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Hidefield Gold plc is committed to meeting high standards of corporate governance and acting responsibly in all the Company's business activities. The Company is committed to maintaining the highest standards of business conduct and ethics, as well as full compliance with all applicable government laws, rules and regulations, corporate reporting and disclosure, accounting practices, accounting controls, auditing practices and other matters relating to fraud against shareholders.
The Company has established appropriate subcommittees, adopted an Audit Committee Charter, a Code of Business Conduct and Ethics Policy, and a Whistleblower Policy.
Audit Committee
The Audit Committee meets regularly to discuss accounting and internal audit issues and the preparation and release of half yearly and annual results. When finalising the annual results, Audit Committee meets with the independent auditors, BDO Stoy Hayward LLP to discuss the audit preparation process, the results themselves and the Auditor's assessment of the Company's internal controls. The members of the Audit Committee are Robert Ashley (Chairman) & Francis Johnstone.
The Company has adopted an Audit Committee Charter which addresses the mandate of the Committee, the composition, independence, expertise of the members, roles and responsibilities, external audit function, internal controls, financial reporting, annual and interim financial statements, release of financial information, non-audit services, delegation of authority, reporting responsibilities, resources and authority of the Committee, and compliance with laws and regulations
Compensation Committee
Compensation Committee meets at least once per year and is responsible for setting the remuneration for all Executives and all members of the Board of Directors, including stock option awards. The members of the committee are Francis Johnstone (Chairman) and Robert Ashley.
Code of Business Conduct & Ethics
The Company has adopted a Code of Business Conduct and Ethics which addresses the purpose of the code, the workplace (to include a non-discriminatory environment, harassment-free workplace, sexual harassment, conflict of interest, gifts and entertainment, competitive practices, supplier and contractor relationships, public relations, and governmental relations), legal compliance, information and records, company assets, and reporting of violations.
Whistleblower Policy
The Company has adopted a Whistleblower Policy and pursuant to its charter, the Audit Committee of the Board of Directors of the Company is responsible for ensuring that a confidential and anonymous process exists whereby persons can report any Accounting Concerns relating to the Company and its subsidiaries. In order to carry out its responsibilities under its charter, the Committee has adopted this Whistleblower Policy.
For the purposes of this Policy, "Accounting Concerns" is intended to be broad and comprehensive and to include any matter, which in the view of the complainant, is illegal, unethical, contrary to the policies of the Company or in some other manner not right or proper.
The Company's directors, officers, employees, consultants and contractors have been made aware of the Policy and a copy of the Policy has been distributed to all concerned. The Company will advise all concerned whenever significant changes are made and new directors, officers and employees will be given information about the Policy and educated about its importance.
Board Teleconferences and Regular Board Meetings
The Board of Directors holds regular teleconference meetings to discuss the business activities of the Company. However, the Board of Directors also holds regular Board of Director Meetings at least four times per year.
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