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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Global Petroleum Limited | LSE:GBP | London | Ordinary Share | AU000000GBP6 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0575 | 0.055 | 0.06 | 0.0575 | 0.0575 | 0.0575 | 7,016,666 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -1.28M | -0.0010 | -0.60 | 774.07k |
TIDMGBP
RNS Number : 1728L
Global Petroleum Ltd
29 September 2016
Rules 4.7.3 and 4.10.3
Appendix 4G
Key to Disclosures
Corporate Governance Council Principles and Recommendations
Name of entity: ------------------------- Global Petroleum Limited ------------------------- ABN / ARBN: Financial year ended: --------------- ---------------------- 68 064 120 896 30 June 2016 --------------- ----------------------
Our corporate governance statement for the above period above can be found at:
These pages of our annual report: This URL on our www.globalpetroleum.com.au website:
The Corporate Governance Statement is accurate and up to date as at 28 September 2016 and has been approved by the board.
The annexure includes a key to where our corporate governance disclosures can be located.
Date: 28 September 2016 Name of Secretary Damien Paul Cronin authorising lodgement:
ANNEXURE - KEY TO CORPORATE GOVERNANCE DISCLOSURES
Corporate Governance Council We have followed the We have NOT followed the recommendation recommendation recommendation in full in full for the whole of for the whole of the period the period above. We have above. We have disclosed disclosed ... ... ------------------------------------------- ----------------------------------- ------------------------------------ Principle 1 - Lay solid foundations for management and oversight ---------------------------------------------------------------------------------------------------------------------- 1.1 A listed entity should ... the fact that we follow an explanation why that disclose: this recommendation: is so in our Corporate (a) the respective roles in our Corporate Governance Governance Statement OR and responsibilities of Statement OR we are an externally managed its board and management; at www.globalpetroleum.com.au entity and this recommendation and ... and information about is therefore not applicable (b) those matters expressly the respective roles and reserved to the board responsibilities of our and those delegated to board and management (including management. those matters expressly reserved to the board and those delegated to management): at www.globalpetroleum.com.au ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.2 A listed entity should: ... the fact that we follow an explanation why that (a) undertake appropriate this recommendation: is so in our Corporate checks before appointing in our Corporate Governance Governance Statement OR a person, or putting forward Statement OR we are an externally managed to security holders a at www.globalpetroleum.com.au entity and this recommendation candidate for election, is therefore not applicable as a director; and (b) provide security holders with all material information in its possession relevant to a decision on whether or not to elect or re-elect a director. ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.3 A listed entity should ... the fact that we follow an explanation why that have a written agreement this recommendation: is so in our Corporate with each director and in our Corporate Governance Governance Statement OR senior executive setting Statement OR we are an externally managed out the terms of their at www.globalpetroleum.com.au entity and this recommendation appointment. is therefore not applicable ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.4 The company secretary ... the fact that we follow an explanation why that of a listed entity should this recommendation: is so in our Corporate be accountable directly in our Corporate Governance Governance Statement OR to the board, through Statement OR we are an externally managed the chair, on all matters at www.globalpetroleum.com.au entity and this recommendation to do with the proper is therefore not applicable functioning of the board. ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.5 A listed entity should: ... the fact that we have an explanation why that (a) have a diversity policy a diversity policy that is so in our Corporate which includes requirements complies with paragraph Governance Statement OR for the board or a relevant (a): we are an externally managed committee of the board in our Corporate Governance entity and this recommendation to set measurable objectives Statement OR is therefore not applicable for achieving gender at diversity ... and a copy of our diversity and to assess annually policy or a summary of both the objectives and it: the entity's progress at in achieving them; ... and the measurable (b) disclose that policy objectives for achieving or a summary of it; and gender diversity set by (c) disclose as at the the board or a relevant end of each reporting committee of the board period the measurable in accordance with our objectives for achieving diversity policy and our gender diversity set by progress towards achieving the board or a relevant them: committee of the board in our Corporate Governance in accordance with the Statement OR entity's diversity policy at and its progress towards ... and the information achieving them and either: referred to in paragraphs (1) the respective (c)(1) or (2): proportions in our Corporate Governance of men and women on the Statement OR board, in senior executive at positions and across the whole organisation (including how the entity has defined "senior executive" for these purposes); or (2) if the entity is a "relevant employer" under the Workplace Gender Equality Act, the entity's most recent "Gender Equality Indicators", as defined in and published under that Act. ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.6 A listed entity should: ... the evaluation process an explanation why that (a) have and disclose referred to in paragraph is so in our Corporate a process for periodically (a): Governance Statement OR evaluating the performance in our Corporate Governance we are an externally managed of the board, its committees Statement OR entity and this recommendation and individual directors; at www.globalpetroleum.com.au is therefore not applicable and ... and the information (b) disclose, in relation referred to in paragraph to each reporting period, (b): whether a performance in our Corporate Governance evaluation was undertaken Statement OR in the reporting period at www.globalpetroleum.com.au in accordance with that process. ---- ------------------------------------- ----------------------------------- ------------------------------------ 1.7 A listed entity should: ... the evaluation process an explanation why that
(a) have and disclose referred to in paragraph is so in our Corporate a process for periodically (a): Governance Statement OR evaluating the performance in our Corporate Governance we are an externally managed of its senior executives; Statement OR entity and this recommendation and at www.globalpetroleum.com.au is therefore not applicable (b) disclose, in relation ... and the information to each reporting period, referred to in paragraph whether a performance (b): evaluation was undertaken in our Corporate Governance in the reporting period Statement OR in accordance with that at www.globalpetroleum.com.au process. ---- ------------------------------------- ----------------------------------- ------------------------------------ Principle 2 - Structure the board to add value ---------------------------------------------------------------------------------------------------------------------- 2.1 The board of a listed [If the entity complies an explanation why that entity should: with paragraph (a):] is so in our Corporate (a) have a nomination ... the fact that we have Governance Statement OR committee which: a nomination committee we are an externally managed (1) has at least three that complies with paragraphs entity and this recommendation members, a majority of (1) and (2): is therefore not applicable whom are independent in our Corporate Governance directors; and Statement OR (2) is chaired by an at independent director, ... and a copy of the charter and disclose: of the committee: (3) the charter of the at committee; ... and the information (4) the members of the referred to in paragraphs committee; and (4) and (5): (5) as at the end of in our Corporate Governance each reporting period, Statement OR the number of times the at committee met throughout [If the entity complies the period and the with paragraph (b):] individual ... the fact that we do attendances of the members not have a nomination committee at those meetings; or and the processes we employ (b) if it does not have to address board succession a nomination committee, issues and to ensure that disclose that fact and the board has the appropriate the processes it employs balance of skills, knowledge, to address board succession experience, independence issues and to ensure and diversity to enable that the board has the it to discharge its duties appropriate balance of and responsibilities effectively: skills, knowledge, in our Corporate Governance experience, Statement OR independence and diversity at www.globalpetroleum.com.au to enable it to discharge its duties and responsibilities effectively. ------ ----------------------------------- ----------------------------------- ------------------------------------ 2.2 A listed entity should ... our board skills matrix: an explanation why that have and disclose a board in our Corporate Governance is so in our Corporate skills matrix setting Statement OR Governance Statement OR out the mix of skills at www.globalpetroleum.com.au we are an externally managed and diversity that the entity and this recommendation board currently has or is therefore not applicable is looking to achieve in its membership. ------ ----------------------------------- ----------------------------------- ------------------------------------ 2.3 A listed entity should ... the names of the directors an explanation why that disclose: considered by the board is so in our Corporate (a) the names of the to be independent directors: Governance Statement directors considered in our Corporate Governance by the board to be independent Statement OR directors; at www.globalpetroleum.com.au (b) if a director has ... and, where applicable, an interest, position, the information referred association or relationship to in paragraph (b): of the type described in our Corporate Governance in Box 2.3 but the board Statement OR is of the opinion that at it does not compromise ... and the length of service the independence of the of each director: director, the nature in our Corporate Governance of the interest, position, Statement OR association or relationship at www.globalpetroleum.com.au in question and an explanation of why the board is of that opinion; and (c) the length of service of each director. ------ ----------------------------------- ----------------------------------- ------------------------------------ 2.4 A majority of the board ... the fact that we follow an