The Board delegates duties to governance committees that provide an in-depth focus on specific areas, assisting the Board
to discharge its responsibilities. Each governance committee is chaired by an independent non-executive director and certain
executives are required to attend committee meetings by invitation. External auditors attend Audit Committee meetings.
The Board approves the terms of reference for each governance committee and ensures adherence to corporate governance
practices, applicable legislation including the Companies Act, No. 71 of 2008 and, where appropriate, international best practice.
- All governance committees reviewed King IV™’s recommended practices and outcomes, and amended their terms of reference accordingly to ensure that relevant governance compliance processes and procedures are appropriately embedded in our business model. The new Companies Act Amendment Bill is being reviewed as well as the appropriate Board oversight of delegated matters.
- The Board and its governance committees fully complied with their terms of reference. This was confirmed by the Company Secretary and the Chair of each governance committee