Grand Gulf Energy Limited has released its Corporate Governance Statement, outlining its adherence to ASX Corporate Governance Council principles and recommendations. The statement covers a range of governance practices, including the disclosure of values, codes of conduct, whistleblower policies, and anti-bribery and corruption policies.
Material actions and disclosures
Grand Gulf Energy Limited has disclosed its values and a code of conduct for directors, senior executives, and employees. The company also has a whistleblower policy and an anti-bribery and corruption policy, which are detailed on its website.
The company has not followed recommendations 2.4, 2.5, and 2.6, stating that it is an externally managed entity and these recommendations are not applicable. Additionally, the company has not followed recommendations 3.1, 3.2, 3.3, and 3.4, citing the same reason.
Grand Gulf Energy Limited has also disclosed its process for evaluating the performance of its senior executives and the board’s performance evaluation process.
The company has not followed recommendations 4.1, 4.2, and 4.3, stating that it does not have an audit committee and has disclosed the processes it employs to independently verify the integrity of its corporate reporting.
Grand Gulf Energy Limited has disclosed its process for overseeing risk management and has not followed recommendations 7.1 and 7.2, stating that it does not have a risk committee and has disclosed the processes it employs for overseeing its risk management framework.
The company has not followed recommendations 8.1 and 8.2, stating that it does not have a remuneration committee and has disclosed the processes it employs for setting the level and composition of remuneration for directors and senior executives.
Grand Gulf Energy Limited’s Corporate Governance Statement is available on its website at https://grandgulfenergy.com/corporate-governance/.