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Whitehaven Coal Limited : Annual Report 2013
80 Whitehaven Coal Limited Annual Report 2013 Principle 3 -- Promote ethical and responsible decision making Whitehaven has a Code of Ethics and Values. The purpose of this code is to provide Directors and employees with guidance on what is acceptable behaviour. The code requires all Directors, managers and employees to maintain the highest standards of honesty and integrity. The Code of Ethics and Values can be viewed on Whitehaven's website. Whitehaven has a Securities Trading Policy which it has disclosed to the ASX in accordance with the ASX Listing Rules. The Securities Trading Policy sets out the windows in which key management personnel (including Directors) and certain other employees as nominated by the Board can trade in Whitehaven's securities and provides that all key management employees and certain other employees of Whitehaven and their families and/or trusts should not trade: • if they have inside information (that is, information that is not generally available, or if it were generally available, a reasonable person would expect it would have a material e ect on the price or value of the securities; or would, or would be likely to, in uence persons who commonly invest in securities in deciding whether to acquire or dispose of securities); • during certain periods pending announcements of Whitehaven's results (unless approval is obtained); and • for more than $50,000 worth of securities without the written approval from the Chairman. In addition, key management personnel and certain other employees are required to not trade for short-term or speculative gain. The Securities Trading Policy applies to all securities issued by Whitehaven and also to: • the securities of companies which are either a joint venture partner of Whitehaven or for which Whitehaven has made (or is planning to make) a takeover o er; and • trading by key management personnel and certain other employees in the securities of other companies in which Whitehaven has a substantial interest (10% or more). The recruitment and selection processes adopted by Whitehaven ensure that sta and management are selected in a non-discriminatory manner based on merit. Whitehaven also values diversity in the organisation. Amendments to the ASX Guidelines which seek to increase awareness regarding the bene ts of workplace diversity and to promote greater transparency and actions aimed at addressing barriers to diversity applied to the Company for the rst time in the 2012 nancial year. The Company recognises that people are its most important asset and is committed to maintaining and promoting workplace diversity. Diversity drives the Company's ability to attract, retain and develop the best talent, create an engaged workforce, deliver the highest quality services to its customers and continue to grow the business. The Board has adopted a Diversity Policy which describes the Company's diversity aspirations and sets minimum expectations to be met by the Company on workforce diversity. A copy of the Diversity Policy is available on the Company's website at http://www.whitehavencoal.com.au. Under the Diversity Policy, the Board has established measurable objectives. In FY2013 we set ourselves the following diversity objectives: • conduct training to build employee awareness and understanding of the Company's Diversity Policy and the importance of diversity in building a sustainable business • complete a review of pay equity across the business covering key diversity parameters, including gender • review the Company's employment arrangements to identify opportunities to promote and enhance diversity, and develop strategies to take advantage of these opportunities 6. CORPORATE GOVERNANCE STATEMENT CONTINUED Directors' Report
Annual Report 2012