Investor Relations
Committees
The Board has established an Audit Committee, a Remuneration Committee, a Nomination Committee and a Safety Committee.
Audit Committee
The Audit Committee is chaired by Roger Williams, and its other members are Stephen Oke and Ian Watson.
The Audit committee will meet not less than four times a year and will have responsibility for, amongst other things, monitoring the integrity of the Company’s financial statements and reviewing its summary financial statements. It will oversee the Company’s relationship with its external auditors and review the effectiveness of the external audit process. The committee will give due consideration to laws and regulations, the provisions of the UK Corporate Governance Code and the requirements of the Listing Rules. It will also have responsibility for reviewing the effectiveness of the Company’s and the Group’s system of internal controls and risk management systems. The ultimate responsibility for reviewing and approving the interim and annual financial statements remains with the Board.
The Non-executive directors of the Company who have been appointed as the initial members of the Audit Committee are considered by the Board to have recent and relevant financial experience.
Remuneration Committee
The Remuneration Committee is chaired by Stephen Oke, and its other members are Roger Williams and Ian Watson.
The Remuneration Committee will meet not less than twice a year and has responsibility for making recommendations to the Board for the determination, within agreed terms of reference, of the remuneration of the Chairman and of specific remuneration packages for each of the Executive Directors and the members of the key management, including pension rights, and any compensation payments. The Remuneration Committee also ensures compliance with the UK Corporate Governance Code in this respect.
The Executive Directors determine the remuneration of the Non-executive directors other than the Chairman, including the members of the Remuneration Committee.
Nomination Committee
The Nomination Committee is chaired by Amre Youness, and its other members are Stephen Oke and Roger Williams.
The committee meets at least twice a year and has responsibility for making recommendations to the Board on the composition of the Board and its committees and on retirements and appointments of additional and replacement Directors and ensuring compliance with the UK Corporate Governance Code.
Safety, health, environment, quality and training Committee
The Safety, health, environment, quality and training Committee is chaired by Ian Watson and Stephen Oke.
The committee will meet at least twice a year and has responsibility for making recommendations to the Board to ensure a safe and healthy workplace is created and maintained for all employees.
Executive Committee
The executive functions of Shaft Sinkers (Pty) are carried out by the Executive Committee.
This is a committee of the Senior Management of the Group and comprises Alon Davidov, Chris Hall, Tomasz Pietrzak, Salmon van der Wath, Hein Jantzen and Sean Hirscowitz.
Model Code
The Company has adopted a code of securities dealings in relation to the Ordinary Shares, securities in group companies with stock exchange listings and other securities, to ensure compliance with the Model Code as published in the Listing Rules.
The code adopted will apply to the Directors and other relevant employees of the Company.
General Meetings
The Company is not required to hold shareholder meetings in the Isle of Man and, in the interests of Shareholders, intends to hold all shareholder meetings in London, United Kingdom, including all annual general meetings.