Corporate Governance

The Company has established and implemented certain policies, to ensure that:

1. it is led by an effective and efficient Board which is collectively responsible for the long-term success of the Company;
   
   
2. the board have the appropriate balance of skills, experience, independence, and knowledge of the Company to enable them to discharge their respective duties and responsibilities effectively;
   
   
3. the Board establish a formal and transparent arrangement for considering how it applies the corporate reporting, risk management and internal control principles and for maintaining an appropriate relationship with the Company’s auditors; and
   
   
4. there is a dialogue with shareholders based on the mutual understanding of objectives.

The Board have collective responsibility and legal obligation to promote the interests of the Company and as such define the corporate governance arrangements. Ultimate responsibility for the quality of, and approach to corporate governance lies with the Board.