Rangatira Annual Report 2025 - Flipbook - Page 72
Rangatira Investments
Female
Male
Female %
Male %
Board
2
5
28%
72%
Management
3
4
43%
57%
partner to the Rangatira’s audit for at least two years,
if they have held the role for five out of the previous
seven years. The final appointment of the external
auditor rests with the Board.
Risk management and compliance
Reporting and disclosure
The board is committed to maintaining a robust risk
management and compliance framework to ensure
Rangatira’s long-term success. It is responsible
for overseeing the identification, assessment,
and monitoring of key risks, as well as regulatory
compliance. Management regularly reviews these areas
and reports to the Board to ensure alignment with best
practices.
Disclosure
Rangatira is committed to providing timely, accurate,
and complete information, ensuring equal access for all
shareholders and stakeholders in accordance with USX
rules. All required disclosures have been made to USX
and are available at usx.co.nz.
Management has confirmed to the Audit committee
and the board that:
•
•
The financial statements of Rangatira have
been prepared in accordance with New Zealand
Generally Accepted Accounting Practice and
fairly present, in all material respects, the financial
position and operating results of the Rangatira.
Rangatira’s risk management and compliance
framework is appropriate and effective, with
practices in place to safeguard assets, monitor risk,
and identify material changes to Rangatira’s risk
profile.
Shareholder and stakeholder communications
Rangatira strives to maintain clear and effective
communication, making information about Rangatira
easily accessible. We encourage shareholder
participation by providing timely, focused updates on
our operations and results. Shareholder meetings are
held in a hybrid format - both online and in-person - to
maximise accessibility.
Meetings are scheduled at convenient times, and
shareholders are invited to submit questions before or
during the meeting. Following the formal proceedings,
there is also an opportunity for informal discussions
between shareholders, directors, and management.
Remuneration and performance
Cyber security and data protection
For the year ended 31 March 2025, Rangatira
experienced no data breaches, privacy complaints
from third parties or regulators, or any loss, theft, or
unauthorised disclosure of confidential information.
Directors’ remuneration structure
The board recommends directors’ remuneration within
shareholder-approved limits. For the year ending
31 March 2025, the total was $660,000 per annum,
approved at the 2023 AGM.
Internal financial control
The board holds overall responsibility for Rangatira’s
internal financial controls. While there is no separate
internal audit function, the board has established
policies and procedures to ensure sound internal
financial management. These include:
Directors receive a base fee and may earn additional
fees for serving as committee chairs or members, or for
special services approved by the board. Reasonable
expenses are reimbursed. Directors’ remuneration
is reviewed annually, with the current fee structure
detailed below.
Annual preparation and board approval of budgets,
forecasts, and strategic direction.
Fee Structure
Monthly reporting and review of financial and business
performance against both financial and non-financial
targets.
2025
2024
Chair
$129,875
$125,000
Directors
$77,925
$75,000
$15,000
$15,000
-
-
$5,000
$5,000
-
-
Board Fee
Audit committee
Chair
External auditor
The Audit committee oversees the external audit
process and recommends the appointment of the
external auditor to the board. To maintain audit
independence and integrity, Rangatira enforces a
policy that prevents the reappointment of a lead audit
72
Member
Remuneration committee
Chair
Member
