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Wingara AG Limited ACN 009 087 469
(Wingara or Company)
Corporate Governance Statement
The board of directors (Board) is responsible for corporate governance of the Company. The Board considers good corporate governance a matter of great importance and aims for best practice in the area of corporate governance. This statement describes the main corporate governance practices of the Company.
In keeping with the spirit of the ASX Corporate Governance Principles and Recommendations 4th Edition ("Recommendations"), the Company has followed each recommendation where the board has considered the recommendation to be an appropriate benchmark for corporate governance practices, taking into account factors such as the size of the Company and the board, resources available and activities of the Company. Where the Company's corporate governance practices depart from the Recommendations, the Board has offered disclosure of the nature of, and reason for, the adoption of its own practice.
The Company's corporate governance policies and procedures are available on the Company's Website. https://wingaraag.com.au/
This Corporate Governance Statement was approved by the Company's board of directors (Board) on 27 July 2022 and is current as at that date.
ASX Recommendations | Compliance | Comment | |||||
1. | Lay solid foundations for management and oversight | ||||||
1.1 | A | listed entity | should | Complies | The Board is responsible for the overall governance of the Company and the management of the | ||
disclose: | Company. The Board has adopted a written charter to clarify the roles and responsibilities of Board | ||||||
(a) the respective roles and | members. This charter addresses: | ||||||
responsibilities | of its | • the Board's composition; | |||||
Board | and | ||||||
• the Board's role and responsibilities; | |||||||
management; and | |||||||
• the relationship and interaction between the Board and management; | |||||||
(b) | those matters expressly | ||||||
• the manner in which the Board monitors its own performance; and | |||||||
reserved to the | Board | • The role of the Board in identifying the expectations of Shareholders and the ethical and | |||||
and those delegated to | regulatory obligations of the Company. | ||||||
management. | |||||||
The Board Charter formalises the functions and responsibilities of the Board. The Board is ultimately | |||||||
responsible for all matters relating to the running of the Company. | |||||||
The responsibilities of the Board include: | |||||||
ASX Recommendations | Compliance | Comment | |||||||||
a) formulation, review and approval of the objectives and strategic direction of the Company; | |||||||||||
b) reviewing, monitoring and approving any related party transaction; | |||||||||||
only | c) monitoring the financial performance of the Company by reviewing and approving budgets and | ||||||||||
results; | |||||||||||
d) approving all significant business transactions including acquisitions, divestments and capital | |||||||||||
expenditure; | |||||||||||
e) ensuring that adequate internal control systems and procedures exist and that compliance with | |||||||||||
these systems and procedures is maintained; | |||||||||||
f) overseeing workplace health and safety (WHS); | |||||||||||
g) review of performance and remuneration of Directors; | |||||||||||
h) review of performance and remuneration of the CEO/Managing Director; and | |||||||||||
i) the establishment and maintenance of appropriate corporate governance and ethical | |||||||||||
use | standards. | ||||||||||
The Board has procedures to allow directors, in the furtherance of their duties, to seek independent | |||||||||||
professional advice at the Company's expense. | |||||||||||
Responsibility for the operation and administration of the Company is delegated by the Board to the | |||||||||||
senior management team. The Board must ensure that senior executives are appropriately qualified and | |||||||||||
experienced to discharge their responsibilities. | |||||||||||
1.2 | A listed entity should: | Complies | The Company undertakes reference checks prior to appointing a director or putting that person forward | ||||||||
personalr | (a) | undertake | appropriate | as a candidate to ensure that person is competent, experienced, and fit to undertake the duties of director. | |||||||
The Company will provide relevant information to shareholders for their consideration regarding the | |||||||||||
checks | before | ||||||||||
attributes of candidates together with an indication of whether the Board supports the appointment or re- | |||||||||||
appointing a person, or | |||||||||||
election of a candidate. | |||||||||||
putting | forward | to | |||||||||
security | holders | a | |||||||||
candidate | for election, | ||||||||||
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. | |||||||||||
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ASX Recommendations | Compliance | Comment | |||||||||
1.3 | A listed entity should have a | Complies | The terms of the appointment of a non-executive director, executive directors and senior executives are | ||||||||
