June 2012 - Sealed Orders

CORPORATE GOVERNANCE

The Board of Strike Energy Limited (Company) is responsible for the corporate governance of the company.   The Board have adopted the corporate governance policies summarised below:


BOARD RESPONSIBILITY

The Board is responsible for setting the strategic direction of the company, select and appoint the Managing Director and oversee Strikes management and business activities.   The responsibility for implementing the objectives and day to day management of the company is delegated to management subject to limits set by approved budgets and corporate strategy approved by the Board.

COMPOISITION OF THE BOARD

The composition of the Board is set by the following principles:

  • A majority of independent non-executive directors;
  • Managing Director should be a full-time employee of the company;
  • An independent non-executive director as Chairman;
  • Role of the Chairman and Managing Director should not be filled by the same person;
  • Board represents a broad range of qualifications, experience and expertise considered of benefit to the company; and
  • Subject to re-election every three years (except for Managing Director).

The Board operates under a Charter which sets out additional information on powers and responsibilities of the Board.   (Click to view Board Charter)

BOARD COMMITTEES

The Board has established the following Board Committees to assist with specific corporate governance duties:

Code of Conduct

A code of conduct has been adopted by all directors and employees.  It requires all business affairs to be conducted legally, ethically and with integrity.  The code provided for reporting of breach of the code by others.  (Click to view Code of Conduct)

SHARE TRADING POLICY

The Board has adopted a policy and procedure on dealing in the company’s securities which prohibits dealing in the company’s securities when individuals are in possession of inside information.   Key Management Personnel (directors and senior management personnel)  may only trade Strike’s securities if they have requested and received approval of the Chairman or 2 other Board members and employees, consultants and contractors of Strike only upon receipt of approval from the Managing Director prior to purchasing or selling securities.  The Policy places clear restrictions on timing of when transactions may occur and requires the Chairperson to be notified when trading of securities in the Company occurs.  Click to view Share Trading Policy.

POLICY & PROCEDURES FOR COMPLIANCE WITH CONTINUOUS DISCLOSURE REQUIREMENTS

Strike has implemented mechanisms designed to ensure compliance with ASX Listing Rule requirements so that all investors will have equal and timely access to material information concerning Strike, including its financial situation, performance, ownership and governance.  These processes also ensure that public announcements are factual and presented in a clear and balanced way, disclosing both positive and negative information. Click here to view the Continuous Disclosure and Shareholder Communication policies.

OTHER GOVERNANCE POLICIES AND PROCEDURES

Separately the group has policies relating tos:

  • appointment of the responsible officer and descriptions of his/her duties
  • identifies areas of risk for the company
  • provides guidance for identifying disclosure material and monitoring share price movements
  • guide for use of trading halts
  • guide for decision making process
  • details on record keeping
  • education of Board and management
  • confidentiality
  • release of disclosure material
  • updating of compliance procedures

DIVERSITY POLICY

Strike recognises that diversity in the workforce results in greater organisational strength and innovation, deeper problem solving ability and the generation of a wider range of new business opportunities.  Strike is committed to attracting and retaining a diverse range of individuals to work in all levels of its business and has put in place a policy to achieve this.  Click to view Diversity Policy.