The Board is responsible for the overall corporate governance of Delta SBD. In particular, the Board:
- Promotes ethical and responsible decision- making
- Ensures compliance with the Australian Corporations Act, Accounting Standards, ASX Listing Rules and all other appropriate laws
- Ensures compliance with statutory OH&S, mining and environmental regulations
- Sets and reviews strategic direction and approves the annual operating budget
- Establishes goals for management and monitors the achievement of these goals
- Monitors the operating and financial performance of Delta SBD
- Monitors the performance of the Board committees, Chief Executive Officer, Directors and management, ensuring a clear link between performance and remuneration
- Ensures that an appropriate overall framework of internal control is in place to facilitate efficient decision-making and monitor business risk
- Ensures that capital markets and Shareholders are fully informed of material developments through effective compliance with continuous disclosure best practice
- Recognises the legitimate interests of all stakeholders
The Board plans to meet up to ten times a year as part of a regular reporting cycle and otherwise as required. In addition, the Board plans to meet annually with senior management to discuss and set future strategy.
Full Board papers are prepared and circulated to Directors in advance of each meeting to ensure that Directors are made aware of current and forthcoming issues relevant to Delta SBD’s operations, safety and financial performance. These papers will include monthly and year-to-date performance summaries. A comparison against budget and regularly revised forecasts will be provided.
