Statement of Corporate Governance
The Company and the Board of Directors recognise the importance of corporate governance to the effective management of the Company and to the protection of its employees and shareholders. The Company’s approach to significant issues of corporate governance is designed with a view to ensuring that the business and affairs of the Company are effectively managed so as to enhance shareholder value. The Board of Directors fulfills its mandate directly and through its committees at regularly scheduled meetings or as required. Frequency of meetings may be increased and the nature of the agenda items may be changed depending on the state of the Company’s affairs and in light of opportunities or risks faced by the Company. The directors are kept informed of the Company’s operations at these meetings as well as through reports and discussions with management on matters within their particular areas of expertise.
The Company’s corporate governance practices are substantially in compliance with applicable Canadian guidelines. The Company continues to monitor developments in the United Kingdom and Canada with a view to further revising its governance policies and practices, as appropriate.
