Our approach / ethics

Governance and Sustainability

The Santova Group is fully committed to the promotion of good corporate governance and the application of the Code of Governance Principles in King III. Every effort is being made on a continuous basis to institute “best practice” wherever possible to ensure that all aspects of the Group’s activities are conducted in accordance with the principles of integrity, accountability, fairness and transparency.

GOVERNANCE, ETHICS AND COMPLIANCE STRUCTURES

The Group’s vision, purpose, culture and values form the foundation of the business and set the moral and ethical tone of the Group. Due to the expansion of the Group in recent years there has been a new drive to ensure that the entire Group, including the foreign subsidiaries, commit to the vision and purpose and also embrace and live the culture and values of the Group.

In light of this, the Group’s vision, purpose, culture and value statements were revised and updated at a recent three-day strategy meeting held in South Africa and attended by all Board members and senior management from all the Groups’ local and foreign operating subsidiaries.

Following this meeting members of the Group Executive Committee undertook a road show to all local and foreign offices to ensure that every member of staff was aware of and committed to the newly stated vision, purpose, culture and values.

The Board receives assurance on the Group’s compliance with applicable legislation, regulations, codes and standards from reports from the Chairmen of the various Board committees and compliance is a regular item on the agenda of each of these Board committee meetings.

The Board of Directors satisfies itself on an annual basis that the Group has, in all material respects, applied the principles of King III and the Code and complied with the Listings Requirements of the JSE Limited and all other applicable legislation.

APPLICATION OF KING III

The Group utilises the Governance Assessment Instrument (“GAI”) of the Institute of Directors to assess its level of compliance with the recommendations of the King III achieved an overall score of AAA.

Please see the following reports in this respect: