Founded in 1923, Whitefield has a long history and solid track record of delivering value to its shareholders.

Holders of Whitefield’s Ordinary Shares have received regular dividends and growth in the capital value of their investment over many decades. An investment of $10,000 in Whitefield in 1970 would have been worth $1,683,3171 at 31st March 2015 (after the payment and provision of all costs and company tax across that period).

Whitefield’s operating structure is designed to provide a high level of independent, prudential control coupled with depth and experience of personnel and systems.

Our operating structure involves:

  • An independent Board of Directors with legal, audit and investment experience responsible for prudential oversight and review of all company activities;
  • An experienced investment team with a core of four senior investment executives having an average of 18 years experience per person in financial markets;
  • A well-resourced independent back office who administer over $35bn of wholesale investment funds;
  • A multi-person office administration team providing underlying office and systems infrastructure.

Whitefield has two primary classes of shares on issue, being Ordinary Shares and Convertible Resettable Preference Shares.

Whitefield aims to pay ordinary dividends in each year which are approximately equal to its net operating profit after tax, excluding realised gains on investments. Dividends will be franked to the extent that franking credits are available at the time of payment of the dividend. Whitefield’s dividends have been fully franked since 1988, shortly after the introduction of the dividend imputation system.

Whitefield pays income tax at the company tax rate on its net taxable investment income (consisting of dividends, distributions and interest net of expenses), and is entitled to the benefit of franking credits on tax it pays or on franked dividends it receives. Whitefield may in turn pay franked dividends to its own shareholders, effectively passing on the benefit of those franking credits to investors.

Whitefield seeks to provide investors with a cost efficient investment vehicle. To the extent possible Whitefield aims to maintain underlying expenses of operation at approximately 0.35% pa or less of investment assets. This percentage is called the management expense ratio.

All investment involves risk. An investment in Whitefield carries risks associated with investment in listed shares generally. Important risks and associated considerations for Whitefield shareholders include, but are not limited to, the following matters:

  1. Investment outcomes are inherently uncertain and unpredictable. Investment returns in future may be positive or negative. The value of Whitefield shares in future may be higher or lower than today. The returns of the Australian share market have historically been volatile and included both significant rises and falls.
  2. Investment returns in future years may differ materially from returns in prior years.
  3. Investment returns in future years may be influenced by a very wide variety of factors including, but not limited to, Australian and international economic and business conditions, government policy and regulation, taxation, interest rates, inflation and decisions made by the Company and its personnel in the course of business.
  4. The shares of Whitefield, and the price at which they may be bought or sold, may be influenced by a wide variety of factors including but not limited to returns of the company’s investment portfolio, costs associated with the company’s business, the volume of buyers and sellers of shares and the quantity of shares to be bought or sold. This may result in the market price of Whitefield’s shares being higher or lower than the value of the Company’s underlying assets.   

Investors may wish to seek the advice of a Professional Adviser when considering the risks associated with an investment in Whitefield. 

Corporate Governance Statement

Corporate Governance Statement (click here to view).

Board of Directors

The Board of Directors is responsible for the overall Corporate Governance of the company including strategic direction, establishing goals for management, monitoring the achievement of these goals and embedding a high level of ethical integrity throughout the company’s operations.

Details of the responsibilities and structure of the Board are included in the Board Charter (click here to view).

Audit Committee

Whitefield’s Audit Committee meets regularly to review and assess internal controls, financial reporting practices, risk management, the effectiveness of external audit and compliance with regulatory requirements. All members of the Committee must be non-executive directors.

Details of the responsibilities of the Audit Committee are included in the Audit Committee Charter (click here to view).

Risk Management

Whitefield operates in accordance with a formal risk management framework. Whitefield’s risk management framework seeks to identify and provide a level of control across all material risks faced by the Company. The Audit Committee plays a central role in the process of controlling and managing risk.

Details of the Company’s Risk Management Framework are included in the attached document (click here to view).

Remuneration Committee

Whitefield’s has a Remuneration Committee whose role is to review, assess and make recommendations as to the remuneration of Directors. The Committee seeks to ensure that remuneration is appropriate for the time commitment and responsibilities of the Board (click here to view).

Nomination Committee

Whitefield has a Nomination Committee which considers the size, composition, qualifications, experience and independence of the Board, and which is responsible for succession planning, candidate assessment and appointment (click here to view).

Continuous Disclosure & Shareholder Communications

The Board of Directors aims to ensure that the shareholders are informed of all major developments affecting the company's state of affairs.

Information is communicated to shareholders through:

  • Monthly Net Asset Backing Reports
  • Quarterly Reports
  • A Half-yearly Report
  • An Annual Report
  • Notices of Meetings
  • Other releases including Chairman’s Address to AGM

 

All reports and company releases are accessible on the ASX or via the ASX Releases menu on this website.
Shareholder’s may elect to receive correspondence via mail or email, and make make their communication preference by contacting the company’s Share Registry:

This email address is being protected from spambots. You need JavaScript enabled to view it.
www.computershare.com

Computershare Investor Services Pty Limited
Level 4, 60 Carrington Street
Sydney NSW 2000
Australia

Enquiries (within Australia) 1300 850 505
(outside Australia) +61 3 9415 4000
Facsimile +61 3 9473 2500

The Company has a  Disclosure Policy (click here to view)


Other Codes and Policies

Code of Conduct and Ethics Policy (click here to view).
Diversity Policy (click here to view).
Securities Dealing Policy (click here to view).

Share Registry contact details:

Computershare Investor Services Pty Ltd
Level 4, 60 Carrington Street
Sydney NSW 2000

Enquiries (within Australia) 1300 850 505
(outside Australia) +61 3 9415 4000
Facsimile +61 3 9473 2500

This email address is being protected from spambots. You need JavaScript enabled to view it.
www.computershare.com.au

Company contact details:

Level 22, MLC Centre
19 Martin Place
Sydney NSW 2000

GPO Box 473
Sydney NSW 2001

Phone: +61 2 8215 7900
Facsimile: +61 2 8215 7901

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