CMON Limited reported that all remedial actions proposed by the independent IC Review Expert have been implemented and are now operational.
The company introduced eight governance policies on 01 October 2025 covering disclosure, finance, IT, HR, sales, procurement (global operations and services), and third-party due diligence. Each policy defines communication protocols, escalation procedures, management approval levels, record retention rules, and disciplinary measures.
Compliance measures have been reinforced through: • Circulation of the new policies to staff on 19 December 2025. • Board-level governance training delivered by external legal advisers on 16 January 2026, followed by operational training for management and key staff on 30 March 2026. • A formal “4-eyes” sign-off mechanism for all regulatory filings under the new Disclosure, Announcements & Regulatory Filings Governance Policy. Sample testing of the 19 October 2025 placing announcement confirmed adherence to the policy.
Board meeting minute procedures have been tightened: draft minutes are now circulated to directors for written confirmation before final archiving, and sample reviews showed full compliance.
The Third-Party Due Diligence & Counterparty Review Policy requires background checks on potential investors or counterparties seeking to acquire more than 5 % of the company, with clear responsibility allocation and documentation standards.
To address prior delays in financial reporting, CMON filled two finance vacancies (a Senior Accountant on 18 August 2025 and a Finance Manager on 01 September 2025) and instituted contingency plans for future staffing gaps. A Financial Statement Closing & Reporting Checklist, effective 01 January 2026, details eight control points from close planning to documentation retention.
The Board confirmed satisfaction with the remedial measures and will continue to monitor their effectiveness, noting that further announcements will be released if additional updates are necessary.
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