Background
Section 1001A of the Corporations Act and Rule 3.1 of the Australian Securities Exchange (ASX) Listing Rules, require the company to make public any information of which it becomes aware and which a reasonable person would expect would have a material impact upon the operations or financial position of the company or upon the price or value of the company’s shares.
The Board of Directors is acutely aware of the continuous disclosure regime and the disclosure requirements of the ASX Listing Rules.
The Board of Directors is also aware of the requirements of timely reporting to other statutory, government and semi-government bodies including the Australian Securities and Investments Commission (ASIC), the Australian Bureau of Statistics, and Primary Industries and Resources South Australia (PIRSA) or relevant authorities in other states.
Company Policy
The company releases its annual report and half-yearly report to the ASX and ASIC and also quarterly reports and special announcements to the ASX. Copies of these reports and announcements are disclosed on the company’s website.
In regard to special announcements to ASX (and therefore shareholders and the public) the Board of Directors determines whether particular information should be announced, bearing in mind both materiality and the importance of full and frank disclosure.
In addition, shareholders receive the company’s annual report and notice of meetings as well as copies of the quarterly reports to ASX, usually with an accompanying letter from the Chairman of the Board.
All announcements to ASX are either approved by all the directors at a Board Meeting or verbally. Any verbal approval is ratified by directors at the next Board Meeting following the announcement, report or release.
Announcements which relate to joint ventures in which the company is involved are agreed with the other venturer before release.
Presentations to stockbrokers, analysts, or at conferences are released to the ASX in advance. This policy relates especially to presentations which may contain information not already in the public domain.
The responsibility for the release of company information rests with the Managing Director who liaises with the Company Secretary for the ultimate dispatch or release of the information.
