CORPORATE Policies

PERFORMANCE EVALUATION POLICY

The Remuneration and Nomination Committee (excluding the subject of evaluation where they are a member of the Remuneration and Nomination Committee) will arrange an annual performance evaluation of senior executives of the Company.  To assist in this process an independent adviser may be used.


This evaluation will be based on specific criteria, including the business performance of the Company and its subsidiaries, whether strategic objectives are being achieved and the development of management and personnel.


Each senior executive's performance will be assessed against his or her designated roles and responsibilities.

A full copy of the policy can be downloaded by clicking on the attached link: Performance Evaluation Policy

CONTINUOUS DISCLOSURE POLICY

We committed to continuous disclosure of material information as a means of promoting transparency and investor confidence. The practices of our Company are fully compliant with the Listing Rules, including in particular those regarding continuous disclosure.

Once listed, we will be a ‘disclosing entity’ under the Corporations Act.  As such, we will be subject to the continuous disclosure requirements of the Listing Rules and the Corporations Act.  Subject to the exceptions contained in the Listing Rules, we will be required to disclose to ASX any information concerning our Company that is not generally available and which, if it were available, a reasonable person would expect to have a material effect on the price or value of our securities. In addition, we will provide ASX with any information ASX requests to correct or prevent a false market in our Company’s securities.

All information provided to ASX for release to the market will be posted to our website at www.ikwezimining.com after ASX confirms an announcement has been made.

A full copy of the policy can be downloaded by clicking on the attached link: Continuous Disclosure Policy

RISK MANAGEMENT POLICY

We are committed to the identification, monitoring and management of risks  associated with our business activities and has established policies in relation to the implementation of practical and effective control systems.

The Board has delegated to the Risk Committee responsibility for identifying and overseeing major risk areas and that systems are in place to manage them, and report to the Board as and when appropriate.

A full copy of the policy can be downloaded by clicking on the attached link: Risk Management Policy

 

SECURITIES TRADING POLICY

Our Directors, officers, employees and contractors will be in possession of information relating to our Group and, possibly, other companies. From time to time, some of this information may be classified as “inside information”. Under Australian corporations legislation, insider trading laws operate to prohibit people in possession of non public price sensitive information from dealing in securities or passing on the information to other people who may deal in securities.

We have adopted a securities trading policy that explains the prohibition on insider trading and also limits trading by Restricted Persons (including Directors and employees) during specific “black out periods” or trading windows such as the day of release of our Company’s full and half year results announcements or the day of our Annual General Meeting.  Any such a Restricted Person must notify the Managing Director (or if the Restricted Person is the Managing Director, the Board through the Company Secretary), or his or her delegate, of their intention to trade in Company securities in advance, of their intention to trade in Company Securities and satisfy various requirements before trading in the securities.   Once a Restricted Person has completed a trade in the Company's securities, the Managing Director (or if the Restricted Person notifying is the Managing Director, the Company Secretary), or his or her delegate, must be advised that the trade has been completed and in the case of Directors, provided with sufficient information to enable the Company to comply with the requirements to notify a change of interests to ASX.

A full copy of the policy can be downloaded by clicking on the attached link: Securities Trading Policy

 

SHAREHOLDER COMMUNICATIONS POLICY

The Company respects the rights of its shareholders and to facilitate the effective exercise of those rights the Company is committed to:

  • communicating effectively with shareholders through releases to the market via ASX, information mailed to shareholders and the general meetings of the Company;
  • giving shareholders ready access to balanced and understandable information about the Company and corporate proposals;
  • encouraging shareholders to participate in general meetings of the Company; and
  • requesting the external auditor to attend the annual general meeting and be available to answer shareholder questions about the conduct of the audit and the preparation and content of the auditor's report.

A full copy of the policy can be downloaded by clicking on the attached link: Shareholder Communications Policy

 

DIVERSITY POLICY

The Company recognises that a talented and diverse workforce is a key competitive advantage and that an important contributor to the Company's success is the quality, diversity and skills of its people. 

The Board does not consider that at this stage it is appropriate for the Company to implement a diversity policy consistent with the ASX Corporate Governance Principles and Recommendations as it is already required to comply with the diversity requirements under the Broad Based Socio-Economic Empowerment Charter, September 2010 (Mining Charter), published and implemented by the South African Department of Mineral Resources. 

The Mining Charter aims at facilitating participation of historically disadvantaged South Africans (HDSA’s) in the mining and minerals industry by providing specific targets that must be met by 2014 in order to effect complete transformation and promote sustainable development and growth of the industry.  HDSA’s are defined as “any person, category of persons or community, disadvantaged by unfair discrimination” on the basis of race, gender or disability and includes females generally as well as Black, Indian, Chinese and Coloured people.

Amongst other things, under the Mining Charter, in furtherance of employment equity targets, a holder of a mining right must reach 40% HDSA representation at all levels of management and core skills by no later than 2014.

A full copy of the policy can be downloaded by clicking on the attached link: Diversity Policy

 

DEFINITION OF INDEPENDENCE

The Definition of Independence provides details on what is defined as an independent Director and various applicable material thresholds.

A full copy of the Definition of Independence can be downloaded by clicking on the attached link: Definition of Independence