Corporate governance
Principle 4 (continued)
Principle 5 Risk Governance & Internal Control
Remuneration of Directors Theunderlyingphilosophy is to set remunerationat anappro- priate level to attract, retain, rewardandmotivatehigh-calibre personnel, recognising their contribution to the achievement of the Company’s objectives and performance. Renumeration of Bonuses for the Year ended 31 December 2020
Risk Management
RiskManagement refers to theprocedures usedby theGroup to track and mitigate its exposure to risks.
Although the process of risk management is the Board’s responsibility, the management of the Group implements and regularly controls the risk management framework. Internal control and riskmanagement procedures are regu- larly reviewed tomitigate these risks. The RiskManagement of the Company is further discussed in a report found on pages 66-71. Internal Control The Board is responsible for the internal control and risk management system of the Group. It is the management’s responsibility to continuallymaintain adequate and effective internal control procedures with the aim of reducing risks and safeguarding the assets of the Group. They also have the duty to ensure that the processes and systems used are operating satisfactorily with respect to performance. The Group continually evaluates existing processes and has implemented new Standard Operating Procedures (SOPs) in the last financial year.
Rs
Executive Directors
8,435, 598
Non-Executive Directors
500 000
Independent Director
250 000
TheDirectors’ remuneration is to be reviewed regularlywith regard to the above-mentioned philosophy.
Directors’ Interests in the Shares of the Company
The Directors’ interests in the shares of the Company as at 31 December 2020 were as follows:
No. of Shares % Shareholding
Kian Jhuboo
540,052
33.33
Ezra Jhuboo
540,052
33.33
Jayeen Jhuboo
540,052
33.33
79
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