The Company has established a governance framework designed to:

• Clarify the respective roles and responsibilities of Board members and senior executives in order to facilitate Board and senior executives’ accountability to both the Company and its shareholders.
• Enable the Board to provide strategic guidance for the Company and effective oversight of management.
• Ensure a balance of authority so that no single individual has unfettered powers.

Details of the respective roles of the Chairman, the Chief Executive Officer and individual Directors, together with the collective responsibilities of the Board and management are covered in the Company's Charters and Policies.< Policy - Board and Management>

The oversight of the performance of management’s role practically occurs on a continuous basis and is conducted by all directors. The Company has, however, established a formal process for the evaluation of the performance of senior executives as part of an annual remuneration review. This process is managed by the Remuneration Committee of the Board of Directors and involves the annual assessment of individual’s performance relative to pre agreed performance targets.