African Petroleum Corporation Limited (“African Petroleum”) is listed on the Australian Securities Exchange (“ASX”) and National Stock Exchange of Australia (“NSX”). The Board of Directors of African Petroleum is responsible for establishing the corporate governance framework of the Company having regard to the ASX Corporate Governance Council’s (CGC) Corporate Governance Principles and Recommendations (Recommendations) and CGC published guidelines. The Board of African Petroleum is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate with African Petroleum's needs. It also attempts to meet the extensive range of varying legal, regulatory and governance requirements applicable to publicly listed companies in Australia. 

The Board supports the principles of effective corporate governance and is committed to adopting high standards of performance and accountability, commensurate with the size of the Company and its available resources. Accordingly, the Board has adopted corporate governance principles and practices designed to promote responsible management and conduct of the Company's business. 

The Company are pleased to make the following information on its corporate governance available to its shareholders on our website. Our Corporate Governance Plan covers the following areas: 

  • Board Charter;
  • Corporate Code of Conduct;
  • Audit and Risk Committee Charter;
  • Remuneration Committee Charter;
  • Nomination Committee Charter;
  • Performance Evaluation;
  • Continuous Disclosure;
  • Risk Management; and
  • Guidelines for Buying and Selling Securities (Securities Trading Policy).


Corporate Governance Policy Statement 

In accordance with ASX Listing Rule 4.10.3, the corporate governance statement included in the Company’s annual report discloses the extent to which the Company has followed the CGC Recommendations by detailing the Recommendations that have not been adopted by the Company and the reasons why they have not been adopted. The corporate governance practices disclosed by African Petroleum in the corporate governance statement are in place throughout the reporting year. 

Corporate governance disclosures and explanations will appear on our website upon lodgement of our Annual Report with the ASX. To view a PDF copy of Global Iron's current corporate governance disclosure statement please click here.

Information current as at 1 August 2010.
 

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