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The Board of Directors of Axiom Mining Limited ('the
Company') is responsible for the corporate governance
of the group. The Board guides and monitors the
business and affairs of the Company on behalf of
shareholders by whom it is elected and to whom it is
accountable. Accordingly, the Board has adopted a
Corporate Governance Charter, guided by the ASX
Corporate Governance Council’s Corporate Governance
Principle and Recommendations third edition released
in March 2014.
In accordance with the Council’s recommendations, this
section contains specific information, and reports on
the Company’s adoption of the Council’s best practice
recommendations on an exception basis. Disclosure
is made of any recommendations that have not been
adopted by the Company, together with the reasons
why they have not been adopted. The Company’s
corporate governance principles and policies are therefore
structured as follows:
Principle 1
Lay solid foundations for
management and oversight
Principle 2
Structure the Board to add value
Principle 3
Act ethically and responsibly
Principle 4
Safeguard integrity in corporate reporting
Principle 5
Make timely and balanced disclosure
Principle 6
Respect the rights of security holders
Principle 7
Recognise and manage risk
Principle 8
Remunerate fairly and responsibly
The corporate governance practices of the Company
are compliant with the Council’s best practice
recommendations to the extent that they are relevant to
the Company’s business activities and the stage of its
development as a listed exploration and mining company.
The Board will consider on an ongoing basis its corporate
governance procedures and whether they are sufficient
given the Company’s operations and size.
Principle 1: Lay solid foundations
for management and oversight
A listed entity should establish and disclose the respective
roles and responsibilities of its board and management
and how their performance is monitored and evaluated.
The Board and its responsibilities
The Board operates in accordance with the following
principles and guidelines:
–
The Board does comprise a majority of Non-Executive
Directors
–
The Chairperson is an independent Director
–
The Board does comprise Directors with an appropriate
range of qualifications and expertise
–
The terms and conditions of the appointment of
Non-Executive Directors are set out in a letter of
appointment
–
The Company Secretary is accountable directly to
the board, through the chair, on all matters to do with
proper functioning of the board.
The Board is of a size that is satisfactory for its current
stage of development and it schedules formal quarterly
board meetings and other meetings as and when required
having regard to the relevant business activities.
Corporate
Governance
AXIOM MINING LIMITED
ANNUAL REPORT 2015
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