Corporate Code of Ethics
Our Corporate Code of Ethics is supported by written policies and procedures on each of these standards, by providing training to employees on the details and importance of these standards, and by formal communication systems to ensure these standards are observed, discussed and reinforced. Our Directors and Management team will lead by example, demonstrating their commitment to this Code of Ethics at all times through their personal behaviour and through the guidance they provide to our staff.
In general, all Directors and employees are expected to act honestly in all their business dealings and to act in the best interests of the Company at all times.
- Respect, fairness, honesty, courtesy, and good faith will guide all relations with employees.
- Opportunity without bias will be afforded each employee in relation to demonstrated ability, initiative, and potential.
- We will strive to create and maintain a work environment that fosters honesty, personal growth, teamwork, open communications, and dedication to our vision and values.
- We will strive to provide a safe workplace that at a minimum meets all health and safety laws and regulations.
- The privacy of an individual's records will be respected and will not be disclosed without proper authority unless their there is a legal obligation to do so.
- We support and uphold at all times the tradition and integrity of the jewellery industry, and conduct our business in such a manner that will reflect credit on our industry and us.
- All our marketing and advertising will be accurate and truthful.
- We are committed to providing the highest quality, service, and value to our customers. We provide a Lifetime Diamond Warranty on selected diamond products, a 12-month Guarantee for all other jewellery items, a 3 year guarantee on every Michael Hill Watch, and lifetime battery replacement on every Michael Hill Watch. We provide a 30-day Change of Mind policy that is a money back guarantee on all purchases if for any reason the customer is not completely satisfied.
- We will protect customer information that is sensitive, private, or confidential just as carefully as our own.
Our Business Partners
- Suppliers win our business based on product or service suitability, price, delivery, and quality. We also expect suppliers to have high ethical standards in their business practices.
- We require honest and accurate recording and reporting of any and all information in order to make responsible business decisions.
- All financial records and accounts will accurately reflect transactions and events, and conform both to required accounting principles and to our Company's system of internal controls. No false or artificial information will be tolerated.
- We will safeguard all sensitive information. We will not disclose inside information that has not been reported publicly.
- We wish to be good corporate citizens and wish to build positive relationships with communities where we have a presence. Our efforts focus on the arts, local schools and charities, through periodic donations, including jewellery, to good causes.
Company Property and Assets
- Our Directors and employees will properly use company assets and safeguard and protect any company property under their care.
- In conducting business with due skill, care, and diligence, we seek always to comply with both the letter and spirit of relevant laws, rules, regulations, codes, and standards of good market practice in the countries we do business in.
- Our Company does not make political contributions and has no political affiliations.
Share Trading by Directors and Officers in MHJ shares
Michael Hill International is now listed on the ASX and is subject to the corporate governance requirements of the ASX.
The Company maintains a secondary listing on the New Zealand Stock Exchange (NZX) (ASX/NZX: MHJ).
The Company has adopted a Trading Policy which is intended to ensure that people who discharge managerial responsibilities (including but not limited to directors), do not abuse, and do not place themselves under suspicion of abusing, inside information that they may be thought to hold, especially in periods leading up to an announcement of the Company on the ASX and the NZX.
The Trading Policy sets out the procedure for trading in securities of the Company, and generally prohibits insider trading. The policy aims to provide directors and employees and any other persons who may be associated with the Company, with guidance on how and when trades in the Company's securities may take place and when trading is strictly prohibited.
Under the terms of the Trading Policy, a "Restricted Person' (as identified in the Trading Policy) must not deal with securities of the Company unless a clearance to deal is obtained in accordance with the Trading Policy, or the dealing is an Excluded Dealing (also identified in the Trading Policy). Further, a Restricted Person must not deal with securities of the Company if such a dealing would involve:
- (a) Use of inside information;
- (b) Short-term selling;
- (c) Short selling; or
- (d) Hedging transactions.
The Trading Policy provides particular disclosure and approval requirements for the dealing in the Company's securities by the Company's directors, chairperson, CEO and company secretary, and also sets out the Company's policy on margin loan arrangements (which are permitted under the policy but must be disclosed to the Board through a Clearance Officer).
The Trading Policy is set out in full in the Company's Corporate Governance Charter which is available online at investor.michaelhill.com .
Conflicts of Interests
- Employees will not accept anything of value from a customer, vendor, or business associate which would impair or be presumed to impair their judgment in business matters.
- The acceptance of gifts and gratuities is discouraged and any over $50 must be entered in the Gifts Register held by the Financial Controllers. We may accept meals/hospitality that are not lavish and are reasonable in the context of doing business. Guidelines to use for the acceptance of any gift are: Will this influence my decision making? Does it place me in obligation? Could it be seen as an inducement? How would this look if reported by the media?
- Our employees will avoid any conflict of interest professionally and personally which might prevail or appear to prevail over the interests of the Company.
- Directors' conflicts of interests are dealt with in the Board Operations Manual. At all times, a Director must be able to act in the interests of the organization as a whole. The interests of associates, individual shareholders and the personal interests of the Director and his family must not be allowed to prevail over those of the Company and its shareholders generally.
- Employees who know, or have genuine suspicions of any breaches of our Code of Conduct, Policies & Procedures, or any legal violation in relation to work related issues should report such matters promptly to their manager. If the employee does not feel comfortable discussing the issue with their manager, they should talk to another member of management, the Internal Auditors, or Human Resources.
- Employees will not be blamed for speaking up. The Company will make proper efforts to protect the confidentiality of employees who do raise concerns. Any attempt to deter employees raising proper concerns will be treated as a serious disciplinary action.