About Implats

Corporate governance

Introduction

 

Corporate governance is integral to the success and sustainability of Implats, and the board is therefore committed to ensuring that its policies and practices support and reflect this ethos throughout the Group. The board is also committed to the highest levels of integrity and ethics in the conduct of its business.

In order to ensure that the Company remains at the forefront of best corporate governance practices, compliance with the King III Code on Corporate Governance (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 the King III Report and with the JSE Listings Requirements during the financial year ended 30 June 2013 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.

During the year under review, additional enhancements and refinements were made to the policies, procedures and strategy of the Company, to further align the Company with the principles of King III and the requirements of the new Companies Act.

These included:

  • Revisions to the board charter and terms and reference of the various committees
  • The approval of a “trading in shares and securities” policy
  • The adoption of the Company’s memorandum of incorporation, as approved by shareholders at the AGM held in October 2012
  • The approval by shareholders of a new “Long-term Incentive Scheme” which is strongly aligned with the principles of King III, particularly in terms of performance-related incentives.

The board continues to recognise the importance of effective governance in creating long-term value for all its stakeholders. This understanding and recognition continues to guide the board in its vision to lead the Company with practices based on transparency, accountability, integrity and ethical leadership.

 

Implats Board Charter

Download the complete document (PDF - 239KB)

 

 

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