CORPORATE GOVERNANCE

CAVICO seeks to subscribe to the values of good corporate governance as set out in the Code of Corporate Practices and Conduct embodied in the “King III” report.

GOVERNANCE OBJECTIVES

CAVICO adheres to best practice as defined by the South African Companies Act 61 of 1973 and Companies Act 71 of 2008, regarding Corporate Governance.

AUDIT COMMITTEE

The CAVICO Audit Committee consists of members of the Board of Directors of CAVICO and has a minimum of two members. The Audit Committee has as members, one CAVICO Non-Executive Director and one Executive Director.

REMUNERATION COMMITTEE

A non-executive Director of CAVICO chairs the Remuneration Committee of CAVICO and each CAVICO Subsidiary.