
The Directors of African Energy Resources (Guernsey) Limited are committed to good corporate governance taking into account the Company's size and current activities, and as such has a range of policies and processes in place to ensure the rights of the Company and our shareholders are protected.
In August 2007, the ASX Corporate Governance Council published its second edition of Corporate Governance Principles and Recommendations. A full summary of these recommendations can be viewed from the following link http://www.asx.com.au/supervision/governance/index.html
These Recommendations are not prescriptive, they are guidelines designed to cover companies of all sizes and produce an outcome that is effective, of high quality and integrity. The Company's Board of Directors has reviewed these Recommendations and in most cases the Company was already achieving the standards required. In a limited number of instances, the Company has determined not to comply with the standard set out in the Recommendations largely due to the Recommendation being considered by the Board to be unduly onerous for a Company of its size.
The ASX Corporate Governance Council encourages all companies to communicate openly with stakeholders via electronic methods. In accordance with this, all relevant Corporate Governance material is required to be made publicly available on the Company's website in a clearly designated section.
The links below will provide you access to information on the Company's policies and proceduires as required to be detailed by the ASX Corporate Governance Principles and Recommendations.
Procedure for the Selection and Appointment of New Directors
Explanation for departure from ASX Recommendations
Board Policy for Nomination and Appointment of Directors
Explanation for departure from ASX Recommendations
Communications with Shareholders
Risk Management Policy Statement
Explanation for departure from ASX Recommendations
Transactions Which Limit the Economic Risk of Participating in Unvested Entitlements



