Other Corporate Governance

Continuous Disclosure

As a listed entity, the Company has an obligation under the Listing Rules to maintain an informed market in respect to its securities. Accordingly, we keep the marker advised of all information required to be disclosed under the Rules which we believe would have material affect on the price or value of the Company's securities..

In addition to the Half Yearly and Annual reporting requirements, there is a constant stream of information being provided to the Stock Exchange. Of particular note, is the disclosure after each month-end of the Company's Net Asset Backing per Share. This is also disclosed at other times if a material change in value has occurred. All important Stock Exchange announcements are also posted to the Company's website. 

 Continuous Disclosure Policy


Risk Management

The Company has adopted a Risk Management Policy and Framework which aims to provide clear guidelines on the management of risks to enable the achievement of strategic and operational objectives. It also aims to cover all material risks that the entity faces. It is to be adhered to by all employees and Board members and, where relevant, contractors and consultants.  The risk management methodology adopted by Mirrabooka is based on the AS / NZS ISO 31000:2009 Risk Management – Principles and Guidelines.   

The Board are assisted in their Risk Management Activities by the Audit Committee which meets at least 2 times a year. Co-ordination of Risk Management activities is done by the CFO, who reports to the Audit Committee on such matters. 

 Risk Management Framework


Investment Risk

The Company addresses Investment Risk through the careful selection of companies that it invests in, diversification of investments across sectors and industries and by being a long-term investor. Concentration and value-at-risk reports are part of the Company's review.

A small Trading Portfolio is held for short-term opportunities, and options are written over part of this portfolio. Through the Investment Committee, close control is maintained of options transactions which are only written over stocks held in that portfolio and designed to enhance returns.

Credit and settlement risk are also reviewed as part of the Risk Management Framework.


Operational Risk

The Company has a set of internal controls and review processes to mitigate against systems and process risk and error and fraud. These internal controls include, inter alia, peer review, reconciliations, different authority levels and sign-offs and dual signatories. The Company also has a Disaster Recovery Programme to mitigate the effects of any disaster and enable the business of the Company to continue.

Legal, regulatory and reputational risk are also part of the Risk Management framework, and considered by the Audit Committee. As well as experienced staff and directors, the Company utilizes external advisors to mitigate these risks.


Whistleblower Protection Policy  

The Company has adopted a Whistleblower Protection Policy which sets out a formal framework within which individuals are able, in a secure way, to express their genuine concerns about misconduct, an improper state of affairs or circumstances, unlawful behaviour or breaches of policy, free from the threat of victimisation or reprisal and on the understanding that their concerns will be investigated and that, where appropriate, action will be taken to redress the situation. 

Whistleblower Protection Policy