A LIST OF RECOMMENDATIONS BY ASX WHICH WERE NOT FOLLOWED BY AHI:
1.7 A listed entity shoulda) Have and disclose a process for evaluating the performance of its senior executives at least once every reporting period; and(b) Disclose for each reporting period, whether a performance evaluation has beenundertaken in accordance with that process during or in respect of that period.
(a) The Company did not have a formal process for the evaluation of the performance of senior executives during the 2022 financial year. As the Company matures, the Board will establish formal quantitative and qualitative performance evaluation procedures. Until such time as formal procedures are implemented, the Chief Executive Officer will assess the performance of senior executives.The Company considers that a formal process is not essential at this stage and that performance evaluation can be effectively assessed on an informal basis.
(b) Although no formal performance evaluation has been undertaken during the year ended 30 June 2022, senior managers have been issued with securities with various performance milestones, under the Company’s Incentive Plans. An individual’s performance is measured and evaluated during the year against the milestones set under the Offer of the securities.
2.2 A listed entity should have and disclose a board skills matrix setting out the mix of skills that the board currently has or is looking to achieve in its membership.
The Company does not have a formal board skills matrix. The Board considers the current mix of skills and experience of members of the Board and its senior management is sufficient to meet the requirements of the Company. The skills, experience and expertise of each director is set out in the Directors’ Report section of the Company’s 2022 Annual Report.
3.1 A listed entity should articulate and disclose its values.
The Company has not adopted a formal Statement of Values, however it strives to achieve its objectives by:conducting business with honesty, integrity, and fairness;complying with all relevant laws and regulations applicable to it; andensuring the safety and wellbeing of employees, representatives, and other stakeholders.
7.3 A listed entity should disclosea) if it has an internal audit function, how the function is structured and what role it performs.
(a) The Board considers that the Company is not currently of a size or complexity to justify implementing an internal audit function.
AHI Price at posting:
11.5¢ Sentiment: None Disclosure: Held
a) Have and disclose a process for evaluating the performance of its senior executives at least once every reporting period; and(b) Disclose for each reporting period, whether a performance evaluation has beenundertaken in accordance with that process during or in respect of that period.
(20min delay)