references
• Avoidanceand/ormanagementofconflictsof interest; • Themtoactinthebestinterestofthecompanyand create value for the company’s shareholders and stakeholders; • Themtoacthonestlyandwithintegrityandfairness in all dealings with each other and third parties. The Company has a process in place for Directors, employees and third parties to report potential breaches of the Code of Conduct and Ethics.
• Fostereconomicgrowthandbusinessdevelopment, generate government revenue, provide commercial returns to the industry and contribute to the wealth generated by Australia’s natural resource base;
• Continuouslyseekopportunitiestoimprovehealth, safety and environmental performance in addressing risks posed by our operations to employees, contractors, the public and the environment; • Contributetotheconservationofbiodiversityand protection of the environment through responsible management of our operations and their impacts; • Fostereconomicandsocialdevelopmentofthe communities in which we operate; • Respectandprotecthumanrightsanddignityat our operations and deal fairly with employees and others; • Openandeffectiveengagementandreportingwith our communities; • DirectorsandExecutivesoftheCompanyshall notify the Chairman or Managing Director before trading in the Company’s shares and shall not trade in the shares other than in accordance with the Company’s Share Trading Policy.
TRADING IN THE COMPANY’S SECURITIES BY DIRECTORS AND EMPLOYEES
The Board has a formal policy regarding trading in the securities of the Company by Directors and employees. The Company’s Share Trading Policy provides for speciï¬ed periods (known as “Trading Windowsâ€) in which share trading is permitted and blackout periods when trading is not permitted. All Icon Energy personnel not in possession of unpublished price-sensitive information may buy, sell or otherwise deal in Icon Energy’s securities during Trading Windows which occur in the three week period commencing after: • Theannouncementofthehalfyearlyfinancial results; • Theannouncementoftheannualfinancialresults; • TheholdingofIconEnergy’sannualgeneralmeeting; • Thecompanyissuesaprospectusoracleansing statement; or • AstheBoardotherwisedetermines. Under the Policy Directors and Employees who wish to trade in the Company’s securities must seek prior clearance in writing from the Chairman (in the case of Directors), the Managing Director (for the Chairman or Secretary) or the Secretary (for other employees). The provisions of the Corporations Act 2001 and the Listing Rules of the ASX require advice to the ASX of any transactions by the Directors in the securities of the Company.
IDENTIFICATION OF SIGNIFICANT BUSINESS RISK
The Board meets at least every three months and receives comprehensive monthly management reports which enables the Board to identify emerging risk factors and monitor management’s response to these risks.
MANAGEMENT OF ENTERPRISE AND OPERATIONAL RISK
The Board has the responsibility for setting the Company’s risk management policy. The Managing Director, in conjunction with senior executives, is responsible for the development, implementation and management of Icon Energy’s risk management and internal control framework. The Managing Director reports to the Board on the management of these functions, including as to whether the Group’s material operational and business risks are being effectively managed. In 2013, the Company’s Risk Management Policy, framework and procedures were revised following
PRINCIPLES OF CONDUCT
Further general principles of conduct under the Company’s Code of Conduct and Ethics, include: • Ethicalandresponsiblebusinesspractices; • Sustainabledevelopmentconsiderationsand principles integrated into Company decision making;
ICON ENERGY LIMITED 2013 Annual Report
ABN 61 058 454 569
CORPORATE GOVERNANCE STATEMENT
• Health,safety,environmentalandcommunityrisk management strategies that are based on sound science, transparency and effective communication;
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