corporate governance

    Disclosure Policy

    Disclosure Requirements

  1. The Company recognises its duties pursuant to the continuous disclosure rules of the ASX Listing Rules to keep the market fully informed of information which may have a material effect on the price or value of the Company’s securities.
  2. Subject to certain exceptions (in ASX Listing Rule 3.1A), the Company is required to immediately release to the market information that a reasonable person would expect to have a material effect on the price or value of the Company’s securities.

    3. Responsibilities of directors, officers and employees

  3. The Board as a whole is primary responsibility for ensuring that the Company complies with its disclosure obligations and for deciding what information will be disclosed. Subject to delegation, the Board is also responsible for authorising all ASX announcements and responses of the Company to ASX queries
  4. Every director, officer and employee of the Company is to be informed of the requirements of this policy by the Chairperson (in the case of directors) and by the Chief Executive Officer (in the case of other officers and employees) and must advise the Chief Executive Officer, Chairperson or Company Secretary as soon as possible (and prior to disclosure to anyone else) of matters which they believe may be required to be disclosed.

    5. Authorised Disclosure Officer

  5. The Board has delegated its primary responsibilities to communicate with ASX to the following Authorised Officer:
    1. the Company Secretary; or
    2. in the absence of the Company Secretary, the Chief Executive Officer or a designated Executive Director who is authorised to act in that capacity by the Board.

    6. Responsibilities of Authorised Disclosure Officer

  6. Subject to Board intervention on a particular matter, the Authorised Officer is responsible for the following:
    1. monitoring information required to be disclosed to ASX and coordinating the Company’s compliance with its disclosure obligations;
    2. ASX communication on behalf of the Company, authorising Company announcements and lodging documents with ASX;
    3. requesting a trading halt in order to prevent or correct a false market;
    4. providing education on these disclosure policies to the Company’s directors, officers and employees; and
    5. ensuring there are vetting and authorisation processes designed to ensure that Company announcements:
      1. are made in a timely manner;
      2. are factual;
      3. do not omit material information;
      4. are expressed in a clear and objective manner that allows investors to assess the impact of the information when making investment decisions.
    6. An authorised Disclosure Officer must be available to communicate with the ASX at all reasonable times, and are responsible for providing contact details and other information to ASX to ensure such availability.

    7. Measures to avoid a false market

  7. In the event that ASX requests information from the Company in order to correct or prevent a false market in the Company’s securities, the Company will comply with that request. The extent of information to be provided by the Company will depend on the circumstances of the ASX request.
    1. If the Company is unable to give sufficient information to the ASX to correct or prevent a false market, the Company will request a trading halt.
    2. If the full Board is available to consider the decision of whether to call a trading halt, only they may authorise it, but otherwise, the Authorised Disclosure Officer may do so.

    8. ASX Announcements

  8. Company announcements of price sensitive information are subjected to the following vetting and authorisation process to ensure their clarity, timely release, factual accuracy and inclusion of all material information
    1. The Authorised Officer must prepare ASX announcements when required to fulfil the Company’s disclosure obligations.
    2. Proposed announcements must be approved by the Chairperson or in his or her absence, urgent announcements may be approved by the Chief Executive Officer or other person expressly authorised by the Board.
    3. Announcements must first be released to the ASX Announcements Platform before being disclosed to any other private or public party (such as the media). After release of the announcement, it must be displayed on the Company’s website, following which the Company can then release such information to media and other information outlets.
    4. Wherever practical, all announcements must be provided to the directors, Chief Executive Officer and Company Secretary prior to release to the market for approval and comment.

    9. Confidentiality and unauthorised disclosure

  9. The Company must safeguard the confidentiality of information which a reasonable person would expect to have a material effect on the price or value of the Company’s securities. If such information is inadvertently disclosed, the Authorised Disclosure Officer must be informed of the same and must refer it to the Chairperson and Chief Executive Officer (or equivalent) as soon as possible.

    10. External communications and Media Relations

  10. The Chairperson or Chief Executive Officer (or equivalent) are authorised to communicate on behalf of the Company with the media, government and regulatory authorities, stock brokers, analysts and other interested parties or the public at large. No other person may do so unless specifically authorised by the Chairperson or Chief Executive Officer (or equivalent).
    1. All requests for information from the Company must be referred to the Authorised Disclosure Officer for provision to the Chairperson and Chief Executive Officer.

    11. Breach of Disclosure Policy

  11. Serious breaches of this disclosure policy may be treated with disciplinary action, including dismissal, at the discretion of the Board.
    1. Where the breach is alleged against a member of the Board, that director will be excluded from the Board’s consideration of the breach and any disciplinary action for the Company to take.
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