Risk and Sustainability Committee

In accordance with King III principles, the board approved the establishment of a Risk and Sustainability Committee in July 2010 – in terms of its terms of reference this committee’s mandate is to focus on the group’s risk management efforts and to give consideration to sustainability issues which relate to the long-term sustainability of the group.

The Chairman of the Audit Committee is a member of this committee to ensure that all issues affecting both committees are considered. The committee, which convened for the first time in July 2010 and met again in November 2010, is chaired by independent non-executive director, Danie Vlok. The committee further consists of three non-executive directors, one of whom is independent, as well as the Chairman and two executive directors, namely the Group  Finance Director and the group Commercial Director.