Statement Of Values And Business Ethics

Introduction

This short summary is obviously not meant to address every instance in which we are called upon to observe and practice sound business ethics. However, it is meant to remind us that if we each strive to live and abide by basic ethical principles in the day-to-day conduct of our business, we will foster an environment of mutual trust and respect, and continue to build a global reputation for integrity, which is the foundation of the company.

Newform Energy Ltd (NFE) believes that trusting, long-term relationships are built through honesty, openness and fair play. All aspects of our business must be based on the highest ethical standards. Since our employees are key to our success and we're all part of the team, we all must take responsibility for our own actions and conduct. In addition, since managers are responsible for directing the actions of others and for setting an example for other employees, they should be familiar with this Statement of Values and Business Ethics and how it applies to them and to those under their supervision. It should be remembered that no one has authority to require or influence another employee to violate this code of conduct, and any attempt to do so may result in immediate disciplinary action, up to and including termination of employment.

Since good judgment is a fundamental basis of everything NFE does as a company, understanding our ethical and legal parameters can only strengthen that judgment. Since we are aspire to be a market leading company, we have a responsibility to follow applicable laws and regulations in all locations where we do business. Instances where the law is not explicit require using good judgment, adhering to the spirit of the law, and following the principles of honesty, integrity, and common sense. Also, on occasions where local country law is in conflict with the NFE’s Statement of Values and Business Ethics, local country law will apply.

If you have any questions about how these principles affect you or if you observe what you believe to be inappropriate, unethical, or unlawful conditions at any time, please contact a director, unless otherwise noted.

Work Environment

NFE respects and highly values its employee’s. Accordingly, the company has an unwavering ethical commitment toward promoting a workplace that is respectful of personal differences and free of discrimination and harassment. This principle applies in our hiring and interviewing process as well as all aspects of our work environment. By providing a respectful, creative, and positive atmosphere where employees can be successful and achieve, NFE is capable of attracting, motivating, and retaining the best people available.

NFE is committed to providing a work environment free of discrimination and harassment based on age, ancestry, color, marital status, medical condition, mental disability, physical disability, national origin, race, religion, sex, sexual orientation or veteran status.

It is the company's intention to provide an atmosphere free of harassment that creates tension and/or an intimidating, offensive, or hostile work environment. Conduct that causes such conditions violates NFE's code of business conduct. Abusive, insulting, or offensive actions of any kind, including unwelcome requests for sexual favors, sexual advances, and conversation containing sexual comments, are considered harassment that disrupts or interferes with work performance or that creates an intimidating, hostile, or otherwise offensive environment. Any employee experiencing such harassment is encouraged to report the incident to their manager, next-level manager, Director, Managing Director, without fear of reprisal. All incidents will be immediately investigated and the appropriate action taken.

Conduct And Behaviour Standards

All employees are expected to contribute to the success of NFE by performing their jobs as required and conducting themselves in a professional manner consistent with the company's business philosophy, values and standards of business conduct. Employee honesty and integrity are essential to ethical business practices. Employees are required to prepare all reports, including expense reports, time cards, and sales reports accurately and truthfully. Additionally, it is essential to avoid making misrepresentations or dishonest statements to anyone inside or outside the company.

The following list includes, but is not limited to, unacceptable conduct that is considered detrimental to the company's best interests and may result in immediate disciplinary action, up to and including termination of employment:

Violation of the Employee Nondisclosure
Falsification of facts or company records
Unethical, immoral, indecent or illegal conduct
Harassment (which includes, but is not limited to, sexual harassment, physical fighting, or other abusive conduct creating an intimidating, hostile or offensive work environment)
Discrimination against any employee or applicant due to age, ancestry, color, marital status, medical condition, mental disability, physical disability, national origin, race, religion, sex, sexual orientation, or veteran status.
Deliberate destruction of company or other employee's property
Deliberate work stoppage or slowdown
Theft, misappropriation, or unauthorized personal use of company property or property of others
Insubordination/refusal to follow legitimate direction from a manager or deliberately undermining a manager's authority
Bringing weapons, illegal substances onto company property or being in possession, or in the case of illegal substances, under the influence, of same
Any action which seriously impacts the company business or image in a negative or destructive way
Any conduct that poses a serious threat to the health or safety of employees or company operations
Unsatisfactory attendance or abuse of sick leave
Gambling during work hours or on company property
Consumption or being under the influence of alcoholic beverages on company premises
Misuse of NFE property, including the company's equipment, supplies, e-mail, intranet, and computer and voicemail systems can constitute unethical conduct. These tools and resources are intended to assist employees in conducting legitimate company business, and any other use of such property is discouraged.
Misrepresentation, concealment, falsification or destruction of any documents or other information relating to the company's business, operations or financial condition that may be required to be reported or disclosed, or used to prepare documents required to be reported or disclosed, to government body or pursuant to any other applicable governmental law, rule or regulation.
Any other activity or conduct that could cause an individual, the company or any of its officers or directors to violate any applicable governmental law, rule or regulation relating to full, fair, accurate, timely and understandable disclosure of information required to be disclosed to any third person.

