BOARD COMMITTEES

The Board's function is to address issues in their broadest context. It is through the committee structure that specific areas of detail are examined. Currently there are two committees in place.

Audit and Risk Committee

The Audit and Risk Committee is chaired by Mr. Geoffrey Phillips and includes Mr. Don Beard and Dr. David Hobday. The Audit and Risk Committee is responsible for risk management and oversight of the Company's financial reporting policies and other operational risk areas.

The Committee monitors the internal controls and the integrity of the Company's financial statements in compliance with the regulatory requirements. The Committee is also responsible for the appointment, evaluation and oversight of the external auditor, and ensuring that the independence of the external assurance function is maintained. The Audit and Risk Committee Charter is available by clicking here.

Remuneration Committee

The Remuneration Committee is chaired by Mr. Don Beard and includes Mr. Geoffrey Phillips. The Committee is responsible for making recommendations to the Board with respect to the Company's compensation policies, including equity-based programmes.

The Committee is also responsible for making recommendations to the Board in respect of individuals suitably qualified to become Board members. The Committee reviews, considers and evaluates the remuneration and performance of Executive Directors and senior management. The Remuneration Committee Charter is available by clicking here.