Principles & Policy 

The Board has ultimate responsibility for the strategic direction of Rakon and oversight of the management of Rakon for the benefit of Shareholders. Specifically, the responsibilities of the Board include:

• working with management to establish the strategic direction of Rakon;
• monitoring management and financial performance;
• monitoring compliance and risk management;
• establishing and monitoring the health and safety policies of Rakon;
• establishing and ensuring implementation of succession plans for senior management; and
• ensuring effective disclosure policies and procedures.

In discharging their duties, Directors have direct access to and may rely upon Rakon’s senior management and external advisers. Directors have the right, with the approval of the Chairman or by resolution of the Board, to seek independent legal or financial advice at the expense of Rakon for the proper performance of their duties.

The Board comprises six Directors: a non-executive Chairman, two executive Directors and three non-executive Directors. Under the Constitution, the Independent Chairman holds a casting vote at Board meetings. Board members have an appropriate range of proficiencies, experience and skills to ensure that all governance responsibilities are fulfilled and to achieve the best possible management of resources.

In accordance with the Constitution, the Board has resolved that the Managing Director will not be required to retire by rotation.

The Board has adopted a Securities Trading Policy.