Corporate Governance

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.

       Board Charter

      

       Procedure for the Selection and Appointment of New Directors

      

       Nomination Committee -

       Explanation for departure from ASX Recommendations

      

       Board Policy for Nomination and Appointment of Directors

      

       Code of Conduct

      

       Trading Policy

      

       Audit Committee -

       Explanation for departure from ASX Recommendations

      

       External Auditor Relationship

      

       Continuous Disclosure Policy

      

       Communications with Shareholders

      

       Risk Management Policy Statement

      

       Remuneration Committee -

       Explanation for departure from ASX Recommendations

      Transactions Which Limit the Economic Risk of Participating in Unvested         Entitlements

Directors of the Company Capital Structure Corporate Directory Corporate Governance