Corporate Governance:

Functions and responsibilities of the Board

  • Complete oversight of all company operations
  • Developing, reviewing and approving all financial goals for the organization
  • Developing and approving all strategies and plans for overall and individual groups within the company
  • Setting and approving all financial plans and budgets
  • Implementing approved strategies, monitoring results, and ensuring that levels of authority are adhered to
  • Reviewing performance of key management teams
  • Reviewing and verifying systems of risk management and internal compliance and control, codes of conduct and legal compliance
  • Approving and monitoring financial reporting and reporting to shareholders on the Company's direction and performance
  • Meeting legal requirements and ensuring that the Company acts responsibly and ethically and prudently manages business risks and Boneyard Holdings Limited’s (BHL) assets

Structure of the Board

  • the Directors all hold specific executive roles within the company
  • the Directors are substantial shareholders of the Company
  • the Directors are free from any interest and any business or other relationship which could, or could reasonably be perceived to, materially interfere with the Director/s ability to act in the best interests of the Company
  • at this time it is envisaged that the company will appoint specialist non-executive directors to board positions as the company’s growth requires

Ethical Standards

  • The Board's policy is that all divisions and employees must observe both the letter and spirit of the law, and adhere to high standards of business conduct and comply with best practice.
  • As part of performance management, employees are assessed against the 5 key performance models of leadership, respect, focus, performance and persistence.

Work of the Directors

  • Currently the Board consists of four executive directors
  • Each director fulfills a key responsibility as determined by their professional skill set
  • To assist the directors in their duties, the Board will appoint a panel of key management consultants to provide specialist advice in areas such as governance, strategy and legal policy

Disclosure and Communication

Communication with investors

Boneyard Holdings Limited is committed to effective communication with its investors so as to give them ready access to balanced and understandable information. Material information is made available to all market participants at the same time.

Boneyard Holdings Limited communicates to the investor market through

  • Half yearly and full year financial statements
  • The annual report
  • The Annual General Meeting
  • Investor briefings
  • Media interviews
  • Posting formal reporting and company announcements
  • Posting information from investor conferences and site visits on its website

Furthermore, email alerts are sent to shareholders and interested parties upon request of relevant new announcements and reports available on Boneyard Holdings Limited

Executive/Management Compensation

Remuneration Policy

Boneyard Holdings Limited's remuneration policy and practices are designed to attract, motivate and retain high quality people. The policy is built around the principle that:

performance management of staff are as per individually set objectives and are inclusive of outcomes as measured against key performance indicators, upholding company values and behavioural standards.

Auditing

In compliance with ASIC regulations Boneyard Holdings Limited will appoint 3rd party Auditors as required.

Risk Management

The managers of Boneyard Holdings Limited’s businesses are responsible for identifying and managing risks.

  • The Board is responsible for satisfying itself that a sound system of risk oversight and management exists and that internal controls are effective. In particular, the Board ensures that
  • The principal strategic, operational and financial reporting and compliance risks are identified
  • Systems are in place to assess, manage, monitor and report on these risks

These matters are analysed and discussed by the Board at least annually and more frequently if required.

In addition to maintaining appropriate insurance and other risk management measures, identified risks are managed through:

  • established policies and procedures for the managing of funding, foreign exchange and financial instruments (including derivatives) including the prohibition of speculative transactions
  • Key business risks being identified on a Divisional basis and on a corporate wide basis and reported to Directors as part of the strategic planning process
  • Policies, standards and procedures in relation to environmental and health and safety matters
  • Training programs in relation to legal and compliance issues such as trade practices/antitrust, intellectual property protection, occupational health and safety and environmental
  • Procedures requiring that significant capital and revenue expenditure and other contractual commitments are approved at an appropriate level of management or by the Board

In addition to an overall risk management policy, Boneyard Holdings Limited will implement numerous risk management systems and policies that govern the management of risk.

Compliance

The Company has adopted policies requiring compliance with occupational health and safety, environmental and trade practices laws.

Human Resources

The company is looking to 'outsource' the function of Human Resources to a third party specialist organization. An initial brief has been established to cover all requirements.

ASIC Compliance

The company has agreed that it will comply with all ASIC regulations

ACCC Compliance.

The company has agreed that it will comply with all ACCC regulations