The Board of Global Petroleum Limited (“Global Petroleum”, or “Company”) is committed to maintaining the highest standards of corporate governance.
Corporate governance in essence is about adopting and maintaining a set of values that underpin the Company’s everyday activities – values that ensure fair dealing, transparency of actions, and protect the interests of all stakeholders. The Board considers corporate governance forms part of a broader framework of corporate responsibility and regulatory oversight.
The Company maintains detailed corporate governance policies and has adopted the Quoted Companies Alliance Governance Code – 2018 (“QCA Code”). Global Petroleum aims to comply with the QCA Code to the maximum extent practicable, considering the Company’s resources, stage of development and current priorities. Set out below are the 10 guiding principles of the QCA Code, the application of these principles as described in the QCA code, and an overview showing how the Company meets those principles as well as identifying where the Company does not currently comply, and why.