The Company has several corporate governance practices in place that are formally embodied in corporate governance policies and codes adopted by the Board (“Policies”).
The aim of the Policies is to ensure that the Company is effectively directed and managed, that risks are identified, monitored and assessed and that appropriate disclosures are made. In preparing the Policies, the Directors considered the ASX Principles of Corporate Governance and Best Practice Recommendations (“Recommendations”). The Directors incorporated the Recommendations into the Policies to the extent that the Recommendations were appropriate, taking into account the Company’s size, the structure of the Board, its resources and its proposed activities. The Board has adopted the following Policies:
In accordance with ASX Listing Rule 4.10.3, the corporate governance statement included in the Company’s annual report discloses the extent to which the Company has followed the CGC Recommendations by detailing the Recommendations that have not been adopted by the Company and the reasons why they have not been adopted. The corporate governance practices disclosed by Range Resources Ltd in the corporate governance statement are in place throughout the reporting year.
As the Company and its activities grow, the Board will consider the implementation of additional corporate governance structures and committees.