King Solomon Mines

Continuous Disclosure Policy

Continuous Disclosure Policy

 

Continuous Disclosure obligations require the Company to keep the market fully informed of information that may have a material effect on the price or value of the Company’s securities and to correct any material mistake or misinformation in the market.  The Company discharges these obligations by releasing information to the ASX in the form of an ASX release or disclosure in other relevant documents (for example, the Company’s Annual Report).

 

1                     Procedures

 

1.1                Standing Obligations of Directors, Executives and Senior Managers

 

As soon as a Director, executive or senior manager becomes aware of information that:

 

  • is not generally available (ie. the information in question has not been included in any Annual Report, ASX Release or other publication of the Company); and
  • may be price sensitive (ie. it is likely to have a financial impact or impact on the reputation of the Company that may be considered material), the Director, executive or Senior Manager must provide to the CEO the following information:
    • a general description of the matter;
    • details of the parties involved;
    • the relevant date of the event or transaction;
    • the status of the matter (for example, final/negotiations still in progress/preliminary negotiations only);

 

1.2          Further Obligations of Executives and Senior Managers

 

The following procedures will apply at all times to safeguard against inadvertent breaches of the Company’s continuous disclosure obligations:

 

(a)           each member of the Company’s senior management team must: IMMEDIATELY notify the CEO as soon as they become aware of potential material information that should be considered for release to the market.

 

(b)           The CEO will:

(1)           review the possibly material information reported by senior management;

(2)           consult with the Chairman and, where appropriate the Directors, to determine what action, if any, is appropriate;

(3)           determine  whether any of the information is required to be disclosed to the ASX.

 

2              Analyst/Media Briefings

 

Information provided to, and discussions with, analysts or the media are also subject to the Continuous Disclosure Policy.

 

Material information must not be selectively disclosed (ie. to analysts or the media) prior to being announced to the ASX. 

All inquiries from analysts must be referred to the CEO. All material to be presented at an analyst briefing or released to the media must be approved by or referred through the CEO prior to briefing.

 

All inquiries from the media must be referred to the CEO.

 

3              The Role of the Company Australian Agent

 

The Company has nominated the Managing Director, with assistance as requested from the Company’s Australian Agent, as the person with primary responsibility for all communication with the ASX. 

 

The Managing Director, with assistance as requested from the Australian Agent, is specifically responsible for:

(a)           liaising with the ASX in relation to continuous disclosure issues;

(b)           ensuring that the system for the disclosure of all material information to the ASX in a timely fashion is operating;

(c)           co-ordinating the actual form of disclosure, including reviewing proposed announcements by the Company to the ASX and liaising with the CEO, the Chairman of the Board and the Board in relation to the form of any ASX releases;

(d)           liaising with the CEO, the Board of Directors or senior management as appropriate, in relation to the disclosure of information;

(e)           keeping a record of all ASX and other releases that have been made;

(f)            periodically reviewing the Company’s disclosure procedures in light of changes to the ASX Listing Rules or Corporations Act 2001 and recommending any necessary changes to the procedures to the Board; and

(g)           preparing regular disclosure reports to the Board which advise of:

(1)           material matters considered and the form of disclosure (if any); and

(2)           any material changes to the Company’s continuous disclosure processes or policy.