RISK AND
SUSTAINABILITY
ASPECTS AT BOARD
LEVEL Going concern
The sustainability of the Group over the long term remains the
most important aspect and the Board therefore has a long-term
view in that respect. The strategy rests on four pillars and is
challenged continuously. The Board has also started the process
of extending the strategy beyond 2020. Senwes share trading is done electronically, within the framework
of the applicable legislative measures. Senwes provides and
maintains an independent and active over-the-counter share
trading mechanism (OTC-mechanism).
To ensure sustainability and the existence of the Group as a
going concern, the Board and Management co-operate within
the parameters of a disciplined and specific internal control
environment, IT-control framework and compliance framework.
Compliance with legislation
The Board accepts total responsibility for compliance with
all applicable legislation and regulatory requirements. This is
reported via the internal Compliance Committee and then to
the Risk Committee as well as the Audit Committee. Focused
attention is being afforded to compliance aspects throughout the
Company and a combined assurance model is being developed
between Internal Audit, Risk Management and Legislative
Compliance.
IT-control
The Board ensures the active management of the IT-control
framework by a team of IT-members of Management as an
integral part of the risk management framework reporting to,
amongst others, the IT-Steering Committee. The strategy and
performance of Senwes are aligned with and dependent upon
these fully incorporated and integrated structures and systems.
Extensive business and IT-disaster recovery processes have
been established. External audit annually focuses on the IT-
environment as part of the year-end audit.
All facts and assumptions are placed on record by the Board in
order to determine whether the business will continue as a going
concern in the new financial year.
Investor relations
The market price of the Senwes share is determined by trading
on the OTC, which provides a sound price determination
mechanism.
All shareholders have electronic access to information regarding
their shares and can exercise their voting powers on that platform.
SHAREHOLDER
INFORMATION AND
MATTERS
As indicated previously the shareholder structure changed during
this year and both of the main shareholder blocks are committed
to the Group with a long-term investor’s view for growth and the
unlocking of synergies, while assisting with local consolidation in
the agricultural sector.
Shareholders’ diary
Financial year-end 30 April 2014
Announcement of results in media 02 July 2014
Submission of proxies 27 August 2014 by 09:00
Annual general meeting 29 August 2014 at 09:00
Refer to www.senwes.co.za for the
comprehensive Corporate Governance
Report and shareholder distribution
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