Matters reserved to the Board
Annual
- Setting and reviewing
- vision
- goals (short, medium and long term)
- strategy
- Approving strategic and major operating plans
- Approving the annual budget
- Reviewing and providing feedback on the performance of the CEO, CFO and company secretary
- Reviewing the performance of the Board, the individual Directors and the committees regularly
- Reviewing/approving the full-year financial statements and reports and profit and dividend announcement
- Approving the annual report and notice of AGM.
Half-year
- Reviewing/approving the half-year financial statements and reports and profit and dividend announcement.
Monthly
- Reviewing performance of the company in meeting objectives, including presentations on key areas for success, as determined by the Board.
- Consider reports and recommendations from committees.
Ad hoc
- Determine all policies governing the company and ensuring that adequate procedures are in place to manage the identified risks.
- Appointing and approving the terms and conditions of appointment of the CEO CFO and company secretary
- Endorsing the terms and conditions of senior executives.
- Establish and determine powers and functions of committees and reviewing those powers and functions every 2 years or as circumstances demand
- Approving
- capital expenditures in excess of $80,000;
- mergers, acquisitions and disposals of businesses;
- sale of assets – value and/or proceeds in excess of $250,000;
- leases, in excess of 1 year term;
- sale/licensing of trade marks, patents; and,
- new finance facilities and material variations to existing finance facilities.
- Ensuring procedures are in place so that the share market is promptly and adequately informed of all material matters.
