Bannerman Energy Limited is a listed company and is subject to the rules of the Australian Securities Exchange Limited (ASX), OTC Markets (OTCQB) Namibian Stock Exchange (NSX), the Corporations Act 2001 (Cth) and other Australian and international laws and regulations.
Bannerman is committed to a corporate governance regime which reflects Bannerman’s business principles and is designed to address Bannerman’s responsibilities to its shareholders, employees, the community and other stakeholders.
ASX Principles and Recommendations
Corporate governance is a dynamic force which continues to evolve. In March 2003, the ASX Corporate Governance Council released its Principles of Good Corporate Governance and Best Practice Recommendations (ASX Principles).
These original ASX Principles provided a framework for good corporate governance. The ASX Principles have since been revised over time following wide consultation to include eight core principles.
All ASX listed companies are required to provide a statement in the annual report or website disclosing the extent to which they have followed the ASX Principles in the reporting period. Where companies have not followed all the ASX Principles they must identify those ASX Principles that have not been followed and give reasons for not following them.
Bannerman’s Statement on ASX Principles Compliance describes the manner in which Bannerman Energy complies with the ASX Principles.
Key features and practices of Bannerman’s governance framework are provided under the links below.
Health and Safety Policy
Bannerman aims to ensure that every one of its people goes home safe and healthy each day
The wellbeing of Bannerman’s personnel, contractors, suppliers, visitors and host communities is a core value for the Company. Bannerman has a Health and Safety Policy to facilitate its personnel looking out for each other, identifying work related risks and challenging unsafe practices. Bannerman’s approach to health and safety includes effective risk management, leadership, integration of the health and safety system into day-to-day operations, acknowledgment of good safety behaviour, and reviews and performance assessments.
During the year, Bannerman’s management team and field personnel made great strides in improving the safety awareness and performance of its employees and contractors.
Bannerman aims to conduct its activities in a manner which shows that we care for the environment
Bannerman seeks to create a culture where its personnel and those of its contractors manage work-related environmental risks and seek to continuously improve their environmental performance. Bannerman is also subject to significant environmental regulation in respect to its evaluation and development activities. The Company’s Environmental Policy aims to facilitate an appropriate standard of environmental care and to ensure that the Company is in compliance with applicable environmental legislation.
Bannerman’s approach is to be proactive in managing its environmental footprint through effective risk management, to care for the environment through leadership, cooperation, participation and consultation, to integrate its environmental management system into day-to-day operations, to continuously improve its environmental performance and to communicate regularly with stakeholders.
- aims to ensure the appropriate standard of environmental care is achieved;
- is aware of and is in compliance with all applicable environmental legislation;
- recognises that exemplary environmental management is crucial to our long term success and recognition;
- complies with, and endeavours to exceed, all applicable legislation and commitments; and
- will strive to continuously improve its environmental management performance.
Bannerman strives to build enduring and mutually beneficial relationships with its neighbouring communities
Bannerman has a Social Policy which seeks to ensure that the Company builds enduring and mutually beneficial relationships with its neighbouring communities. Bannerman’s approach is to treat people with decency and respect, to provide a healthy and safe workplace where its personnel can develop fully, to build relationships with with its stakeholders, to communicate regularly and to align its social responsibility activities with community priorities.
The success of Bannerman’s engagement with its host community in Namibia was highlighted in its recent Environmental and Social Impact Assessment, where the independent environmental consultant concluded that “Bannerman has shown itself to be an open, transparent company which strives to involve, inform, listen and incorporate stakeholders’ views during the mine design and ESIA/ESMP process”.
Bannerman has invested in Namibia since 2006 and in this time has contributed substantially to the communities in which it operates.
- is committed to identifying talented Namibian candidates and employees, developing their skills and in due course appointing them to appropriate leadership positions;
- has a bursary program which includes the sponsoring of five employees;
- has adopted a procurement policy which gives preference to Namibian businesses, with in excess of 80 percent of procurement sourced in Namibia;
- has played a meaningful role in establishing, mentoring, funding and growing businesses in the Erongo region of Namibia, including:
- facilitating the establishment of Elga Environmental CC, a local rehabilitation service provider;
- contributing significantly to the growth of Metzger Drilling, a local drilling contracting company; and
- investing in equipment, fixtures and fittings and a sample preparation laboratory established in Swakopmund.