The Board, Management and staff of Mitchell Services Limited (“the Company”) are committed to the highest standards of corporate governance.
The Company is a listed Australian resource and energy industry service provider whose operations are conducted in accordance with the laws and regulations of the various jurisdictions in Australia, including the Listing Rules of the Australian Securities Exchange (ASX). International operations are also conducted in accordance with the laws and regulations of the countries in which the Company operates.
The ASX Listing Rules refer to Corporate Governance Principles and Recommendations issued by the ASX Corporate Governance Council with the current version being the Second Edition issued in 2007 as amended in 2010. The Third Edition of the Principles and Recommendations has been finalised and released and are to apply from 1 July 2014.
The Board of the Company in conjunction with management has developed, implemented and now works under a set of well-established corporate governance policies, to the extent that they are consistent with the structure and objectives of the Company. These reinforce the responsibilities of all Directors in accordance with the requirements of the Corporations Act 2001 and the ASX Listing Rules. The policies address issues outlined in both the current Amended Second Edition and the new Third Edition.
The corporate governance policies address:
- Roles and Responsibilities of Board and Management
- Structure of the Board
- Code of Conduct and Ethics
- Financial Reporting
- Continuous Disclosure
- Security Holder Communications
- Risk Management
- Security Trading
- Anti-Bribery and Corruption Policy
- Charters of the Board and Board Committees
Further, the Board has approved a Charter for its operation and has established and approved charters for two sub-Committees, the Audit and Risk Committee and the Remuneration and Nomination Committee to undertake oversight of a number of the policy areas.
The Board updates its corporate governance policies on an annual basis and as required, to ensure that the Company’s policies remain in accordance with best practice, including compliance with the ASX Corporate Governance Principles and Recommendations.