SECRETARIAT

sEcrETariaT report

sEcrETariaT rEPOrT

Corporate governance involves a set of relationships between SEIFSA’s management, its board, its member Associations and other relevant stakeholders. By promoting the integrity, accountability and transparency of the organisation, adequate corporate governance practices are particularly essential to achieving and maintaining high levels of public trust and confidence in the operations systems and processes, which constitute the premise to its effective functioning.

The Company Secretariat is committed to assisting the Board of Directors in upholding corporate governance standards and principles with the aim of maximising the long-term value creation for the member Associations and relevant stakeholders. This is ensured through awareness of the corporate governance rules and principles as laid out in the Companies Act, 71 of 2008 and the King III report on Corporate Governance and regular monitoring by the by the Company Secretariat.

In the year under review, there were four Board meetings held on the following dates: • August 2015 • November 2015 • February 2016 • May 2016

Dr Martyn Davies: Chief Executive Officer, Frontier Advisory, delivering his speech at the at the MEIndaba 2016

Re ort

sEcrETariaT

the attendance Register of the directors at the board Meetings was as follows:

director november 2015 February 2016 May 2016 August 2016 no. of Meetings attended

Angela Dick Bob Stone Neil Penson

Present Present Present Hannes van der Walt Absent Leon Viljoen Kaizer Nyatsumba Lucio Trentini Absent Present Present Present Present Absent Present Present Present Present Present Present Present Present Present Present Present Absent Present Present Present Present Present Present 3 4 3 3 3 4 4

Ross Williams Present Present Present Present 4

Mayleen Kyster Not nominated as yet Present Absent Absent 1

Bernard Ashlin Not nominated as yet Present Absent Absent

1 Ben Gerrard Present Present Present Absent 3 Oupa Komane Not nominated as yet Not nominated as yet Present Present 2 Ian Delport Not nominated as yet Present Absent Absent 1 Paolo Trinchero Not nominated as yet Present Present Present 3

The attendance Register of the Directors at the Remuneration Committee was as follows:

Remuneration Committee meetings did not take place since there were no salary increases effected. The attendance Register of the Directors at the Audit Committee was as follows:

director october 2015 April 2016 no. of Meetings attended

B Garrad A Ngapo Hannes Van Der Walt Not yet appointed Present Present Present

1 Resigned 2 Present 2

Bridgette Mokoetle

Company Secretary