The board maintains effective control through its governance framework, delegating specific functions to committees with clearly defined mandates and decision-making rights. This allows the board to focus on reserved matters while ensuring thorough attention to delegated issues. Each board committee has a formal charter that is reviewed at least annually. Formal annual work plans are aligned with the relevant charters and guide the meeting agendas to ensure that each committee is able to monitor practically whether it is discharging its delegated duties and responsibilities. Committee Chairpersons are responsible for the committees’ effective functioning.
AAudit and risk committee (ARC)
Chairperson
Badal Patel
Members
Frans Britz, Leon Cronje, Bridgitte Mathews
The ARC executes all statutory duties and responsibilities in terms of section 94 of the South African Companies Act and paragraph 5.7(h) of the JSE Listings Requirements.
Attendance
All members attended both meetings
Report
Included in the Annual Financial Statements
here.
RRemuneration and nominations committee (RNC)
Chairperson
Johan Holtzhausen
Members
Elias Masilela, Shiellah Moakofi
The RNC has been established to provide the board with independent and objective oversight on crucial remuneration and nomination matters within the group. The committee members ensure the group's reward and remuneration policies are aligned to the recommendations of King IV™, the group's value creation strategy, and the principles of fairness and competitiveness, as far as practical.
Attendance
All members attended both meetings
SSocial and ethics committee (SEC)
Chairperson
Bridgitte Mathews
Members
Frans Britz, Johan Holtzhausen, Blackie Marole
The SEC was established in line with the South African Companies Act, to promote stakeholders' interests in the company's operations. The SEC plays a crucial role in fostering an ethical culture within the group and overseeing the implementation of ethical practices ensuring compliance with the South African Companies Act and various policies aimed at ingraining ethical values, addressing conflicts of interest, and safeguarding whistle-blowers.
Attendance
All members attended both meetings
