporate governance and has established committees of non-executive Directors to focus on key aspects of the Company's governance. Po Valley's committees are responsible for considering detailed issues and making recommendations to the Board. The Board has approved charters for each of the Company's committees.
To provide shareholders with an appreciation of the working of the committees, the following committee charters are available for review:
|
|
| |
