2e731431_rporate_Governance___PepinNini__EXPLANATION_OF_DEPARTURE
[BEST PRACTICE RECOMMENDATION] Principle 4.2 [NOTIFICATION OF DEPARTURE] A majority of members of the Audit Committee are not independent [EXPLANATION OF DEPARTURE] 
An Audit Committee of one-executive and one non-executive director has been established and has a formal charter. The Audit Committee is not in compliance with the Guidelines in that the majority of members are not independent. To safeguard the integrity of financial reporting, the Chairman of the Audit Committee is independent and regular sessions are held with the external auditors in the absence of management to discuss any issues or concerns the auditors may have. Separate audit committee meetings are held to finalise annual and half yearly financial reports before recommending approval by the board.
Corporate Governance - PepinNini
EXPLANATION OF DEPARTURE