Disclosure Policy

SOUTH PACIFIC RESOURCES LTD

DISCLOSURE POLICY

South Pacific Resources Ltd recognizes its obligations under continuous disclosure obligations of the Australian Stock Exchange (ASX) Listing Rules and Corporations Act to keep the market fully informed of information which may have a material effect on the price or value if its securities.

ASX Listing Rule 3.1 states that “Once an entity is or becomes aware of any information concerning if that a reasonable person would expect to have a material effect on the price or value of the entity’s securities, the entity must immediately tell ASX that information”

The company has formulated policies and procedures to discharge its disclosure requirements to ensure information is released promptly to the market and it fairly available to all those with an interest in the company.  These policies and procedures are summarised as follows:

  • The company has appointed the managing Director, with assistance from the Company Secretary and Chairperson as required, to be responsible for communication with the ASX in relation to disclosure obligations and Listing Rule matters.
  • The MD in consultation with the Company Secretary and the Chairman, if necessary, is responsible for assessing the materiality of information and drafting all disclosures.
  • Directors, officers and employees of the company must report immediately any potentially material information to the MD and in the MD’s absence, the Company Secretary and the Chairperson.
  • Only the MD is authorized to issue statements or make verbal comments to the media, analysts and other interested parties unless prior approval is give to other Directors or officers of the Company.
  • Any releases or statements to media, analysts and other interested parties containing material information must be first lodged with the ASX prior to being made public in any other way.
  • No information regarding actual or forecast financial performance will be provided to any external party unless it has been provided to the market generally via an ASX announcement.
  • There will be no communication with any external parties regarding financial performance of the company between the end of a reporting period and the release of financial results to the market generally via an ASX announcement.
  • Any presentations to analysts or communications with shareholders or other stakeholders on a one-on-one basis will not contain any information which may have a material effect on the price of the company’s securities unless it has previously provided to the market generally via an ASX announcement.

 

These procedures are supported by procedures to provide the shareholders with important information in a timely manner via electronic communication.  The shareholder communication policies are summarised below and operate in conjunction with the general disclosure policies.

 

  • The company aims to maintain an up to date website which includes all information announced to ASX as well as other company information.  All ASX announcements are posted to the company website as soon as possible after confirmation of receipt is received from ASX, including all financial reports.
  • The website can be used as an effective tool for shareholders to make enquire to the company via email or provide company contact information.
  • The company operates an email register for shareholders who wish to receive communications from the company via email of any announcements made to the ASX once released to the market.
  • All Notices of Meetings and Explanatory Notes are placed on the website once released to the ASX and sent to the shareholders.
  • All shareholders receive the full Annual Report in hard copy unless a request not to receive the document is sent by the Shareholder.  The report includes an annual review of operations of the group, changes in the state of affairs and details of future developments in addition to other disclosures required by the Corporations Act 2001 and ASX Listing Rules.
  • The half year report contains summarised financial information and a review of operations of the group, this report is lodged with ASX and posted on the company’s website.

 

South Pacific Resources Ltd regards its continuous disclosure obligations very seriously.  Any suspected breaches of these policies must be reported to the Chair immediately for reporting to the board.  Any breach of these policies may result in disciplinary action including verbal or written warnings.