The Board of Premium follows the ASX best practice recommendations for listed companies.  These recommendations have been published as Guidelines by the ASX Corporate Governance Council and can be accessed through the ASX website.

The Guidelines set out best practice in the form of ten principles.  The Board of Premium has established policies to ensure compliance with each of these principles as follows:

1. Lay solid foundations for management & oversight
   Premium’s Board of Directors Charter sets out the Company Goals, Governance Process and relationship between the Board and the Company’s Investment Manager.
2. Structure the Board to add value
   The Board of Premium is currently comprised of 4 independent directors. The Directors’ experience, qualifications and relevant interests are detailed in this site.
3. Promote ethical and responsible decision making
   The Board and Management of Premium abide by a Code of Conduct designed to avoid conflicts of interest and unethical practice.
4. Safeguard integrity in financial reporting
   The Board adheres to the process of declarations and audit of all financial reporting as stated by the ASX Guidelines.  The Board’s Audit Committee is currently comprised of the following Premium directors: Mr Ken Stout, Committee Chair and Mr Tom Collins.
5. Make timely and balanced disclosure
   The Board complies with the ASX continuous disclosure requirements and has adopted a formal Shareholder Communications Policy to ensure that shareholders and the market remain fully informed of it activities and progress at all times.
6. Respect the rights of shareholders
   The Board takes an active interest in the Company’s communication with its shareholders and reviews all written shareholder communication at each Board meeting. The Board also rotates the location of the Company’s Annual General Meetings to make it possible for the geographically diverse shareholder base to attend.
7. Recognize and manage risks
   The Company’s investment portfolio is managed in accordance with a formal Management Agreement that specifies the management and reporting responsibilities of the Manager. The Board’s Audit and Risk Committee oversees the financial reporting of the Company in accordance with the Audit & Risk Committee Charter.
8. Encourage enhanced performance
   The Board has adopted a formal Charter that defines the process of performance measurement and review of individual members of the Board, the Board as a body and the Company’s manager.
9. Remunerate fairly and responsibly
   Premium does not have direct employees. The remuneration of the Company’s Investment Manager is determined in accordance with the Management Agreement. The Director’s Remuneration is set in accordance with the Company’s Non-Executive Director Remuneration Policy.
10. Recognize the legitimate interests of stakeholders
    The standards towards which the Board aspires in relation to the recognition of stakeholder interests are set out in the Company’s Code of Conduct.