Report of the investment committee

Role and key functions

The investment committee is a formal committee of the board that makes recommendations on the strategic direction of the company. It reviews and advises on capital and other applications in terms of the company’s limits of authority for recommendation to the board.

The committee functions in terms of defined terms of reference, approved by the board in 2016 and reviewed annually, as well as an approved detailed annual work plan.

Composition and committee meetings

The committee comprises three members, the CEO as chairman, the chairman of the board and one non-executive director, Pieter Uys. More details of these directors are given in the directorate and executive committee section. The chairman may co-opt ad-hoc members for a meeting, based on the capital applications to be considered.

Meetings are scheduled as required as per the terms of reference. Attendance of committee members is listed in the directorate and executive committee section of this integrated annual report.

Fees paid to the committee members are reflected in the report of the remuneration committee and the proposed fees for 2017 are detailed in the notice of annual general meeting.

Key activities

In terms of its mandate, matters considered by the investment committee in 2016 included applications to submit tenders, the increase of current investments, placement of new investments and the restructuring of investments.

On behalf of the investment committee

Alan Olivier

Chairman

17 February 2017


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