ESG
Governance
The board is the principal decision maker, supported by various committees and executive management. The audit and risk committee perform an annual review to ensure that the group applies the principles and recommended practices of King IV and that it complies with the highest standards of corporate governance.
- The board is constituted and functions in accordance to the company’s MoI, in line with King IV and according to the provision made in the formal charter. The board provides ethical and effective leadership in accordance with good governance practices. The board members conduct their duties by collectively and individually applying integrity, competence, responsibility, accountability, fairness and transparency. It also provides strategic direction which results in value creation.
- It is made up of eleven directors, two of whom are executive directors (the managing director and the finance director) and seven who are independent non-executive directors (one being the chairman).
- In line with the decentralised nature of the group’s operations, subsidiary and divisional boards manage the day-to-day affairs within their areas of responsibility.
Ms B Mathews (Chair)
Mr B Mawasha
Ms A Sithebe
Permanent invites:
Mr S Douwenga
Mr A Jogia
Mr A Mahado (KPMG)
Mr CMD Flemming (Chairman)
Ms TN Mgoduso
Mr PH Giliam
Ms B Mathews
Mr U Reddy (Metair)
Ms J Smith (Supreme Springs)
Mr D Seker (Mutlu Aku)
Mr S Konar (Smiths Manufacturing)
Permanent invites:
Mr A Jogia
Ms M Mail
Mr R Lane
Mr B Mawasha (chairman)
Mr P Giliam
Ms NL Mkhondo
Mr S Douwenga
Permanent invites:
Mr R Haffejee
Mr A Jogia
Mr MH Muell (Chairperson)
Mr CMD Flemming
Ms A Sithebe
Mr R Haffejee
Permanent invites:
Mr MC Mahlanu (FNB)
Ms B Erol (Mutlu)
MH Muell
Mr S Sithole
Permanent invites:
Mr R Haffejee
Mr S Douwenga
Ms T Marcus
Social and ethics plan and framework
The Metair board is responsible and accountable for directing and monitoring our social and ethics management performance within a structured framework.
The core principle of the framework is custodianship and the core values are unity, harmony, equality, respect for human dignity and doing what is right, fair, reasonable, lawful and just.
Insider trading
No employee (directors and officers included) may trade directly or indirectly in the shares of the company during a closed period or a prohibited period. Closed periods are imposed from 31 December and 30 June until the publication of the respective half yearly results. Where appropriate, a prohibited period is also imposed on certain employees during periods when they are in possession of undisclosed price-sensitive information.
Broad-based black economic empowerment
| Company | BBBEE Status | |
|---|---|---|
| 2022 | 2023 | |
| ATE | Non-Compliant | Non-Compliant |
| FNB | Level 4 | Level 3 |
| Hesto | Level 2 | Level 2 |
| Lumotech | Level 2 | Level 2 |
| Automould | Level 4 | Level 4 |
| Smiths Manufacturing | Level 2 | Level 1 |
| Supreme Spring | Level 2 | Level 3 |
| Unitrade745 | Level 3 | Level 2 |
Company Secretary
Ms SM Vermaak has filled the position of company secretary since 2001. Ms Vermaak is not a director of the company and the board is therefore satisfied that an arm’s-length relationship has been maintained between the board and the company secretary, in accordance with the recommended practice of King IV.
Sponsor
One Capital Sponsor Services (Pty) Limited acts as sponsor to the company in compliance with the Listings Requirements of the JSE Limited.
