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Health and SafetyCodes of Conduct
Skip Navigation LinksCorporate Governance Statement > Securities Ownership and Dealings

SECURITIES OWNERSHIP AND DEALINGS

The Company has a Policy for Trading in Company Securities which is binding on all Directors and employees. The Policy was updated in August 2010. This was due to the Company’s largely expanded workforce and, rather than specific approvals to trade required from all employees, the amended policy restricts this requirement to a group of Restricted Employees. This group consists of all Directors and officers and other key personnel as nominated by the Chairman and Company Secretary. Prescribed ‘blackout’ periods are included, during which all Directors, officers and Restricted Employees will be prohibited from dealing in the Company’s securities. This is in addition to the overriding prohibition against dealing in the Company’s securities when a person is in possession of inside information. In addition, all Directors, officers and Restricted Employees are required to complete an application form to gain the written acknowledgement of either the Chairman, Managing Director/CEO or the Company Secretary before they deal in the Company’s securities.

The Company’s Policy also prohibits hedging of options granted under share options plans. This relates to both vested and unvested options. Prohibited hedging practices include put/call arrangements over “in money” options to hedge against a future drop in share price. The Board considers such hedging to be against the spirit of a share option plan and inconsistent with shareholder objectives.

At the end of 2008 the Company introduced an online compliance training module to assist in monitoring understanding of this Policy. This was initially trialled with head office staff and, due to the positive results and increased awareness of the Policy, this has been rolled-out to key employees across the Group.

© 2011Paladin Energy Ltd
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