Governance and Remuneration: Statement of Directors’ Responsibilities

The Directors are responsible for preparing the Annual Report, including the financial statements, in accordance with applicable law and regulation.

The UK Companies Act requires the Directors to prepare financial statements for each financial year. The Directors prepared the Group and Company financial statements in accordance with International Financial Reporting Standards (“IFRS”), as adopted by the European Union. The Directors should only approve the financial statements if they are satisfied that they give a true and fair view of the state of affairs of the Group and Company and of the profit or loss of the Group and Company for the reporting period. In preparing the financial statements, the Directors are required to:

  • select suitable accounting policies and apply them consistently;
  • state whether applicable IFRS have been followed, subject to any material departures disclosed and explained in the financial statements;
  • make judgements and accounting estimates that are reasonable and prudent; and
  • prepare the financial statements on the going-concern basis, unless it is inappropriate to presume that the Group and Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group’s and Company’s transactions and disclose with reasonable accuracy, at any time, the financial position of the Group and Company and enable them to ensure that the financial statements and the Directors’ Remuneration Report comply with the UK Companies Act and, in respect of the Group’s consolidated financial statements, Article 4 of the IAS Regulation.

The Directors are responsible for safeguarding the assets of the Group and Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Directors are responsible for the maintenance and integrity of the financial and associated corporate information published on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Directors consider that the Annual Report and Financial Statements, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the Group and Company’s performance, business model and strategy.

Each of the Directors, whose names and functions are listed on the Board of Directors page, confirm that to the best of their knowledge:

  • the Group and Company financial statements, which were prepared in accordance with IFRS, as adopted by the European Union, give a true and fair view of the assets, liabilities, financial position and profit of the Group; and
  • the Strategic Report includes a fair review of the development and performance of the business and the position of the Group and the Company, together with a description of the principal risks and uncertainties that it faces.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the directors confirms that:

  • to the best of their knowledge and belief, there is no relevant audit information of which the Company’s auditors are unaware; and
  • they have taken all reasonable steps to ascertain any relevant audit information and to establish that the Company’s auditors are aware of that information.

For and on behalf of the Board.

DP Meintjes
Chief Executive Officer

23 May 2018

PJ Myburgh
Chief Financial Officer

23 May 2018