explanation why that of a listed entity should this recommendation: is so in our Corporate be independent directors. in our Corporate Governance Governance Statement OR Statement OR we are an externally managed at [insert location here] entity and this recommendation is therefore not applicable ------ ----------------------------------- ----------------------------------- ------------------------------------ 2.5 The chair of the board ... the fact that we follow an explanation why that of a listed entity should this recommendation: is so in our Corporate be an independent director in our Corporate Governance Governance Statement OR and, in particular, should Statement OR we are an externally managed not be the same person at www.globalpetroleum.com.au entity and this recommendation as the CEO of the entity. is therefore not applicable ------ ----------------------------------- ----------------------------------- ------------------------------------ 2.6 A listed entity should ... the fact that we follow an explanation why that have a program for inducting this recommendation: is so in our Corporate new directors and provide in our Corporate Governance Governance Statement OR appropriate professional Statement OR we are an externally managed development opportunities at www.globalpetroleum.com.au entity and this recommendation for directors to develop is therefore not applicable and maintain the skills and knowledge needed to perform their role as directors effectively. ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 3 - ACT ethicalLY and responsiblY ---------------------------------------------------------------------------------------------------------------------- 3.1 A listed entity should: ... our code of conduct an explanation why that (a) have a code of conduct or a summary of it: is so in our Corporate for its directors, senior in our Corporate Governance Governance Statement executives and employees; Statement OR and at www.globalpetroleum.com.au (b) disclose that code or a summary of it. ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 4 - Safeguard integrity in CORPORATE reporting
---------------------------------------------------------------------------------------------------------------------- 4.1 The board of a listed [If the entity complies an explanation why that entity should: with paragraph (a):] is so in our Corporate (a) have an audit committee ... the fact that we have Governance Statement which: an audit committee that (1) has at least three complies with paragraphs members, all of whom (1) and (2): are non-executive directors in our Corporate Governance and a majority of whom Statement OR are independent directors; at and ... and a copy of the charter (2) is chaired by an of the committee: independent director, at who is not the chair ... and the information of the board, referred to in paragraphs and disclose: (4) and (5): (3) the charter of the in our Corporate Governance committee; Statement OR (4) the relevant at qualifications [If the entity complies and experience of the with paragraph (b):] members of the committee; ... the fact that we do and not have an audit committee (5) in relation to each and the processes we employ reporting period, the that independently verify number of times the and safeguard the integrity committee of our corporate reporting, met throughout the period including the processes and the individual for the appointment and attendances removal of the external of the members at those auditor and the rotation meetings; or of the audit engagement (b) if it does not have partner: an audit committee, disclose in our Corporate Governance that fact and the processes Statement OR it employs that at independently verify and safeguard the integrity of its corporate reporting, including the processes for the appointment and removal of the external auditor and the rotation of the audit engagement partner. ------ ----------------------------------- ----------------------------------- ------------------------------------ 4.2 The board of a listed ... the fact that we follow an explanation why that entity should, before this recommendation: is so in our Corporate it approves the entity's in our Corporate Governance Governance Statement financial statements Statement OR for a financial period, at www.globalpetroleum.com.au receive from its CEO and CFO a declaration that, in their opinion, the financial records of the entity have been properly maintained and that the financial statements comply with the appropriate accounting standards and give a true and fair view of the financial position and performance of the entity and that the opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. ------ ----------------------------------- ----------------------------------- ------------------------------------ 4.3 A listed entity that ... the fact that we follow an explanation why that has an AGM should ensure this recommendation: is so in our Corporate that its external auditor in our Corporate Governance Governance Statement OR attends its AGM and is Statement OR we are an externally managed available to answer questions at www.globalpetroleum.com.au entity that does not hold from security holders an annual general meeting relevant to the audit. and this recommendation is therefore not applicable ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 5 - Make timely and balanced disclosure ---------------------------------------------------------------------------------------------------------------------- 5.1 A listed entity should: ... our continuous disclosure an explanation why that (a) have a written policy compliance policy or a is so in our Corporate for complying with its summary of it: Governance Statement continuous disclosure in our Corporate Governance obligations under the Statement OR Listing Rules; and at www.globalpetroleum.com.au (b) disclose that policy or a summary of it. ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 6 - Respect the rights of sECURITY holders ---------------------------------------------------------------------------------------------------------------------- 6.1 A listed entity should ... information about us an explanation why that provide information about and our governance on our is so in our Corporate itself and its governance website: Governance Statement to investors via its at www.globalpetroleum.com.au website. ------ ----------------------------------- ----------------------------------- ------------------------------------ 6.2 A listed entity should ... the fact that we follow an explanation why that design and implement this recommendation: is so in our Corporate an investor relations in our Corporate Governance Governance Statement program to facilitate Statement OR effective two-way communication at www.globalpetroleum.com.au with investors. ------ ----------------------------------- ----------------------------------- ------------------------------------ 6.3 A listed entity should ... our policies and processes an explanation why that disclose the policies for facilitating and encouraging is so in our Corporate and processes it has participation at meetings Governance Statement OR in place to facilitate of security holders: we are an externally managed and encourage participation in our Corporate Governance entity that does not hold at meetings of security Statement OR periodic meetings of security holders. at www.globalpetroleum.com.au holders and this recommendation is therefore not applicable ------ ----------------------------------- ----------------------------------- ------------------------------------ 6.4 A listed entity should ... the fact that we follow an explanation why that give security holders this recommendation: is so in our Corporate the option to receive in our Corporate Governance Governance Statement communications from, Statement OR and send communications at www.globalpetroleum.com.au to, the entity and its security registry electronically. ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 7 - RECOGNISE AND MANAGE RISK ---------------------------------------------------------------------------------------------------------------------- 7.1 The board of a listed [If the entity complies an explanation why that entity should: with paragraph (a):] is so in our Corporate (a) have a committee ... the fact that we have Governance Statement or committees to oversee a committee or committees risk, each of which: to oversee risk that comply (1) has at least three with paragraphs (1) and members, a majority of (2): whom are independent in our Corporate Governance
directors; and Statement OR (2) is chaired by an at independent director, ... and a copy of the charter and disclose: of the committee: (3) the charter of the at committee; ... and the information (4) the members of the referred to in paragraphs committee; and (4) and (5): (5) as at the end of in our Corporate Governance each reporting period, Statement OR the number of times the at committee met throughout [If the entity complies the period and the with paragraph (b):] individual ... the fact that we do attendances of the members not have a risk committee at those meetings; or or committees that satisfy (b) if it does not have (a) and the processes we a risk committee or employ for overseeing our committees risk management framework: that satisfy (a) above, in our Corporate Governance disclose that fact and Statement OR the processes it employs at for overseeing the entity's risk management framework. ------ ----------------------------------- ----------------------------------- ------------------------------------ 7.2 The board or a committee ... the fact that board an explanation why that of the board should: or a committee of the board is so in our Corporate (a) review the entity's reviews the entity's risk Governance Statement risk management framework management framework at at least annually to least annually to satisfy satisfy itself that it itself that it continues continues to be sound; to be sound: and in our Corporate Governance (b) disclose, in relation Statement OR to each reporting period, at www.globalpetroleum.com.au whether such a review ... and that such a review has taken place. has taken place in the reporting period covered by this Appendix 4G: in our Corporate Governance Statement OR at www.globalpetroleum.com.au ------ ----------------------------------- ----------------------------------- ------------------------------------ 7.3 A listed entity should [If the entity complies an explanation why that disclose: with paragraph (a):] is so in our Corporate (a) if it has an internal ... how our internal audit Governance Statement audit function, how the function is structured function is structured and what role it performs: and what role it performs; in our Corporate Governance or Statement OR (b) if it does not have at an internal audit function, [If the entity complies that fact and the processes with paragraph (b):] it employs for evaluating ... the fact that we do and continually improving not have an internal audit the effectiveness of function and the processes its risk management and we employ for evaluating internal control processes. and continually improving the effectiveness of our risk management and