Page 23 - Icon Energy 2014 Annual Report

CODE OF CONDUCT AND ETHICS
The standard of behaviour required of Icon Energy’s
Directors and employees, as well as of contractors engaged
to perform work on behalf of the Company requires:
• Them to act in the best interest of the Company and
create value for the Company’s shareholders and
stakeholders;
• Them to act honestly and with integrity and fairness in all
dealings with each other and third parties;
• Compliance with all laws and regulations which govern
the group and its operations;
• Avoidance or management of conflicts of interest.
The Company has a process in place for Directors,
employees and third parties to report potential breaches of
the Code of Conduct and Ethics.
CORPORATE GOVERNANCE STATEMENT
PRINCIPLES OF CONDUCT
Further general principles of conduct under the Company’s
Code of Conduct and Ethics, include:
• Ethical and responsible business practices;
• Sustainable development considerations and principles
integrated into Company decision making;
• Foster economic growth and business development,
generate government revenue, provide commercial
returns to the industry and contribute to the wealth
generated by Australia’s natural resource base;
• Health, safety, environmental and community risk
management strategies that are based on sound science,
transparency and effective communication;
• Continuously seek opportunities to improve health, safety
and environmental performance in addressing risks
posed by our operations to employees, contractors, the
public and the environment;
• Contribute to the conservation of biodiversity and
protection of the environment through responsible
management of our operations and their impacts;
• Foster economic and social development of the
communities in which we operate;
• Respect and protect human rights and dignity at our
operations and deal fairly with employees and others;
• Open and effective engagement and reporting with our
communities;
• Directors and Executives of the Company shall 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 ShareTrading Policy.
IDENTIFICATION OF SIGNIFICANT
BUSINESS RISK
The Board receives comprehensive monthly management
reports which enables Directors to identify emerging risk
factors and monitor management’s response to these risks.
TRADING INTHE 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 specified
periods (known as “Trading Windows”) 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:
• The announcement of the half yearly financial results;
• The announcement of the annual financial results;
• The holding of Icon Energy’s annual general meeting;
• The Company issues a prospectus or a cleansing
statement; or
• As the Board otherwise determines.
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.
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 the manner
in which the Group’s material operational and business risks
are being effectively managed.
In the 2013/2014 financial year, the Company’s Audit and
Risk Management Committee conducted a review of the
Company’s risk management framework and register of key
ABN 61 058 454 569 ICON ENERGY LIMITED 2014 Annual Report 23