Good corporate governance is the cornerstone responsibility of Panorama Synergy. The Board is committed to represent and advance shareholders' interests for the long term and to protect the interests of all stakeholders. It recognises the need for the company to operate with the highest standards of ethical behaviour and accountability.
To fulfil this role the Board is responsible for the company’s strategic direction, establishing goals for management and monitoring the achievement of these goals.
The Board’s responsibilities are to:
- protect and enhance shareholder value
- formulate, review and approve the company’s objectives and strategic direction
- approve all significant business transactions including acquisitions, divestments and capital expenditure
- monitor the company’s financial performance by reviewing and approving budgets and monitoring results
- ensure that adequate internal control systems and procedures exist, and compliance with these systems and procedures is maintained
- identify significant business risks and ensure that such risks are adequately managed
- review the performance and remuneration of executive directors and key staff
- establish and maintain appropriate ethical standards
- evaluate and, where appropriate, adopt with or without modification the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations.
Subject to the exceptions outlined below, the company has adopted the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations to determine an appropriate system of control and accountability that best fits its business and operations commensurate with these guidelines.
The following statements, policies and procedures set the framework for the company’s corporate governance practices:
Policy and Procedures for selection and appointment of new directors
Code of Conduct for company executives
Securities Trading Policy
Audit Committee Charter
Summary of procedure for selection of external auditor and rotation of external auditor
Continuous Disclosure Policy
Shareholder Communications Strategy
Risk Management Program
Remuneration Committee Charter
Process for performance evaluation of the Board, board committees, individual directors and key executives.
As the company’s activities develop in size, nature and scope, the implementation of additional corporate governance structures will be given further consideration.
Panorama Synergy is committed to operating in a safe and responsible manner, and to respecting the health of its employees, the environment and the communities it serves.
FY16 Corporate Governance Statement