The Board of Directors is responsible for the overall corporate governance of Greatcell Solar Limited, and is committed to the principles underpinning best practice in corporate governance, applied in a manner that meets ASX standards and best addresses the Directors’ accountability to Shareholders. However, whilst the Company will endeavour to comply with all of the guidelines under the ASX Corporate Governance Recommendations, the Board considers that the Company is not currently of a size, nor are its affairs of such complexity, to justify the additional expense of compliance with all recommendations.
Corporate Governance Policies
A brief summary of Greatcell Solar’s main corporate governance policies and practices is outlined below. In addition, the following policies and procedures have been adopted and are available here in PDF:
- Statement of Matters Reserved to the Board
- Corporate Code of Conduct
- Continuous Disclosure Policy
- Securities Trading Policy
- Risk Management Policy
- Audit and Risk Committee Charter
- Remuneration Committee Charter
- Shareholder Communications Strategy
- Summary of Procedure for Selection of External Auditor and Rotation of Engagement Audit Partner
- Corporate Social Responsibility
- Environmental Policy
The Board of Directors
The Board will comprise both executive and Non-Executive Directors. Presently there are three Non-Executive Directors and one Managing Director. It is Greatcell Solar’s policy to have a majority of non-executive directors.
Committees of the Board
The Board has established the following committees:
Audit and Risk Committee
The Audit Committee comprises two Board members, both of whom are Non-Executive Directors. The primary responsibility of this Committee is to monitor the integrity of the financial statements of the Company, and to oversee all aspects of the Company’s risk management framework.
The Remuneration Committee comprises two Board members, both of whom are Non-Executive Directors. The primary responsibility of this Committee is to discharge the Board’s responsibilities in relation to remuneration of the Company’s executives, including share and benefit plans.
Role of the Board
The strategy and control of the business is vested in the Board. The Board’s primary responsibility is to oversee the Company’s business activities and management for the benefit of the shareholders. The Board strives to create shareholder value and ensure that shareholders’ funds are prudently safeguarded.
Greactell Solar is a renewable energy technology company and has strong ethical values and commitment to sustainability in our business operations. Learn more about sustainability at Greatcell Solar in the Sustainability Section of the website.