Company will disclose this information in its Annual Report and on its ASX website as part of its continuous disclosure obligations. Principle 8: Remunerate fairly and responsibly Recommendation 8.1 The Company does not have a Remuneration Committee. The Company’s Corporate Governance Plan contains a The of a listed entity should: PARTIALLY Remuneration Committee Charter that provides for the have a remuneration committee which: creation of a Remuneration Committee (if it is considered it will benefit the Company), with at least three members, a has at least three members, a majority of whom majority of whom must be independent Directors, and which are independent Directors; and must be chaired by an independent Director. is chaired by an independent Director, The Company does not have a Remuneration Committee as and disclose: the considers the Company will not currently benefit the charter of the committee; from its establishment. In accordance with the Company’s Board Charter, the Board carries out the duties that would the members of the committee; and ordinarily be carried out by the Remuneration Committee as at the end of each reporting period, the under the Remuneration Committee Charter including the number of times the committee met throughout following processes to set the level and composition of the period and the individual attendances of remuneration for Directors and senior executives and the members at those meetings; or ensuring that such remuneration is appropriate and not excessive: if it does not have a remuneration committee, disclose that fact and the processes it employs for setting the the Board devotes time at the annual Board meeting to level and composition of remuneration for Directors assess the level and composition of remuneration for and senior executives and ensuring that such Directors and senior executives. remuneration is appropriate and not excessive. Will consult with independent advisors to seek information in regards to the alignment of remuneration of Directors and senior executives with current market trends. Recommendation 8.2 The Company’s Corporate Governance Plan requires the Board to disclose its policies and practices regarding the remuneration A listed entity should separately disclose its policies and YES practices regarding the remuneration of non-executive
Company will disclose this information in its Annual Report and on its ASX website as part of its continuous disclosure obligations. Principle 8: Remunerate fairly and responsibly Recommendation 8.1 The of a listed entity should: have a remuneration committee which: has at least three members, a majority of whom are independent Directors; and is chaired by an independent Director, and disclose: the charter of the committee; the members of the committee; and as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or if it does not have a remuneration committee, disclose that fact and the processes it employs for setting the level and composition of remuneration for Directors and senior executives and ensuring that such remuneration is appropriate and not excessive. PARTIALLY The Company does not have a Remuneration Committee. The Company’s Corporate Governance Plan contains a Remuneration Committee Charter that provides for the creation of a Remuneration Committee (if it is considered it will benefit the Company), with at least three members, a majority of whom must be independent Directors, and which must be chaired by an independent Director. The Company does not have a Remuneration Committee as the considers the Company will not currently benefit from its establishment. In accordance with the Company’s Board Charter, the Board carries out the duties that would ordinarily be carried out by the Remuneration Committee under the Remuneration Committee Charter including the following processes to set the level and composition of remuneration for Directors and senior executives and ensuring that such remuneration is appropriate and not excessive: the Board devotes time at the annual Board meeting to assess the level and composition of remuneration for Directors and senior executives. Will consult with independent advisors to seek information in regards to the alignment of remuneration of Directors and senior executives with current market trends. Recommendation 8.2 A listed entity should separately disclose its policies and practices regarding the remuneration of non-executive YES The Company’s Corporate Governance Plan requires the Board to disclose its policies and practices regarding the remuneration
Corporate-Governance-Statement-NSB-26-October-2018.docx