22
ICON ENERGY LIMITED
2015 Annual Report ABN 61 058 454 569
CORPORATE GOVERNANCE STATEMENT
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 specified
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All Icon Energy personnel not in possession of unpublished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:
• 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 2014 - 2015 financial year, the Company’s Audit and
Risk Management Committee conducted a review of the
Company’s risk management framework and register of key
risks.
All Company policies and procedures were reviewed and
updated where appropriate during the financial year.
Under its charter, the Audit and Risk Management
Committee is responsible for:
• Monitoring the establishment and implementation
by management of the Company’s risk management
system;
• Monitoring the effectiveness of the systems of financial
risk management, governance and internal control;
• Endorsing a Risk Management Policy which describes the
manner in which both risk and the opportunity are identified,
assessed, monitored and managed, including how:
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.
• Sustainable development considerations and principles
integrated into Company decision making;
• Fostering economic growth and business development,
generating government revenue, providing commercial
returns to the industry and contributing 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 seeking opportunities to improve health,
safety and environmental performance in addressing
risks posed by our operations to employees, contractors,
the public and the environment;
• Contributing to the conservation of biodiversity and
protection of the environment through responsible
management of our operations and their impacts;
• Fostering economic and social development of the
communities in which we operate;
• Respecting and protecting human rights and dignity at
our operations and dealing fairly with employees and
others;
• Openly and effectively engaging and reporting with our
communities; and
• 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.
