The Board of Directors is responsible for overall strategy, governance and performance of Universal Coal.
The Board guides and monitors the business and affairs of the Company on behalf of the shareholders by whom they are elected and to whom they are accountable. To ensure the Board is well equipped to discharge its responsibilities it has established guidelines for the nomination and selection of directors and for its own sustainable operations.
Composition of the Board
The composition of the Board is determined in accordance with the following principles and guidelines:
- The board should comprise directors with an appropriate range of qualifications and expertise and
- The board should meet at least quarterly and follow meeting guidelines set down to ensure all directors are made aware of, and have available all necessary information, to participate in an informed discussion of all agenda items
The Directors in office at the date of this statement are:
|John Hopkins OAM||Independant Non-executive Chairman|
|Tony Weber||Chief Executive Officer and Executive Director|
|Shammy Luvhengo||Executive Director|
|Hendri Bonsma||Independent Non-executive Director|
|David Twist||Non-executive Director|
|Carlo Baravalle||Non-executive Director|
As it acts on behalf of the shareholders and is accountable to the shareholders, the Board seeks to accurately identify the expectations of the shareholders, as well as other regulatory and ethical expectations and obligations. In addition, the Board is responsible for identifying areas of significant risk and ensuring arrangements are in place to adequately manage those risks.
Communication to shareholders
The Board aims to ensure that the shareholders are informed of all information necessary to assess the performance of the Directors. Information is communicated to the shareholders through various channels including:
- Annual Report which is distributed to all shareholders
- Half-yearly report distributed to shareholders so requesting and
- Annual General Meeting and other meetings so called to obtain shareholder approval for Board action as appropriate
Directors’ share dealing
The Company operates a share dealing code for Directors on the basis set out in the Listing Rules.