Other Commitees

An Audit Committee is comprised of three director, Andrew Guy (Chairman), Graham Kraehe and John Paterson. They meet periodically to review issues relating to the controls applied to the Company’s activities, accounting policies, the content of financial statements and related issues. Meetings of the committee are attended by a partner from the Company’s auditors, PricewaterhouseCoopers and the Managing Director, R.E. Barker, by invitation.

Nomination Committee

The Nomination committee, comprises three members of the Board with G.J. Kraehe as the Chairman, and includes A.F. Guy and B.B. Teele. It considers matters relating to the orderly renewal of the Board, Board performance and how to attract and retain directors of high calibre with the appropriate experience and skill to contribute successfully to the oversight of the Company.

Consideration of potential Directors to fill vacancies is also undertaken by the Board Nomination Committee. Matters to be considered by the Committee will include the ability of the proposed director to contribute towards achievement of the Company’s goals, breadth of business experience and knowledge of the Australian investment scene.