The Board recognise the importance of sound corporate governance commensurate with the size and nature of the Company and the interests of its Shareholders.
This information has been disclosed pursuant to Rule 26 of the AIM Rules for Companies. Last updated: 28 September 2018
Board of Directors
The Board is responsible for formulation and approval of the strategic direction objectives and goals of the Company and guiding management in the implementation of this strategy for the benefit of shareholders.
The Board comprises Non-Executive Chairman Matthew King, Chief Executive Officer David Archer, Non-Executive Directors Dale Ferguson (Technical Director), James Leahy, Maqbool Ali Sultan and Imad Kamal Abdul Redha Sultan with alternate Directors Manohar Pundalik Shenoy (alternate Director for Maqbool Ali Sultan) and Murtadha Ahmed Sultan (alternate for Imad Kamal Abdul Redha Sultan). The Board believes the Directors provide an appropriate mix to conduct the Company’s business.
- • Audit Committee: consisting of Matthew King (Committee Chairman), James Leahy and Manohar Shenoy
• Remuneration Committee: consisting of Matthew King (Committee Chairman), James Leahy and Manohar Shenoy
• AIM Rule Compliance Committee: consisting of Matthew King (Committee Chairman) and David Archer
No additional remuneration is paid for participation on these committees.
Additional sub-committees of the Board may be formed from time to time for specific purposes and third parties may be invited to join the sub-committees, as ex officio members, where their particular expertise is considered desirable.
Anti-Bribery and Corruption Policy
It is the Company's policy to conduct business in an honest way, and without the use of corrupt practices or acts of bribery to obtain an unfair advantage in line with the UK Bribery Act 2010. We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all our business dealings and relationships wherever we operate and implementing and enforcing effective systems to counter bribery.
Bribery is defined as the offering, promising or giving a bribe or financial or other advantage; requesting, agreeing to receive or accepting a bribe or financial or other advantage; or soliciting of an advantage as an inducement for an action which is illegal or a breach of trust. It is also an offence to bribe a foreign public official to obtain or retain business or an advantage in the conduct of business.
Bribery and corruption are punishable for individuals by up to ten years' imprisonment and if we are found to have taken part in corruption we could face an unlimited fine, be excluded from tendering for public contracts and face damage to our reputation. We therefore take our legal responsibilities very seriously.
This policy applies to all individuals working at all levels and grades, including senior managers, officers, directors, employees (whether permanent, fixed-term or temporary), consultants, contractors, trainees, seconded staff, homeworkers, casual workers and agency staff, volunteers, interns, agents, sponsors, or any other person associated with us, or any of our subsidiaries or their employees, wherever located.
This policy extends to all of the Company's business dealings and transactions in all countries in which it operates.
Health, Safety, Environment and Social Responsibility
Savannah Resources is committed to providing a safe working environment for all its employees and to responsibly managing all of the environmental interactions of its business.
To meet these objectives, Savannah has developed a Health, Safety, Environment, and Community (“HSEC”) policy that it applies to all company activities in Portugal, Mozambique and Oman.
Savannah is committed to the implementation of a high standard of HSEC management and delivery from exploration through production to eventual mine closure. Our field staff are accountable for delivery of the HSEC policy and our Directors, Officers and Employees are responsible and accountable for Savannah’s HSEC performance.
The following specific commitments are made as regards HSEC matters:
Health & Safety Responsibility
• We provide all employees with health and safety training as required and applicable
• We take all necessary measures to minimise workplace injuries to our employees
• We have established management and advisory programmes for the prevention of communicable diseases of our employees
• We comply with all applicable legislation, regulations, and appropriate industry standards
• We assess the positive and negative effects of our activities, from exploration through production to eventual closure
• We support local policies and procedures that minimize, or eliminate, negative effects of our activities on the natural environment and communities
• We monitor our use of natural resources and especially the use of energy, water and land resources
Community and Social Responsibility
• We work to understand what is important to the communities in which we operate and we adopt communication, consultation and disclosure procedures that consider all stakeholders
• We work to establish sustainable development relationships in the social, government and business communities where we operate
• We promote high standards in all matters relating to health, safety, environment and the community throughout all stages of the mining cycle
• We endeavour to promote the principles and practices of sustainable development wherever we have a business footprint, be it early stage exploration or advanced project development