Corporate Governance

The Board has adopted comprehensive systems of control and accountability as the basis for the administration of suitable corporate governance practices.

In light of the Company's current size and nature, the Board considers that the current corporate governance framework provides adequate governance direction, consistent with the Company's current needs. As the Company's activities develop in size, nature and scale, the Board will amend or add to the Company's corporate governance framework as appropriate. The Company's main corporate governance policies and practices are outlined below.

Board Charter

The Board has adopted a board charter which prescribes certain principles for the operation and structure of the Board. The charter also establishes certain principles and procedures in accordance with which the Board is required to act and allocates the functions of the Company between the Board and management of the Company.

The Charter provides that the Company will strive to ensure that a majority of the Board are independent Directors. At present, 2 of the 3 Directors are Executive Directors. The Chairman of the Board is independent. Given the current size of the Company's operations, the Board

Code of Conduct

The Board has adopted a code of conduct which sets basic principles of business conduct to which the directors, officers and employees of the Company must adhere.

Continuous Disclosure Policy

The Board has adopted a continuous disclosure policy to ensure the Company will be in a position to comply with its disclosure obligations following admission to the Official List.

Under the policy, the Company Secretary will have primary responsibility for ensuring the Company complies with its continuous disclosure obligations.

Further details regarding the Company's approach to continuous disclosure are set out in Section 10.7 of this Prospectus.

Securities Trading Policy

The Board has adopted a policy that sets guidelines on the sale and purchase of securities in the Company by Directors and "key management personnel".

Broadly, the policy prohibits trading during designated "blackout periods" and recommends trading only during certain "trading windows". The policy also generally provides that written acknowledgement from the Chairman should be obtained prior to trading.

Diversity Policy

The Board values diversity and recognises the benefits it can bring to the organisation's ability to achieve its goals. The Company has therefore adopted a diversity policy, outlining the Company's diversity objectives. In particular, under the policy the Board will establish measurable objectives for achieving gender diversity when it has grown to a point where it is appropriate to do so.

Corporate Governance Plan

Please click on the following link to download a copy of the Company's Corporate Governance Plan.