The Board is committed to good corporate governance as a measure of assuring stakeholders that the company is being properly managed. The Board meets ordinarily four times in each financial year, and as often as required to deal with any other business that may arise. The directors are remunerated on the basis of the fixed monthly allowance applicable to all directors.
The duties and responsibilities of the directors are set out in the Articles, the Companies Act (No 61 of 1973), and other relevant legislation. The directors have unrestricted access to company information and management, and may, at the Company’s expense, seek external professional advice in the discharge of their duties.
The directors annually declare their interests in other companies and entities. The directors further declare any pecuniary and/or personal interest they may have in an agenda item before each meeting of the Board or its Committee.
Board Members are currently all independent of Management, and do not form part of the Executive Management of Epangelo Mining Company. The Articles of Association in clause 71 thereof , however, make provision for the appointment of a Managing Director from amongst the Directors. The Board is responsible for setting the strategic direction and performance yardstick for the Company.
The daily management of the company would be delegated to a Managing Director and the Executive Management team. Management’s performance would be monitored via effective and regular assessment based upon the strategies and budgets as set by the Board. The Executive Management Committee shall be headed by the Managing Director who is responsible for guiding, controlling and managing the daily activities of the company. The Executive Committee shall serve as the means by which information is communicated from the Board’s decisions to Epangelo Mining Company’s staff and stakeholders.