internal control processes: in our Corporate Governance Statement OR at www.globalpetroleum.com.au ------ ----------------------------------- ----------------------------------- ------------------------------------ 7.4 A listed entity should ... whether we have any an explanation why that disclose whether it has material exposure to economic, is so in our Corporate any material exposure environmental and social Governance Statement to economic, environmental sustainability risks and, and social sustainability if we do, how we manage risks and, if it does, or intend to manage those how it manages or intends risks: to manage those risks. in our Corporate Governance Statement OR at www.globalpetroleum.com.au ------ ----------------------------------- ----------------------------------- ------------------------------------ Principle 8 - REMUNERATE FAIRLY AND RESPONSIBLY ---------------------------------------------------------------------------------------------------------------------- 8.1 The board of a listed [If the entity complies an explanation why that entity should: with paragraph (a):] is so in our Corporate (a) have a remuneration ... the fact that we have Governance Statement OR committee which: a remuneration committee we are an externally managed (1) has at least three that complies with paragraphs entity and this recommendation members, a majority of (1) and (2): is therefore not applicable whom are independent in our Corporate Governance directors; and Statement OR (2) is chaired by an at independent director, ... and a copy of the charter and disclose: of the committee: (3) the charter of the at committee; ... and the information (4) the members of the referred to in paragraphs committee; and (4) and (5): (5) as at the end of in our Corporate Governance each reporting period, Statement OR the number of times the at committee met throughout [If the entity complies the period and the with paragraph (b):] individual ... the fact that we do attendances of the members not have a remuneration at those meetings; or committee and the processes (b) if it does not have we employ for setting the a remuneration committee, level and composition of disclose that fact and remuneration for directors the processes it employs and senior executives and for setting the level ensuring that such remuneration and composition of is appropriate and not remuneration excessive: for directors and senior in our Corporate Governance executives and ensuring Statement OR that such remuneration at www.globalpetroleum.com.au is appropriate and not excessive. ------ ----------------------------------- ----------------------------------- ------------------------------------ 8.2 A listed entity should ... separately our remuneration an explanation why that separately disclose its policies and practices is so in our Corporate policies and practices regarding the remuneration Governance Statement OR regarding the remuneration of non-executive directors we are an externally managed of non-executive directors and the remuneration of entity and this recommendation and the remuneration executive directors and is therefore not applicable of executive directors other senior executives: and other senior executives. in our Corporate Governance Statement OR at www.globalpetroleum.com.au ------ ----------------------------------- ----------------------------------- ------------------------------------ 8.3 A listed entity which ... our policy on this an explanation why that has an equity-based remuneration issue or a summary of it: is so in our Corporate scheme should: in our Corporate Governance Governance Statement OR
(a) have a policy on Statement OR w e do not have an equity-based whether participants at www.globalpetroleum.com.au remuneration scheme and are permitted to enter this recommendation is into transactions (whether therefore not applicable through the use of derivatives OR or otherwise) which limit we are an externally managed the economic risk of entity and this recommendation participating in the is therefore not applicable scheme; and (b) disclose that policy or a summary of it. ------ ----------------------------------- ----------------------------------- ------------------------------------ ADDITIONAL DISCLOSURES APPLICABLE TO EXTERNALLY MANAGED LISTED ENTITIES ---------------------------------------------------------------------------------------------------------------------- - Alternative to Recommendation ... the information referred an explanation why that 1.1 for externally managed to in paragraphs (a) and is so in our Corporate listed entities: (b): Governance Statement The responsible entity in our Corporate Governance of an externally managed Statement OR listed entity should at disclose: (a) the arrangements between the responsible entity and the listed entity for managing the affairs of the listed entity; (b) the role and responsibility of the board of the responsible entity for overseeing those arrangements. ------ ----------------------------------- ----------------------------------- ------------------------------------ - Alternative to Recommendations ... the terms governing an explanation why that 8.1, 8.2 and 8.3 for our remuneration as manager is so in our Corporate externally managed listed of the entity: Governance Statement entities: in our Corporate Governance An externally managed Statement OR listed entity should at clearly disclose the terms governing the remuneration of the manager. ------ ----------------------------------- ----------------------------------- ------------------------------------
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