Audit committee

The audit committee is chaired by Wayne Bulpitt, with all the other Directors as members. The audit committee meets no less than twice a year and, if required, meetings can also be attended by the Auditors.

The audit committee is responsible for reviewing the half-year and annual financial statements before their submission to the Board. In addition, the audit committee is specifically charged under its terms of reference to advise the Board on the terms and scope of the appointment of the Auditors, including their remuneration, independence, objectivity and reviewing with the Auditors the results and effectiveness of the audit, and in ensuring that the Company’s annual report and financial statements are fair, balanced and understandable.

Risk committee

The Board has adopted and implemented a risk policy with regard to the Company’s business activities and formally considers this policy at least four times per year. The purpose of the risk committee is to seek to ensure that the Company takes a measured approach to its business activities, taking into account factors including, but not limited to, the risks associated with jurisdictions in which it operates or has interests (e.g. political and economic risks, currency risks and sector risks).