Highlights

  • Hydrix says it substantially complies with the ASX Corporate Governance Principles (Fourth Edition).
  • Two of four directors are independent; Gavin Coote serves as Executive Chairman.
  • Female representation stood at 24.5% of employees at 30 June 2026.
  • Grant Thornton remains external auditor; no internal audit function is in place.

Hydrix Limited (ASX:HYD) has released its Corporate Governance Statement for the financial year ended 30 June 2026, current as at 26 October 2026 and approved by the Board. The accompanying Appendix 4G was signed by Company Secretary Alyn Tai on 27 October 2026. The company stated that it substantially complies with the ASX Corporate Governance Principles and Recommendations (Fourth Edition), to the extent appropriate to its size and operations.

Board Composition and Committees

The Hydrix Board has four directors: Executive Chairman Gavin Coote, Julie King, Paul Wright and Paul Lewis. Mr Wright and Mr Lewis are considered independent. Ms King is not considered independent due to her substantial shareholding.

The Nomination and Remuneration Committee has three members and is chaired by Ms King. The Audit and Risk Committee is chaired by Mr Wright, with Mr Lewis and Ms King as members. Hydrix does not have an internal audit function, and Grant Thornton serves as external auditor.

ASX Recommendations Not Followed

Hydrix disclosed that it does not follow some ASX recommendations. Only two of its four directors are independent, so the Board does not have an independent majority. Mr Coote has served as Executive Chairman since 1 January 2020, and the Chair is therefore not independent.

The Board cited Mr Coote's leadership experience and said it will continue to assess the need for an independent Non-Executive Chair. The company also noted that the Nomination and Remuneration Committee is chaired by a director who is not independent.

Diversity and Policies

At 30 June 2026, Hydrix had 53 employees, 13 of whom were female, or 24.5%. This was below the company's objective of 28% female employees by the end of FY26. One female director sits on the Board, and the Company Secretary is female.

The Board reviewed its skills matrix and stated that it currently has an appropriate mix of skills and diversity. Key policies, including the Board Charter, Code of Conduct, Whistleblower Policy and Anti-Bribery and Corruption Policy, are available on the company website.

Key Takeaways

  • Hydrix reports substantial compliance with the ASX governance principles, with some disclosed exceptions.
  • Board independence and the Executive Chair role are the main areas where recommendations are not followed.
  • Female employee representation of 24.5% fell short of the 28% target for FY26.
  • The Board says it will keep reviewing the need for an independent Chair.