corporate governance

Annual Report p17
CORPORATE GOVERNANCE
The Board of Directors of Albidon are responsible for the corporate governance of the Group. The Board guides and
monitors the business affairs of Albidon on behalf of shareholders by whom they are elected and to WHOM THEY ARE ACCOUNTABLE.
In accordance with the Australian Stock Exchange Corporate Governance Council‟s (the Council‟s) �Principles of Good
Corporate Governance and Best Practice Recommendations� (the Recommendations), the Company will disclose the extent
to which it has followed the guidelines and any reasons for departure from these. The Board will continue to review and
respond to corporate governance requirements.

http://www.albidon.com/corporate-profile/corporate-governance.html
Role of the Board
The primary role of the Board of Directors is the protection and enhancement of long-term shareholder value.
YES, SERIOUSLY.

The Albidon website states here
http://www.albidon.com/corporate-profile/board-and-management.html
Mr (Sanlin)Zhang joined Jinchuan Group (JNMC) in July 1985
Mr (Sanlin) Zhang is now Vice President of JNMC
&
Mr Gao has been employed by JNMC for the past 26 years.
JNMC as in Jinchuan the majority shareholder in Albidon plc

Annual Report p15
Mr (Yimin) Zhang is an employee of Jinchuan Group Limited (Jinchuan) and is Jinchuan‟s chief representative in Australia

There it is in the company's own words, 3 of the 4 board members headed by the Chairman are directly employed by Jinchuan.

Let us have a look at some of the Principles in -
ASX Corporate Governance Principles and Recommendations with 2010 Amendments

Principle 1 � Lay solid foundations for management and oversight
Recommendation 1.1: Companies should establish the functions reserved to the board and those
delegated to senior executives and disclose those functions.
Recommendation 1.2: Companies should disclose the process for evaluating the performance of
senior executives.

Principle 2 - Structure the board to add value
Recommendation 2.1: A majority of the board should be independent directors
Recommendation 2.2: The chair should be an independent director
Recommendation 2.5: Companies should disclose the process for evaluating the performance of
the board, its committees and individual directors

Principle 5 - Make timely and balanced disclosure
Recommendation 5.1: Companies should establish written policies designed to ensure
compliance with ASX Listing Rule disclosure requirements and to ensure accountability at a senior
executive level for that compliance and disclose those policies or a summary of those policies

Principle 6 - Respect the rights of shareholders
Companies should respect the rights of shareholders and facilitate the effective exercise of those
rights.
Recommendation 6.1: Companies should design a communications policy for promoting effective
communication with shareholders and encouraging their participation at general meetings and
disclose their policy or a summary of that policy

Principle 8- Remunerate fairly and responsibly
Recommendation 8.2: The remuneration committee should be structured so that it:
consists of a majority of independent directors
is chaired by an independent chair

HOW DO YOU THINK THE CURRENT STATE OF ALBIDON STACKS UP AGAINST THAT LOT.

NINE CENTS

Email the company & tell them what you think.
ALL the Convertible Notes to go now.
CEO Jian Hua Sang to go now.
Useless board members to go now.

albidon dot action at hotmail dot com