The governance arrangements at Caltex Australia Limited are set by the Board having regard to the particular circumstances of Caltex and the best interests of shareholders. Caltex is committed to best practice in corporate governance where these practices are appropriate and add value to Caltex. The Board and management of Caltex maintain a constant interest in governance, including assessing the guidelines of regulatory and investor bodies and considering other national and international practices. This leads to the governance arrangements being reviewed regularly to ensure compliance with legal requirements, to meet the expectations of shareholders and to best address the circumstances of Caltex. During 2007, all Board and Committee Charters, as well as the Caltex Charter of Director Independence, the Caltex Share Trading Policy, the Caltex Continuous Disclosure Policy, the Caltex Shareholder Communications Policy and the Code of Conduct were reviewed and revised by the Board.
The tabular information on the following pages shows compliance by Caltex Australia Limited against the recommendations of the ASX Corporate Governance Council in accordance with Listing Rule 4.10. This statement also provides information on other governance practices adopted by Caltex Australia Limited. This statement is current as at the date of the 2007 Directors’ Report and, unless otherwise indicated, the information was true for the whole of the financial year commencing on 1 January 2007. The information provided below contains references to the Caltex web site (www.caltex.com.au/about_gov.asp). If a shareholder does not have access to the internet, they may contact the Caltex Secretariat to obtain copies of any of the documents. This statement should be read in conjunction with the Directors’ Report.