The Board comprises eight (8) members - six (6) of whom are non-Executive, among which there are two (2) Independent Non-Executive. One of the non-Executive Directors chairs the Board. The Board Chairman is not in any of the committees. The statutory Audit Committee is chaired by an independent shareholder.

The Company maintains a commitment to relentlessly seeking absolute transparency and disclosure to its shareholders and other stakeholders in all its dealings in line with the high standards of corporate governance including effectively monitoring the Management.

To this end, both the Board and the Management have individually signed a Code of Business Conduct and Ethics. In addition, each Director is required to declare his/her interest in dealings with the Company at every meeting.

The Board consists of persons of mixed skills with experience in different fields of human endeavour and meets at least once quarterly or when the need arises to review performance and set targets.

The Board Audit Committee is responsible for overseeing the Company’s financial reporting process. The Committee also reviews and approves the annual internal audit plan, vetting of the financial statements, and monitors Management’s responsiveness to the findings and recommendations of the internal auditor, amongst other functions.

The Board Audit Committee comprises 4 (four) Non-Executive Directors; the Committee is chaired by an Independent Non-Executive Director.

The Board Audit Committee is responsible for overseeing the Company’s financial reporting process. The Committee also reviews and approves the annual internal audit plan, vetting of the financial statements, and monitors Management’s responsiveness to the findings and recommendations of the internal auditor, amongst other functions.

The Committee oversees the nomination and appointment of Board members, Board performance evaluation process and succession plan for the Board and Board remuneration process. It also considers staff matters in general and appointments and discipline of Top Management Staff.

The Committee is to determine the medium and long term strategies for the Company principal risks and ensure that they are adequately assessed and effectively managed, evaluate the adequacy of the Company’s internal controlpolicy and ensure that policies and strategies for managing risks are in place.