Other Governance Items
and Assertions
THIRD-PARTY MANAGEMENT AND RELATED PARTY TRANSACTIONS
No part of the company’s business was managed during the year by any third-party in which any director had an interest.
The company has a process in place whereby the directors and key management have confirmed that, to the best of their knowledge, the information disclosed in Tongaat Hulett Limited’s annual financial statements fairly represents their shareholding in the company, both beneficial and indirect, interest in share options of the company and the compensation earned from the company for the financial year. In addition, the directors and key management have confirmed that all interests have been declared.
INSIDER TRADING
No director, officer or employee may deal either directly or indirectly in the company’s shares on the basis of unpublished price-sensitive information regarding its business or affairs. In addition, no director, officer or employee may trade in the company’s shares during closed periods. Closed periods are from the end of the interim and annual reporting periods to the announcement of financial and operating results for the respective periods, and while the company is under a cautionary announcement.
GOING CONCERN ASSERTION
The directors confirm that they are satisfied that the company has adequate strategic, financial and operational resources to continue its business for the foreseeable future. The basis upon which this assessment is made is recorded at the time of approval of the annual financial statements. The Board continues to adopt the going concern basis for preparing the financial statements.
RELATIONSHIP WITH STAKEHOLDERS
The Board endorses the elements of Principle 16 of King IV™ that states that in the execution of its governance roles and responsibilities, the Board should adopt a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time. For more detail on the company’s engagement with its wide range of important stakeholders, and key focus areas during the reporting period, please refer to the sustainability section of this integrated report.
The CEO, CFO and the Investor Relations and Communications Executive interface regularly with institutional investors on key strategic themes and the performance of the company, through various presentations and scheduled meetings as per the company’s investor relations programme. The current programme includes management conducting roadshows in South Africa, and internationally, in addition to its participation in selected conferences. Through the company’s website, a wide range of information is available to all shareholders and other stakeholders, including the integrated annual report, information on investor relations, and updates of the company’s activities and its many initiatives to promote stakeholder value creation and sustainability.
Tongaat Hulett remains committed to principles of transparency, and copies of presentations given to the investment community are available on the company’s website here. The company encourages the attendance of shareholders at AGMs and welcomes fruitful discussions and questions arising from the agenda and any additional issues of interest or concern to the shareholders.
