commitment statement

The group subscribes to the highest level of corporate governance and is committed to the implementation of effective structures, policies and practices that improve corporate governance and create sustainable value for the benefit of our shareholders and other stakeholders. Our corporate governance department combines selected specialist disciplines to assist the directors and management in embedding governance principles and practices in every aspect of our business operations.

The company continually strives to enhance its governance practices by an ongoing review of current and emerging trends in corporate governance and by benchmarking our systems against local and international best practice. Application of the principles and compliance with the recommendations contained in the Code of Corporate Practices and Conduct as set out in the second King Report are included in this report.

The board is of the opinion that the group currently complies with all significant requirements in the Code of Corporate Practices and Conduct as set out in the second King Report and the Listings Requirements of the JSE Limited.

Governance goes significantly beyond compliance and the board is of the view that the implementation of governance practices has resulted in a more effective and sustainable business.