2e731431_rporate_Governance___PepinNini__EXPLANATION_OF_DEPARTURE
[BEST PRACTICE RECOMMENDATION] Principles 2.2 and 2.3 [NOTIFICATION OF DEPARTURE] The Chairman is the Managing Director of the Company [EXPLANATION OF DEPARTURE] 
The board considers the position of Mr Norman Kennedy as Chairman and Managing Director to be appropriate as he founded the Company, is a sustantial shareholder, has been instrumental in the development of the Company, has a comprehensive knowledge of its operations and has successfully built value for shareholders since the Company listed on the ASX. Mr Kennedy’s industry experience and his involvement with the Company since its inception are well recognised and viewed positively by shareholders. Clear protocols are in place to deal with conflicts of interest. Mr Chris Lambert acts as an independent Chairman when the board is discussing items in which a conflict of interest may arise. The board does however recognise that as the Company expands its operations the ability of the Chairman to provide an independent view of management may require the appointment of an independent Chairperson in the future.
Corporate Governance - PepinNini
EXPLANATION OF DEPARTURE