Corporate Responsibility
Governance
We believe that corporate governance – how the board of directors oversees and governs our company – is essential to enhancing shareholder value.
- understand the oil and gas industry
- understand our royalty business
- promote an overall culture of transparency and ethical business conduct
- actively work together to foster our short and long-term success
Freehold’s Board
Board Independence
Freehold has an nine-member board, the majority of whom are independent directors. The Chairman of the board is an independent director, as are the directors who chair the Audit, Finance and Risk, Governance, Nominating and Compensation, and Reserves committees.
Board Mandate
The board of directors is committed to maintaining a high standard of governance. The Board has responsibility for the overall stewardship of Freehold and its controlled entities and discharges its responsibility by reviewing, discussing and approving Freehold’s strategic planning and organizational structure, and supervising management, including retention of the Manager, with a view to preserving and enhancing the underlying value of the Company.
Policies
Policies are in place to ensure that:
- Freehold has consistent standards and procedures for communication of both material and non-material information;
- Communication of material information to the investing public (whether positive or negative) is timely, factual and accurate, and is broadly disseminated in a non-selective manner in accordance with all applicable legal and regulatory guidelines; and
- The directors and officers of Freehold and the employees of the Manager have been given guidelines regarding trading in securities of Freehold, including mandatory blackout periods.
Policies
- Code of Business Conduct and Conflict of Interest Policy
- Disclosure Policy and Disclosure Committee Mandate
- Insider Trading Policy
- Whistleblower Policy
- Environment, Health & Safety Policy
- Majority Voting Policy
- Board Diversity and Renewal Policy
- Environmental, Social and Governance Policy
- External Supplier Policy and Code of Conduct
- Modern Slavery Report
Constating documents
Governance and Ethics
The Governance, Nominating and Compensation (“GNC”) Committee establishes the company’s governance principles and practices and reviews corporate policies, including our Code of Conduct and Conflict of Interest Policy. Rife employees and consultants are required to adhere to Freehold’s Code of Conduct and are expected to conduct business with integrity and high ethical standards. The GNC Committee monitors the performance of the Manager on an ongoing basis.
Relationship with CN Pension Trust Funds
The Manager of Freehold is a wholly-owned subsidiary of Rife Resources Ltd., which is 100% owned by the CN Pension Trust Funds (the pension funds for employees of the Canadian National Railway Company). The CN Pension Trust Funds holds approximately 16% of Freehold’s common shares.
Social
Community Investment
Freehold targets multi-year financial support partnerships with organizations that align with employees’ interests and benefit the community as a whole. We take pride in doubling any charitable donations made by an employee (to an annual maximum of one thousand dollars) and providing financial support for charitable organizations our employees volunteer with to help democratize decisions pertaining to charitable giving and to help further support our engaged workforce.
To help facilitate this financial support, Freehold has established a Charitable Giving Committee with the objective of supporting: (a) organizations that are working to address the spectrum of society’s most fundamental needs: shelter, food, education, and health; (b) the communities in which we do business; and (c) the charitable causes our employees care about.
In 2023 Freehold donated approximately $280,000 as well as contributed employee volunteer hours to support organizations that address the needs of families in the communities in which we do business. Our efforts were focused on community and social services that promote healthy communities and improve opportunities for all. Our long-standing partnerships with philanthropic organizations and support for local programs are an essential component of our culture of engaging and giving back to our local communities.
Contact the Board
Freehold Royalties Ltd.
Attention: Chair of the Board
1000, 517 – 10th Avenue SW
Calgary, AB T2R 0A8
Toll Free: 1-888-257-1873
Local: 1-403-221-0802
Email: boardofdirectors@freeholdroyalties.com
Ethics Hotline
Toll Free: 1-855-484-2273
Email: usecare@ca.gt.com
www.grantthorntonCARE.ca