This corporate governance report sets out the key governance principles and practices of the Group, one of which is fair, honest and understandable disclosure to both our internal and external stakeholders.

The Group is fully committed to the principles of effective corporate governance and application of the highest ethical standards in the conduct of its business. We support the view that good corporate governance is essentially about leadership and for this reason we conduct the enterprise with integrity and in compliance with South African best practice, whilst taking cognisance of the value systems of the countries in which we operate.

ENDORSMENT OF THE KING CODE
The board of directors (the board) is committed to and subscribes to the values of good corporate governance and the conduct recommended in the King Report for Governance in South Africa and in its Code of Governance Principles (collectively King II). The board endorses the principles of integrity and accountability advocated by King II.