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Board meetings and attendance
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The board of directors of ABIL met seven times during the year and details of the directors’ attendance at the board and
committee meetings are reflected in the table below:
Name Board GAC GRCMC GRTC DAC ESC
Number of meetings held 7 4 4 4 4 3 3
Independent non-executive
directors
Mutle Mogase 7 1 n/a n/a 4 4 3
Nic Adams 6 4 4 1 n/a 4 n/a
Sam Sithole 5 4 1 n/a n/a 4 n/a
Ntombi Langa-Royds 7 n/a n/a 4 1 4 3 1
Mojanku Gumbi 6 n/a 3 4 4 1 n/a
Johnny Symmonds 5 3 3 n/a n/a n/a
Jack Koolen 7 n/a 3 n/a n/a 2
Executive directors
Gordon Schachat 4 6 n/a n/a n/a 3 2 1 2
Leon Kirkinis 7 2 2 3 2 3 2 4 2 3 2
Nithia Nalliah 7 4 2 4 2 n/a n/a n/a
Toni Fourie 7 2 2 3 2 3 2 n/a 2 2
Tami Sokutu 7 4 2 4 2 n/a n/a 2 2
1 Denotes chairman/chairperson.
2 Denotes standing attendee/invitee.
3 ESC was established in November 2011, therefore only three meetings were held in the year.
4 Gordon Schachat resigned with effect from 30 September 2012.
The board adheres to the principles of King III which are tabulated below and the details regarding the manner of adherence to
these principles is elaborated upon in the board charter available under the corporate governance section at www.abil.co.za.
King III principle ABIL
The board is the focal point for and custodian of corporate governance �
Strategy, risk, performance and sustainability are inseparable �
Directors act in the best interests of the company �
The chairman of the board is an independent non-executive director �
Framework for the delegation of authority has been established �
The board comprises a balance of power, with a majority of non-executive
directors who are independent
�
Directors are appointed through a formal process �
Formal induction and ongoing training of directors is conducted �
The board is assisted by a competent, suitably qualified and experienced
company secretary
�
Regular performance evaluations of the board, its committees and the
individual directors
�
Appointment of well structured committees and oversight of key functions �
An agreed governance framework between the group and its subsidiary
boards is in place
�
Directors and executives are fairly and responsibly remunerated1 Partially
applied
Remuneration of directors and senior executives is disclosed �
The company’s remuneration policy is approved by its shareholders �
1 Non-executive directors earn fixed fees.
African Bank Investments Limited | Integrated Report for the year ended 30 September 2012 87