The Board of Directors of Volt Power Group Limited (“Volt” or “the Company”) is responsible for the corporate governance framework of the Company and its related bodies corporate. In establishing this framework, the Board has considered and reports against the Principles of Corporate Governance and Best Practice Recommendations (4th Edition) as published by the ASX Corporate Governance Council (“ASX Corporate Governance Principles”).
The ASX Corporate Governance Principles articulate eight core principles of good corporate governance and, for each of those principles, recommendations as to their implementation. Adoption of the recommendations is not compulsory, however under the Listing Rules of ASX Limited (“ASX”) a listed entity is required to provide an annual statement disclosing the extent to which it has adopted the recommendations for the reporting period and, if it has not adopted any of the recommendations, to state the reasons for not following the recommendations.
Volt reviews all its corporate governance practices and policies as required and compares its current practices and policies against the ASX Corporate Governance Principles with a view to ensuring its corporate governance practices and policies are up to date and reflect Volt’s current scale and complexity of operations.