The Company is committed to the highest ethical standards of business conduct. The directors, management, employees, employees of outsourced functions and suppliers to Wesizwe Platinum Limited are expected to comply with the principles and act in terms of the Company’s Code of Ethics Code). It is the responsibility of the Board of Directors to monitor whether the standards defined in the Code are being met and properly enforced.
The Board operates under the leadership of its Chairman, Ms Dawn Mokhobo, and is accountable and responsible for the performance and affairs of the Company. It is based on a unitary structure and is supported by four sub-committees.
Our Board Charter outlines how we will apply corporate governance practices in the company according to the Companies Act No 71 of 2008 (as amended), the JSE Listings Requirements, the King IV Report on Corporate Governance for South Africa.
The key main pillars of our Board Charter are:
· Roles and responsibilities of the Board;
· Matters reserved for the Board;
· Board procedure;
Pillar 1: Roles and responsibilities of the Board
- Act as the focal point for and custodian of corporate governance, by managing its relationship with management, the shareholders and other stakeholders of the Company.
- Give strategic direction to the company, both short and long term.
- Creating and delivering sustainable shareholder value.
- Actively engaging management in setting, approving and overseeing execution of company strategy and related policies.
- Ensuring that management maintains internal controls for assurance of effective and efficient operations, compliance with laws and regulations; and does this within an ethical environment.
Pillar 2: Matters reserved for the Board
Objectives, strategy, short and medium-term plans and performance monitoring against agreed criteria.
Approval of annual financial statements, interim reports and related financial matters.
Code of ethics.
The appointments to and removals from the board (including the chairman, chief executive officer, and executive and non-executive directors).
Delegations of authority to the chief executive officer.
Board committee mandates, authorities and membership.
Significant company policies.
Our corporate governance philosophy and ongoing governance compliance.
Compliance with laws and regulations.
Risk management and internal control.
Board and individual director performance evaluation.
Pillar 3: Board procedures
- Director conduct, accountability and responsibility.
- Board annual work plan.
Pillar 4: Committees
Assists the Board to oversee the technical aspects of the design and development of Bakubung Platinum Mine, oversight of production targets including monitoring of SHE performance.
Audit and Risk Committee
Accountable for accounting policies and the annual financial statements and reports, oversees the quality and integrity of the company’s integrated reporting, is the primary forum for engagement with internal and external audit, and monitors the company’s risk management and compliance environment.
Assists the board with remuneration and incentive arrangements, policy and disclosures (including stakeholder engagement related thereto), executive appointments and succession.
Social and Ethics Committee
Assists the Board to build a sustainable ethical corporate culture and corporate citizenship. It oversees compliance with relevant statutes and regulatory framework such as the Mining Charter, United Nations Global Compact Principles and Organisation for Economic Co- Operation and Development.
King IV Application Register
Wesizwe’s Board of Directors, executives and employees strive to maintain and enhance governance standards through constant review of current and emerging trends, both nationally and internationally. The Company has reassessed its corporate governance framework and processes to ensure compliance with King IV which has become the keystone of governance principles in the South African corporate environment.
To view our application of King IV, refer to our website and the latest annual Integrated Report.
For full information on corporate governance standards and procedures please read the latest Annual Report.
|2018 King IV Application Register||[174 KB]|
|2018 BBBEE Compliance Certificate||[346 KB]|
|Minutes of Annual General Meeting||[429 KB]|
|Minutes of Annual General Meeting Continue||[242 KB]|
|Wesizwe Platinum Limited Memorandum of Incorporation||[3.3 MB]|
|Wesizwe Code of Ethics||[900 KB]|
|Wesizwe Code of Conduct||[883 KB]|
|Promotion of Access to Information||[2MB]|