About Implats

Corporate governance



The Implats board remains cognisant of and committed to the highest level of corporate governance and compliance.

This commitment forms the basis of the board’s intention to provide effective leadership to the Company, which leadership role includes guiding the strategic direction and development of the Implats Group.

The board fully embraces the principle of ethical leadership in setting and implementing the strategy of the Company, guided by the principles of the King III Code on Corporate Governance (King III), the Companies Act, 2008, the JSE Listings Requirements and all other applicable laws, standards and codes.

In addition, the board takes full responsibility for the management, direction and performance of the Company by exercising independent judgement on all issues reserved for its review and approval while taking cognisance of the needs of all stakeholders. The role and functions of the board are formally and comprehensively documented in a board charter which, among other things, defines the rights, obligations, responsibilities and powers of the board. The board functions as a unit and through its sub-committees and Exco. A formal delegation of authority (approval framework), which further defines the powers and authority of the board and those of its sub-committees, is in place.

King III

In order to ensure that the Company remains at the forefront of best corporate governance practices, compliance with King III and the Companies Act remains high on the board's agenda. The board has satisfied itself with the extent of the Company's compliance with King III and with the JSE Listings Requirements during the financial year ended 30 June 2014 and a table setting out how the Group has applied the principles of King III is contained on the Company's website, www.implats.co.za. The table also highlights any exceptions with the application of King III.