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ASX Corporate Governance

In response to a change in the listing rules Fyfe Corp developed a kit to enable ASX listed companies to prepare.


What are the ASX Corporate Governance Council's Best Practice Recommendations all about?

The council of industry representatives was formed to restore investor confidence by developing guidelines for company's reflecting international best practice. They contain:
  • Principles of Corporate Governance; and
  • 28 Best practice recommendations,
Each company/-listed entity must be able to report performance against the guidelines, and prepare the annual report to comply with ASX Listing Rule requirements.

What are the key dates?

  • The council was established in August 2002;
  • Deadline for compliance: A company's first financial year commencing after January 2003.

How long will it take to prepare?

This depends upon the complexity of the company, however, ASX advises the following approach:
  • Understand the obligations by reading the materials;
  • Plan and prepare to transition early with board and management; and
  • Develop a website to assist with shareholder communication.

What are the essential 10 Principles?

  1. Lay solid foundations for management and oversight
  2. Structure the board to add value
  3. Promote Ethical and responsible decision making
  4. Safeguard integrity in financial reporting
  5. Make timely and balanced disclosure
  6. Respect the rights of shareholders
  7. Recognise and manage risk
  8. Encourage enhanced performance
  9. Remunerate fairly and responsibly
  10. Recognise the legitimate interests of stakeholders

Example of materials required for implementing the best practice recommendations:



  • Board charter;
  • Director's letter of appointment;
  • Annual report content checklist for new guidelines;
  • Independent director assessment;
  • Code of conduct;
  • Trading Policy;
  • Audit committee charter;
  • Continuous disclosure policy;
  • Shareholder communication strategy;
  • Risk management plan;
  • Compliance plan;
  • Performance evaluation;
  • Remuneration committee charter.

Proposed Solution

Our solution is the "Do It Yourself" ASX Corporate Governance Kit. This is a cost effective, practical aid for getting compliant and has been created from our experience in public company compliance, project management and administration.

Kit Content

The kit will be delivered in hardcopy and on CD Rom and cover:
  1. Detailed checklist of critical information for you to assemble;
  2. Convenient selection of relevant ASX corporate governance council information for you to review;
  3. Sample templates for adopting processes to comply for you to adapt to your business;
  4. Detailed checklist for information to be included in the annual report and made available publicly; and
  5. Step-by-step guide of recommended steps to work through the process to make your business comply, and then implement the guidelines.

Website

The best practice guidelines recommend that companies have a website as a part of shareholder/ stakeholder communications. This ought to display, at least, information that should be publicly available e.g. Annual report, Director's Share Trading Policy etc.

As a turnkey solution Fyfe Corp has put together a package which enables companies to get up and running on their own website smoothly with a basic brochure-style website. It includes:
  • Up to 7 x content pages
  • 1 x 'Contact Us' form (results sent via email)
  • Search engine friendly - we make sure you get into google.com!

Next Steps

Please Click Here, fill in the form for the kit or the kit and website package, enclose a cheque for the total and send to the address as marked to receive your kit and get started.

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