Corporate Governance Policy
Strong corporate governance is essential to creating shareholder value and maintaining the confidence of investors.
Addax Petroleum Corporation (APC) has developed comprehensive corporate governance policies and procedures, and has adopted a “best practices” approach to corporate governance. We have an experienced Board of Directors, the majority of whom are independent from APC.
In addition, APC has separated the offices of Chairman and CEO with the Chairman being independent from both APC and AOG, parent company. The Chairman of APC is Mr Peter Dey, who previously chaired the Toronto Stock Exchange Committee on Corporate Governance in Canada and is a former Chair of the Ontario Securities Commission.
The Board of Directors has also adopted recommendations set out in Canadian Securities Administrators National Policy 58-201 – Corporate Governance Guidelines. These include, among other things, creating an Audit Committee and a Corporate Governance, Nominating and Compensation Committee, each comprised solely of independent directors, as well as a Technical and Reserves Committee, comprised of a majority of independent board members.
Corporate Governance forms the basis of all our decision-making and monitoring processes. Our actions are aligned with clear defined ethical principles. Please, download the documents below to read about those principles.
