The board acknowledges that it is responsible for ensuring that the principles of sound corporate governance are observed and incorporated into the leadership of the group. The directors, collectively and individually, acknowledge their responsibilities in terms of the South African Companies Act, No 71 of 2008 as amended (the Companies Act) and the JSE Listings Requirements.
The board's support of corporate governance principles, across all areas of its operations, helps the group to run its business in an efficient, ethical and sustainable way. It continuously reassesses its principles and implements policies against King IV and corporate governance best practice, and makes changes as and when appropriate.
ADvTECH has a unitary board structure that oversees the management and control structure, which, in turn, directs the organisation in its entirety. The board retains full and effective control over the group and monitors executive management's implementation of plans and strategies.
The board has delegated authority to run the day-to-day affairs of the group to the CEO and Exco. Exco facilitates the effective control of all the group's operational activities, acting as a decision making body and a medium of communication and co-ordination between the various business units, group companies and the board.