MATTERS RESERVED FOR BOARD
Annual
- Setting and reviewing
- vision
- goals (short, medium and long term)
- strategy
- Approving the annual strategic plan and major operating plans
- Approving the annual budget (and long term budget)
- Reviewing and providing feedback on the performance of the CEO and CFO/Company Secretary
- Reviewing the performance of the Board, the individual Directors and the committees
- Reviewing/approving the full-year financial statements and reports and profit announcement, and where relevant, the dividend announcement
- Approving the annual report and notice of AGM.
Half-Year
- Reviewing/approving the half-year financial statements and reports and profit and dividend announcement.
Monthly
- Reviewing performance of the company in meeting objectives, including presentations on key areas for success, as determined by the Board.
- Consider reports and recommendations from committees.
Ad Hoc
- Determine all policies governing the company and ensuring that adequate procedures are in place to manage the identified risks.
- Appointing and approving the terms and conditions of appointment of the CEO and CFO/Company Secretary through the remuneration committee
- Endorsing the terms and conditions of other senior executives reporting to the CEO through the remuneration committee
- Establish and determine powers and functions of committees and reviewing those powers and functions annually or as circumstances demand
- Approving
- setting authority levels for acquisitions and disposals of property, plant and equipment
- setting authority levels for operational expenditure outside the budget
- mergers, acquisitions and disposals of companies, businesses and major products
- leases, in excess of 1 year
- sale/licensing of trade marks, patents
- Ensuring procedures in place so that the sharemarket is promptly and adequately informed of all material matters