Corporate Governance
Governance Framework at ConnectEast
ConnectEast Group has adopted a set of objectives and guiding principles that underlie our approach to corporate governance and the conduct of our daily activities. This approach includes a commitment to conducting our activities ethically and lawfully, and aims to create value for our unitholders while providing accountability and internal control systems commensurate with the risks involved.
As ConnectEast Group is listed on the Australian Securities Exchange (ASX), we pay particular attention to Australian regulatory requirements and the Corporate Governance Principles and Recommendations published by the ASX Corporate Governance Council (ASXCGC). Our corporate governance statement is prepared by reference to the ASXCGC’s principles and recommendations published in March 2003, which applied during the year ended 30 June 2007. We will report next year against the second edition of the ASXCGC’s principles and recommendations, published in August 2007.
We consider that our corporate governance arrangements during the year ended 30 June 2007 and up to the date of our corporate governance statement (28 August 2007) are consistent with the ASXCGC’s recommendations, except for recommendation 2.1 (a majority of the board should be independent directors). This is explained in section 2.3 of our corporate governance statement. Recommendation 9.4 is not applicable as we do not at present provide any equity-based remuneration to executives.
As described in our corporate governance statement, we have published our key governance policies on our website under the Investor Centre tab. We have also published on our website a compliance checklist indicating specifically how our corporate governance arrangements are consistent with the ASXCGC’s recommendations.
Click here to view ConnectEast’s governance documents.