The Board recognises the importance of sound corporate governance and endorses and monitors compliance with the Quoted Companies Alliance Corporate Governance Guidelines for Smaller Quoted Companies and the King III Report on Corporate Governance in South Africa.
Board of Directors
The Investment Committee, comprising three directors, considers all acquisitions, sales of investments and capital expenditures. Appropriate investments or disposals are then presented to the Board for consideration.
The Remuneration Committee, comprising three directors, assesses and recommends to the Board the remuneration of the management of the Group companies as well as the participation in the share incentive schemes for all employees.
The Nomination Committee, comprising three directors, assists the Board in identifying qualified individuals to become Board members and recommends on the composition of the Board.
The Risk Committee, comprising four directors, oversees the development and implementation of the Group’s risk management policy, and assumes overall responsibility for the Group’s system of internal controls.
The Audit Committee, comprising four non-executive directors, meets at least four times a year and is responsible for ensuring that the financial performance of the Group is properly reported on and monitored, including reviewing the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies. The Audit Committee considers the appointment and fees of the external auditors and discusses the scope of the audit and its findings.