The Directors of MGC Pharmaceuticals are committed to good corporate governance taking into account the Company’s size and current activities, and as such has a range of policies and processes in place to ensure the rights of the Company and our shareholders are protected.
ASX Listing Rule 4.10.3 requires ASX listed companies to report on the extent to which they have followed the Corporate Governance Principles and Recommendations (“ASX Principles”) 4th Edition released by the ASX Corporate Governance Council on 27 February 2019, and come into force for full financial years commencing on or after 1 January 2020. The Company chose to early adopt the 4th Edition effective from 17 September 2019. The ASX Principles require the Board to consider carefully the development and adoption of appropriate corporate governance policies and practices founded on the ASX Principles.
These Recommendations are not prescriptive, they are guidelines designed to cover companies of all sizes and produce an outcome that is effective, of high quality and integrity. The Company’s Board of Directors has reviewed these Recommendations and in most cases the Company was already achieving the standards required. In a limited number of instances, the Company has determined not to comply with the standard set out in the Recommendations largely due to the Recommendation being considered by the Board to be unduly onerous for a Company of its size. The ASX Corporate Governance Council encourages all companies to communicate openly with stakeholders via electronic methods. In accordance with this, all relevant Corporate Governance material is required to be made publicly available on the Company’s website in a clearly designated section. The links below will provide you access to information on the Company’s policies and procedures as required to be detailed by the ASX Corporate Governance Principles and Recommendations.