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Corporate Governance

Asa Resource Group Plc recognises the importance of sound corporate governance and the guidelines set out in the Principles of Good Corporate Governance and Code of Best Practice (the "Combined Code"). Whilst AIM companies are not obliged to comply with the Combined Code, the Board does intend to comply with the Combined Code so far as is appropriate having regard to the size and nature of the various companies making up Asa Resource Group Plc. The Board will take such measures so far as practicable to comply with the Combined Code.

The Board holds regular board meetings serveral times in a year and is responsible for formulating, reviewing and approving Asa's strategy, planning, budgets, major items of capital expenditure, acquisitions, risk, human resource and environmental management.

In Asa's dealings with partners across Africa, it helps to develop their management and corporate governance standards. As well as Asa's own African shareholder base, the introduction of local shareholders at a project level has been a significant component of developing and maintaining the social mandate across Asa's portfolio.

Asa Resource Group has also established, Audit, Nomination & Remuneration and Corporate Social Responsibility & Safety, Health & Environment Committees, details of which are provided below:

Audit Committee

  • Olivier Barbeau (Chair)
  • Brian Ching Fung Hung
  • Dr Scott Morrison
  • Niall Patrick Henry

The Audit Committee meets at least twice a year and is responsible for ensuring that the financial performance of the Company is properly reported on and monitored. It liaises with the auditors and reviews the reports from the auditors relating to the accounts and internal control systems.

Nomination & Remuneration Committee

  • Brian Ching Fung Hung (Chair)
  • Dr Scott Morrison
  • Yat Hoi Ning

The role of the Nomination Committee is to recommend any new appointment of directors to the Board, based on the merits of the candidates and the relevance of their background and experience. It periodically reviews the structure, size and composition of the Board.

The Committee reviews the performance of the Executive Directors and sets the scale and structure of their remuneration on the basis of their service agreements with due regard to the interests of the Shareholders and the performance of the Company. The Remuneration Committee also makes recommendations to the Board concerning employee incentives, including the allocation of share issues to employees. Directors of the Company are not permitted to participate in discussions or decisions of the committee concerning their own remuneration.

Corporate Social Responsibility & Safety, Health & Environment Committee (CSR & SHEC)

  • David Murangari (Chair)
  • Yim Chiu Kwan
  • Toindepi Murangari (CEO of Fedra Rebecca)
  • Batirai Manhando (Managing Director of BNC)

Asa’s social and environmental responsibilities are driven by its commitment to ensure there are synergies among sustainable mining, sustainable communities and sustainable socio-economic investments.

We have a zero harm policy and we shall continue to focus on safety in the workplace as this is an unending commitment.

The CSR & SHEC is a newly formed Committee which will be reinforcing the Company’s commitment to its employees and the environment in which they are employed. The Committee will seek to ensure procedures and processes are in place to safeguard our employees in the workplace and the communities in which the Company operates.

The Committee will investigate Asa’s impact on the environment and will be seeking to recommend ways of benefitting the areas in which it operates.