Corporate Governance
Corporate governance issues are high on the agenda of The Village Building Co. Board. Whilst the Company has a transparent business with physical real estate assets which can be readily identified and valued, the Board nevertheless continues to closely examine its corporate governance procedures.
The Board comprises a majority of non-executive directors who draw upon their extensive business experience to guide the strategic direction of the Company. Performance is benchmarked against the broader industry and the role of the Company’s Audit Committee has been expanded to include the ongoing review of corporate governance and compliance matters. Accordingly the committee is now called Audit and Corporate Governance Committee. This committee is charged with the responsibility of reporting and making recommendations to the full Board on a range of matters including statutory compliance with the Corporations Act 2001 and related laws and policies set by ASIC, statutory compliance with environmental laws, the duties and responsibilities of directors and officers, occupational health and safety issues and the Company’s relationships with external parties.
The charter of the committee is available to any shareholder upon application to the Company Secretary.