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Disclosure and Communications

Making Timely and Balanced Disclosure

A continuous disclosure regime operates within the Company.  Board policies require that matters that a person could reasonably expect to have a material effect on the share price are announced to the ASX in a timely manner.  Where a decision is made not to notify the ASX of a particular event or development, the reasons for non-notification are determined by the Board. 

The company secretary, in consultation with the managing director, is the person responsible for overseeing and co-ordinating disclosure of information to ASX as well as communicating with the ASX.  Given the board and management structure it is not considered that formal written policies and procedures are required at this time.  As such the Company has not met CGC Recommendation 5.1.

Directors receive copies of all announcements immediately after notification to the ASX.  All announcements are posted on the Company’s website.

Respecting the Rights of Shareholders

The board’s fundamental responsibility to shareholders is to work towards meeting the Company’s objectives so as to add value for them. 

The board seeks to inform shareholders of all major developments affecting the Company by:

• preparing half yearly and yearly financial reports;
• preparing quarterly cash flow reports and reports as to activities;
• making announcement in accordance with the listing rules and the continuous disclosure obligations;
• annually, and more regularly if required, holding a general meeting of shareholders and forwarding to them the annual report together with notice of meeting and proxy form;
• voluntarily releasing other information which it believes is in the interest of shareholders; and
• hosting all of the above on the Company’s website.

At the Annual General Meeting, questions and comments from Shareholders are encouraged.  In the interests of clarity, questions on operational matters may be answered by the Chief Executive or another appropriate member of management.  The external auditor attends the Company’s Annual General Meeting and is available to respond to questions about the conduct of the audit and the preparation and content of the Independent Audit Report.