Ardent Leisure Group (Group) is a stapled security and trades on the Australian Securities Exchange under the code "AAD". The Group comprises Ardent Leisure Trust (Trust) and Ardent Leisure Limited (ALL). The responsible entity of the Trust is Ardent Leisure Management Limited (ALML).
The Directors of the Group are committed to the establishment of a flexible and effective system of corporate governance and have set out the respective roles and responsibilities of the Board and senior management in a Board Charter.
In March 2003, the ASX released its new "Principles of Good Corporate Governance and Best Practice Recommendations" document (pdf). These principles were amended in August 2007 with the release of the second issue of Corporate Governance Principles and Recommendations.
In all there are 8 "Principles" which deal with various aspects of what the ASX Corporate Governance Council considers to be "best practice" with respect to corporate governance and communication.
The principles provide a good reference in determining best practice, while recognising that one size does not fit all. Other than those relating to audit committees for the Top 500 Companies, a listed entity can choose not to follow a recommendation. If it does not follow a particular recommendation, it must explain why in its annual report (ie the "if not, why not" approach).
The following documents provide information on our corporate governance practices:
Corporate governance documents