Conflicts Of Interest

A conflict of interest is generally any activity that is, or appears to be, opposed to the best business interests of NFE. Conflicts of interest include, but are not limited to, the following examples:

Employees shall not directly or indirectly work or consult for a competitor or engage in activity that is competitive with NFE business interests (including working for a NFE vendor). It is never acceptable for an employee to utilise NFE customer lists or contacts to market their own or third-party goods and services, even if they are not competing with NFE products or services.
Employees shall avoid having a material financial interest in any company where that interest might conflict with Sybase business concerns.
Employees are permitted to give or accept gifts and/or favored treatment only within the parameters stated below. However bribes and kickbacks are in all circumstances absolutely not allowed by NFE. Receipt or provision of money is never allowed (regardless of the amount). Following are guidelines to use in determining what is and is not considered appropriate by NFE in this area:
Personal gifts or favored treatment that are expressly or tacitly conditional to obtaining business in exchange for the gift or favored treatment are never permitted. No management personnel or employees of NFE may take or give bribes or kickbacks from or to contractors, subcontractors, consultants, vendors, suppliers, competitors or customers.
Provided they are 1) consistent with NFE business practices, 2) they do not violate applicable laws, and 3) public disclosure would not embarrass NFE, the following gifts or favored treatment may be accepted or given by NFE employees: — Reasonable meals or entertainment as long as they meet the above criteria?
— Lodging or airfare as long as they meet the above criteria, have been approved by a Director, coordinated by NFE personnel, and are consistent with NFE's travel policies?— Speaking fees or other fees received by a NFE employee or paid to a third party by NFE as long as they meet the above criteria and are approved by a company Director - Gifts of equipment, goods, services, gratuities (other than money), benefits, vacation, discounts and the like must meet the above criteria AND must be approved as follows:?
If value is equal to or less than £100 per third party per calendar year - Need approval of employee's manager.
If value is greater than £100 but equal to or less than £200 per third party per calendar year - Need approval of a Director.
If value is greater than £400 per third party per calendar year - Need approval of MD.
NOTE: Gifts and promotional items distributed by the NFE Marketing Department for delivery to customers, vendors and other third parties may be given without the approvals required above, regardless of the value of the gift or promotional item, provided that purchase requisitions for these gifts and promotional items are approved per the NFE Management Approval Process
NFE may receive and evaluate appropriate complimentary products and services. It also may make a gift of equipment to a company or an organization, provided the gift is authorized by a NFE Director, given openly with full knowledge by the company or organization, and is consistent with applicable law.
In rare circumstances, local custom in some countries may call for the exchange of gifts having more than nominal value as part of the business relationship. In such cases, gifts may be given or received only if they comply with written guidelines approved by a Company Director. Such gifts may only be accepted on behalf of NFE (not an individual). In all cases, the exchange of gifts must be conducted so there is no appearance of impropriety.
Employees shall generally avoid conducting NFE business with family members or other significant relationships, or taking any business action that benefits a family member or significant relationship. For example, if a NFE employee has purchasing responsibility for NFE, they should avoid dealing with any vendor that employs an immediate family member or significant relationship. Similarly, employees should also be sensitive to the potential compromise of NFE confidential information and the appearance of divided loyalty that can occur when family members, or others who are close to the employee, work for NFE competitors.
NFE expects employees to devote full attention to their work, and therefore discourages other employment outside NFE. No NFE employee, whether full time or part time, may engage in outside work or services for an actual or potential customer, competitor or vendor under any circumstances. An employee may engage in outside activities at companies not prohibited by the foregoing, with written approval from a Director.
While NFE is concerned with maintaining its competitive edge in the industry, only authorized NFE employees should conduct market intelligence with respect to other companies, and only by straightforward legal means. Additionally, the reputation of NFE products and services is built on merit, not on the disparagement of competitors or their products.

Communication With Media

Employees who are contacted by a member of the media are not authorized to provide information regarding NFE or its business without prior approval.

Protecting Company Information

Trade secrets, technology, ideas, customer lists, unannounced financial data, marketing and pricing strategies, and business plans are, among others, NFE's most valuable business assets and protecting their confidential and proprietary nature is the ethical duty of every NFE employee. Employees must consider whether information they handle or share might give NFE a competitive advantage or could damage NFE if its disclosure were out of the company's control. If so, it would be considered NFE confidential. When in doubt, contact a Director. In addition, no employee must ever attempt to obtain or use another company's proprietary information for NFE's benefit or otherwise in violation of law or any applicable agreement.

Information Security

Information is vital to NFE continuing success. Inadequate protection or misuse of NFE's information assets could give the company's competition an unfair advantage, diminish the quality of our products and services, increase the risk of litigation, or otherwise harm the company. All NFE employees share a responsibility to our customers, shareholders, and each other to protect NFE, customer, and vendor information assets from unauthorised access, use, modification, destruction, theft, or disclosure and must treat such assets in accordance with any information handling policies issued by NFE.

Laws And Dealing With The Government

Ethical conduct requires the observance of the laws of all countries where NFE conducts business. Violation of governing laws subjects NFE to significant risk that could lead to fines, penalties and damaged reputation. Although laws vary, the following general guidelines should be followed when dealing with any governmental agency: NEVER discuss or offer employment, or business opportunities to contracting officers, or governmental officials who may influence an official act, or decision affecting NFE, or its business.

NEVER offer or give gifts or favours to anyone in connection with any government contracting activity, including "kickbacks" to any customer who is a prime contractor with a government entity.

NEVER offer or give bribes or other questionable or irregular payments (whether in the form of cash, goods or other property) if you know, or have reason to believe, that such payments will be used to influence foreign officials or their representatives to facilitate official acts or decisions involving NFE. This rule applies even if such payments are considered customary or legal in the countries in question.

Trade Regulations

Trade laws and regulations in the U.K. and elsewhere around the world are intended to foster ethical competition in the marketplace and to limit activities that restrain trade. Accordingly, employees must never discuss or enter into any arrangement or understanding with a competitor regarding the pricing of products, favoring or withholding business from particular customers or vendors, or any other activity that may have antitrust or anti-competition implications. Any questions regarding trade or competition laws or how they might affect the way employees or the company conduct business should be referred to a director for advice from the company Lawyer.

Above: Our MD Anthony Morgan and Kevin McCloud at Grand Designs Green Heroes Awards.