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TLOU Tlou Energy Limited

2.00
-0.05 (-2.44%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tlou Energy Limited LSE:TLOU London Ordinary Share AU000000TOU2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -2.44% 2.00 2.00 2.10 2.05 2.00 2.05 506,269 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Leather Tanning & Finishing 0 -4.24M -0.0039 -10.26 43.06M

Tlou Energy Ltd Appendix 4G (0047N)

20/10/2016 9:51am

UK Regulatory


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TIDMTLOU

RNS Number : 0047N

Tlou Energy Ltd

20 October 2016

20 October 2016

Tlou Energy Limited

("Tlou" or "the Company")

Appendix 4G and Corporate Governance Statement

Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and Southern Africa through the development of coal bed methane ('CBM') projects, wishes to advise that it has today released the below announcement to the Australian Securities Exchange ("ASX"), in accordance with the requirements of the ASX.

For further information regarding this announcement please contact:

 
 Tlou Energy Limited                       +61 7 3012 9793 
 Gabaake Gabaake, Acting Managing 
  Director 
 Solomon Rowland, Company Secretary 
 
 Grant Thornton (Nominated 
  Adviser)                                 +44 (0)20 7383 5100 
 Jen Clarke, Colin Aaronson, 
  Harrison Clarke 
 
 Brandon Hill Capital (Financial 
  Adviser and Joint broker)                +44 (0)20 3463 5016 
 Jonathan Evans, Alex Walker 
 
 Optiva Securities Limited 
  (Joint broker)                           +44 (0)20 3137 1904 
 Jeremy King, Christian Dennis 
 
 St Brides Partners Limited 
  (Public relations) 
                                           +44 (0) 20 7236 
 Elisabeth Cowell, Lottie Brocklehurst      1177 
 

Company Information

Tlou Energy is an AIM and ASX listed company focused on delivering power in Botswana through the development of coal bed methane ('CBM') projects. Botswana has a severe energy shortage and is currently relying on expensive imported power and diesel generation to deliver its requirements. However, as the 100% owners of the most advanced gas project in the country, the Lesedi CBM Project ('Lesedi'), Tlou Energy provides investors with access to a compelling immediate and longer term opportunity using domestic gas to produce power and displace the expensive diesel and import market.

The Company is led by an experienced Board, management and advisory team including individuals with successful track records in the Australian CBM industry.

Since establishment in 2009 the Company has significantly de-risked the project in consideration of its goal to become a significant gas to power producer. The Company has the most advanced CBM project in Botswana with gas flaring at its Selemo wells. It holds 10 prospecting licences covering an area of 8,300Km(2) and the Lesedi project already benefits from significant, independently certified contingent resources of 3.3 trillion cubic feet (TCF) (3C). Following completion of the current gas flow tests at Selemo the Company is looking to book certified gas reserves, thereby becoming the first company in Botswana to do so.

The first planned gas-to-power solution is expected to be delivered through a scalable project with the Botswana Government. Following successful implementation of this project the Company plans larger projects to provide further power to Botswana and the southern African region.

Appendix 4G

Key to Disclosures

Corporate Governance Council Principles and Recommendations

 
 Name of entity: 
------------------------- 
      Tlou Energy Limited 
------------------------- 
 
 
 ABN / ARBN:             Financial year ended: 
--------------------    ---------------------- 
      79 136 739 967          30 June 2016 
--------------------    ---------------------- 
 

Our corporate governance statement for the above period above can be found at:

 
   These pages of             Pages 61 - 72 inclusive 
    our annual report: 
   This URL on our 
    website: 
 

The Corporate Governance Statement is accurate and up to date as at 13 September 2016 and has been approved by the board.

The annexure includes a key to where our corporate governance disclosures can be located.

 
 Date: 20 October 2016 
 Sign here: 
  Company Secretary 
  Solomon Rowland: 
 

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 [insert location]                    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 [insert location] 
----  -------------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location]                    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 [insert location]                    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 [insert location]                    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 [insert location] 
              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 [insert location] 
              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 [insert location] 
              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 [insert location] 
              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 [insert location]                    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 [insert location] 
        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 [insert location]                    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 [insert location] 
        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 [insert location] 
               independent director,           ... and a copy of the charter 
               and disclose:                   of the committee: 
               (3) the charter of the          at [insert location] 
               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 [insert location] 
               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 [insert location] 
               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 [insert location]                    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 [insert location] 
          (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 [insert location] 
          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 [insert location] 
          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]                    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 [insert location]                    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 [insert location]                    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 [insert location] 
          (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 [insert location] 
               and                            ... and a copy of the charter 
               (2) is chaired by an           of the committee: 
               independent director,          at 
               who is not the chair           http://tlouenergy.com/corporate-go 
               of the board,                  vernance 
               and disclose:                  ... and the information 
               (3) the charter of the         referred to in paragraphs 
               committee;                     (4) and (5): 
               (4) the relevant               in our Corporate Governance 
               qualifications                 Statement OR 
               and experience of the          at [insert location] 
               members of the committee;      [If the entity complies 
               and                            with paragraph (b):] 
               (5) in relation to each        ... the fact that we do 
               reporting period, the          not have an audit committee 
               number of times the            and the processes we employ 
               committee                      that independently verify 
               met throughout the period      and safeguard the integrity 
               and the individual             of our corporate reporting, 
               attendances                    including the processes 
               of the members at those        for the appointment and 
               meetings; or                   removal of the external 
               (b) if it does not have        auditor and the rotation 
               an audit committee, disclose   of the audit engagement 
               that fact and the processes    partner: 
               it employs that                in our Corporate Governance 
               independently                  Statement OR 
               verify and safeguard           at [insert location] 
               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 [insert location] 
          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 [insert location]                    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 [insert location] 
          (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 
          website.                            http://tlouenergy.com/corporate-go 
                                              vernance 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location] 
          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 [insert location]                    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 [insert location] 
          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 [insert location] 
               independent director,          ... and a copy of the charter 
               and disclose:                  of the committee: 
               (3) the charter of the         at 
               committee;                     http://tlouenergy.com/corporate-go 
               (4) the members of the         vernance 
               committee; and                 ... and the information 
               (5) as at the end of           referred to in paragraphs 
               each reporting period,         (4) and (5): 
               the number of times the        in our Corporate Governance 
               committee met throughout       Statement OR 
               the period and the             at [insert location] 
               individual                     [If the entity complies 
               attendances of the members     with paragraph (b):] 
               at those meetings; or          ... the fact that we do 
               (b) if it does not have        not have a risk committee 
               a risk committee or            or committees that satisfy 
               committees                     (a) and the processes we 
               that satisfy (a) above,        employ for overseeing our 
               disclose that fact and         risk management framework: 
               the processes it employs       in our Corporate Governance 
               for overseeing the entity's    Statement OR 
               risk management framework.     at [insert location] 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location] 
          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 [insert location] 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location] 
          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 [insert location] 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location] 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location] 
               independent director,           ... and a copy of the charter 
               and disclose:                   of the committee: 
               (3) the charter of the          at [insert location] 
               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 [insert location] 
               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 [insert location] 
               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 [insert location] 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 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 [insert location]                    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 [insert location] 
          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 [insert location] 
          clearly disclose the 
          terms governing the remuneration 
          of the manager. 
------  -----------------------------------  -----------------------------------  ------------------------------------ 
 
 

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(END) Dow Jones Newswires

October 20, 2016 04:51 ET (08:51 GMT)

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