Page 78 - Sundance Resources Ltd Annual Report 2013

76 SUNDANCE RESOURCES LIMITED ANNUAL REPORT 2013
corporate government
statement (continued)
FOR THE YEAR ENDED 30 JUNE 2013
PRINCIPLE 6: RESPECTING THE RIGHTS OF SHAREHOLDERS
The Board’s fundamental responsibility to shareholders is to work towards meeting the Company’s objectives so as
to add value for them. The Board’s policy is to seek to inform shareholders of all major developments affecting the
Company by:
• preparing half yearly and yearly financial reports;
• preparing quarterly cash flow reports and reports as to activities;
• making announcements in accordance with the Listing rules and the Continuous Disclosure obligations;
• hosting all of the above on the Company’s website;
• annually, and more regularly if required, holding a general meeting of shareholders and forwarding to them the
annual report (if requested) together with notice of meeting and proxy form; and
• voluntarily releasing other information to the market as a whole which it believes is in the interest of shareholders.
The Company has a Shareholder Communications Policy, a copy of which is on the Company’s website.
The Annual General Meeting (‘AGM’) enables shareholders to receive the reports and participate in the meeting by
attendance or by written communication. The Board seeks to notify all shareholders so they can be fully informed
annually for the voting on the appointment of directors and so as to enable them to have discussion at the AGM
with the directors and/or the auditor of the Company who is invited to the AGM. Shareholders that have made an
election receive a copy of the Company’s Annual Report by mail; otherwise, the Annual Report is available on the
Company’s website.
CORPORATE GOVERNANCE PRINCIPLES
AND RECOMMENDATIONS (continued)
PRINCIPLE 7: RECOGNISING AND MANAGING RISK
The Board has adopted a formal Risk Management Policy and associated procedures so as to formalise the
process of managing material business risks of the Company. A copy of the Policy is available on the
Company’s website.
The Policy requires management to design and implement risk management processes and systems to identify and
manage the Company’s material business risks and report to the Board on whether those risks are being managed
effectively. For the year ended 30 June 2013 management has reported to the Board that the material risks are
being appropriately managed.
The Board is regularly briefed and involved in discussions in relation to many of the material business risks facing
the Company. Risk Management is a standing item at all Board Meetings.
The Chief Executive Officer is accountable to the Board, through its Audit and Risk Management Committee, for
the implementation of the risk management process and is ultimately responsible for the management of risks in the
business.
All Sundance employees are responsible for managing risks within their area of accountability and responsibility.
The Chief Executive Officer and the Chief Financial Officer are required to make a declaration in accordance with
section 295A of the Corporations Act that the Company’s financial reports present a true and fair view in all material
respects of the Company’s financial condition and operational results and are in accordance with relevant accounting
standards, and to provide assurance that the declaration is founded on a sound system of risk management and
internal control, and that the system is operating effectively in all material respects in relation to financial reporting
risks. For the year ended 30 June 2013 the declarations have been made by the Chief Executive Officer and the
Business Services Manager.