Remuneration Committee Report

Remuneration Report

The group is committed to creating a culture of high performance as well as attracting and retaining high calibre employees to assist us in achieving our strategy and providing acceptable shareholder returns.

Full Report PDF

Dear shareholder

On behalf of the board, I have pleasure in enclosing herewith the remuneration report for the group. This report consists of the background statement, remuneration policy and the implementation report for the financial year ended 31 December 2022. It also sets out payments made to non-executive directors, executive directors and prescribed officers during the year under review.


The committee acknowledges its responsibility for ensuring the integrity of this remuneration report and has spent a considerable amount of time to continue to ensure a balance between company needs and expectations of

executives, as well as the expectations of shareholders and all stakeholders.


An additional committee member, A Watson, was appointed to the committee on 29 November 2022. The members of the committee are independent non-executive directors as defined by King IV™.


The focus areas of the committee for the year under review is set out under the background statement together with the future focus areas. Please refer to page 94 in this regard.


The committee continues to monitor and review the remuneration policy to ensure fair, responsible and transparent remuneration while balancing positive outcomes in the short-, medium- and long-term.


The remuneration policy and implementation report will again be tabled at the AGM on 18 May 2023 where shareholders would be requested to cast a non-binding advisory vote on the policy and report.


RemCom is satisfied that it has fulfilled its roles and responsibilities in terms of its mandate and that the group’s remuneration policy has achieved its objectives for the year under review.


Appropriate governance structures exist at and below board level, to recognise and retain top talent and fairly reward employees.


The composition, number of meetings held and attendance at such meetings are shown on page 90.


On behalf of the Remuneration Committee

KDM Warburton

Remuneration Committee Chair

20 March 2023

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