written agreement with each | agreed upon and set out in writing at the time of appointment. | ||||||||||
director and senior executive | |||||||||||
setting out the terms of their | |||||||||||
appointment. | |||||||||||
1.4 | The company secretary of a | Complies | The Company Secretary is accountable to the Board through the Chairman on all corporate governance | ||||||||
listed | entity | should | be | matters. The Company Secretary is generally responsible for carrying out the administrative and | |||||||
accountable directly to | the | legislative requirements of the Board and holds primary responsibility for ensuring that the Board | |||||||||
Board, through the Chair, on | processes, procedures and policies run efficiently and effectively. | ||||||||||
all matters to do with the | |||||||||||
proper | functioning | of | the | ||||||||
Board. | |||||||||||
1.5 | A listed entity should: | Complies | The Company has established a Diversity Policy, which may be viewed at | ||||||||
(a) have and | disclose | a | https://wingaraag.com.au/investors/corporate-governance/(Website). | ||||||||
diversity policy; | The Company is an equal opportunity employer and aims to recruit staff from as diverse a pool of qualified | ||||||||||
(b) through its | board or | a | |||||||||
candidates as reasonably possible based on their skills, qualifications and experience. | |||||||||||
committee of the board | |||||||||||
set | measurable | The Board set a target to achieve an increase in female representation across the workforce of 10%, | |||||||||
objectives for achieving | within three years. | ||||||||||
gender diversity in | the | ||||||||||
composition | of | its | The proportion of female representation across the Company as at 31 March 2022 is detailed below: | ||||||||
board, | senior | ||||||||||
executives | and | • | Board: 0% | ||||||||
workforce | generally; | • Senior Executive (reporting to the CEO): 17% | |||||||||
and | |||||||||||
• | Whole Workforce: 7% | ||||||||||
(c) disclose in relation to | |||||||||||
each reporting period: | The Company was not in the S&P / ASX300 Index at the commencement of the Reporting Period. | ||||||||||
(1) | the | measurable | |||||||||
objectives | set | for | |||||||||
that | period | to | |||||||||
achieve | gender | ||||||||||
diversity; | |||||||||||
(2) | the | entity's | |||||||||
progress | towards |
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ASX Recommendations | Compliance | Comment |
achieving those objectives; and
- either:
-
the respective proportions of
men and women on the
board, in senior executive positions and
across the whole workforce (including how the entity has defined "senior executive" for these purposes); or - 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.
-
the respective proportions of
If the entity was in the S&P / ASX 300 Index at the commencement of the
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ASX Recommendations | Compliance | Comment | ||||||||||
reporting | period, | the | ||||||||||
measurable | objective | for | ||||||||||
achieving gender diversity in | ||||||||||||
only | the composition of its board | |||||||||||
should be to have not less | ||||||||||||
than 30% of its directors of | ||||||||||||
each | gender | within | a | |||||||||
specified period. | ||||||||||||
1.6 | A listed entity should: | Complies | The performance of the Board and individual Directors of the Company is monitored and evaluated by | |||||||||
(a) | have | and disclose a | the Board. The Board is responsible for conducting evaluations periodically in line with the Board Charter. | |||||||||
use | process for periodically | Given the size of the Board, and changes to Board composition during the Reporting Period, a formal | ||||||||||
evaluating | the | |||||||||||
review of Board performance was not carried out. | ||||||||||||
performance | of | the | ||||||||||
Board, its | committees | |||||||||||
and individual directors; | ||||||||||||
and | ||||||||||||
(b) | disclose, | in | relation | to | ||||||||
each | reporting | period, | ||||||||||
whether a performance | ||||||||||||
personalr | evaluation | was | ||||||||||
undertaken | in | the | ||||||||||
reporting | period | in | ||||||||||
accordance | with | that | ||||||||||
process. | ||||||||||||
1.7 | A listed entity should: | Complies | The Board undertakes a periodic review of the performance of senior executives against appropriate key | |||||||||
(a) | have | and | disclose | a | performance indicators. Given the extensive changes made in the composition of the senior executive | |||||||
team and the appointment of a new CEO during and shortly after the Reporting Period, a formal review | ||||||||||||
process for periodically | ||||||||||||
was not undertaken in the Reporting Period. | ||||||||||||
evaluating | the | |||||||||||
performance | of | its | ||||||||||
senior executives; and | ||||||||||||
(b) | disclose | for | each | |||||||||
reporting | period | |||||||||||
whether a performance | ||||||||||||
evaluation | has | been | ||||||||||
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Wingara AG Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 04:21:07 UTC.