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Askari

5,577 Posts.

19/10/14

22:10

Post #: 14146929
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Originally posted by malmanu ↑

http://www.cudeco.com.au/governance.asp

"The Board acknowledges the need for continued maintenance of the highest standards of corporate governance practice and ethical conduct by all Directors and employees. A fundamental theme of the Company’s code of ethics is that all business affairs are conducted legally, ethically and with the strict observance of the highest standards of integrity and propriety. The Directors and management have the responsibility to carry out their functions with a view to maximising financial performance of the consolidated entity.

All directors and employees are expected to act with the utmost integrity and objectivity, striving at all times to enhance the reputation and performance of the consolidated entity.

The Company did not comply with ASX Recommendation 3.2 as it does not have a formal written policy regarding trading in company securities by directors, officers and employees, however there is a clear understanding as to when trading is inappropriate."

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Purchasing shares immediately before two critical market sensitive announcements is deemed inappropriate in many individuals books. As it does not have a formal written policy, does it mean that this is void, and they may trade at anytime? Despite almost every other company following the same regulations?

CDU Price at posting: $1.38 Sentiment: None Disclosure: Not Held
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