BWP TRUST ANNUAL REPORT 2015
29
and security holder representative groups. The primary objective
of the investor relations program is to allow investors and other
financial market participants to gain a greater understanding of the
Trust’s business, governance, financial performance and prospects
relative to the market and other Australian REITs.
Listed trusts established in Australia as registered managed
investment schemes are not required by the Corporations Act
to have an AGM. As a general rule, unitholder meetings are held
when required to approve significant related party transactions
and amendments to the Trust’s Constitution.
DIVERSITY
The requirement for a listed entity to have and to disclose a
diversity policy is not applicable to externally managed listed
entities. The Trust is an externally managed listed entity and does
not have any direct employees.
The responsible entity Board and seven personnel are subject to
the Wesfarmers diversity policy. To the extent that it can with a
small team, the responsible entity is committed to working within
the guiding principles and objectives set out in the Wesfarmers
diversity policy. This is demonstrated daily by its support for
flexible working arrangements as required to enable its team
members to meet important family responsibilities, and in so doing
attracting a high calibre team.
CONFLICTS MANAGEMENT POLICY
The Trust’s compliance plan sets out the Conflicts Management
Policy, including the procedure for managing conflicts of interest. The
policy applies to all directors and officers of the responsible entity.
The policy identifies circumstances where conflicts of interest may
arise and outlines the requirement to evaluate conflicts, control
or avoid conflicts, and disclose relevant conflicts of interest. The
policy also sets out who is responsible for managing conflicts
and addresses the requirement to monitor, review, and have
appropriate approval of the conflicts management policy.
The board has also adopted a Directors’ Conflict of Interests Policy
that governs the disclosure of directors’ interests and procedures
for managing conflicts. This policy is available on the website.
CONTINUOUS DISCLOSURE
AND COMMUNICATIONS WITH
UNITHOLDERS
The responsible entity has systems in place to ensure timely
disclosure of price sensitive information to the market. Officers of
the Trust receive training on their continuous disclosure obligations
and all announcements made to the market, including information
provided to analysts, are posted to the Trust’s website.
The Continuous Disclosure and Market Communications Policy is
available on the website.
To enhance communication with unitholders, important
information including details of the Trust’s properties, financial
performance, ASX announcements, governance practices,
distribution history and the Trust’s complaints handling procedure
can be found on the Trust’s website.
The responsible entity provides advance notification
of teleconferenced investor briefings following results
announcements and makes these accessible for all investors.
ETHICS AND CONDUCT
The responsible entity adheres to theWesfarmers Limited code of
conduct that sets out minimum acceptable standards of behaviour
to ensure that dealings by all employees including directors are
conducted with integrity and honesty, and that the highest standards
of corporate behaviour and accountability are maintained. This Code
is available on theWesfarmers Limited website.
SUSTAINABILITY
The responsible entity is committed to acting responsibly
and ethically and operating its business in a manner that
is sustainable. The extent to which the Trust has a material
exposure to economic, environmental and social sustainability
risks, and how it manages or intends to manage those risks
is disclosed in the Managing Director’s Report under Risk
Considerations. Further information on the Trust’s sustainability
principles and practices are provided on page 18.
Minchinbury, NSW
