Ethical Performance

MANAGEMENT FRAMEWORKS

At Murray & Roberts we acknowledge that the “tone at the top” sets the foundation for an ethical culture within an organisation. A company builds an ethical culture in formal and informal ways. Formally, this entails articulating and aligning behaviour to the Group’s redefined purpose, values and vision; compiling an ethics, risk and opportunity profile; developing and communicating a Statement of Business Principles (commonly referred to as a code of ethics); and integrating ethical standards into the Group’s business activities and reporting on and disclosing its ethics performance. Informally, an ethical culture is determined by the manner in which Board members and Group executives conduct themselves in carrying out the business of the Group.

We undertake to conduct our business within the framework set by the regulatory requirements applicable to our industry, as well as our respective operating companies and geographies. We strive to conduct our business in compliance with both the letter and the spirit of the law, our internal policies, and our recently released Statement of Business Principles. To facilitate regulatory compliance the Group has developed a compliance plan and framework that includes the Group regulatory universe (covering non-statutory and statutory requirements) and risk management plans for the high risk regulations in the South African market, which include:

• Prevention and Combating of Corrupt Activities Act No. 12 of 2004
• Competition Act No. 89 of 1998
• Companies Act No. 71 of 2008
• Occupational Health and Safety Act No. 85 of 1993
• Mine Health and Safety Act No. 29 of 1996.

Each operating company is required to develop risk management plans that identify and implement the controls required to comply with all applicable laws and regulations. Monitoring procedures are also in place to assess and ensure compliance.

Directors are bound by a Board-mandated Code of Conduct that contains standards of accepted behaviour.

For a complete report on our Ethical Performance please visit the online annual integrated report.