2008 Finansiële Jaar - overbergagri

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Oudit- en Risikokomitee 2007 en 2008 G OG G G OG G 20.6 6.8 9.10 6.12 11.2 27.2 2007 2007 2007 2007 2007 2008 D de Kock (V) X X X X X X DG de Kock X X X X X X HP Marais X X X X X X Verhandeling van aandele Aandeleverhandeling word ooreenkomstig die Maatskappy se Statuut bestuur en word deur ’n interne verhandelingsproses hanteer, wat deurlopend aan ’n interne oudit onderwerp word. ’n Geslote periode vir verhandeling van aandele deur Direkteure en Bestuur word van tyd tot tyd ingestel, gegrond op die beginsel van meerdere kennis van die Maatskappy se prestasie of potensiële prestasie wat die waarde en/of prys van aandele mag beïnvloed. Aandeleverhandeling gedurende die jaar onder oorsig van Direksie- en Hoofbestuurslede is soos volg: Audit and Risk Committee 2007 and 2008 S U S S U S 20.6 6.8 9.10 6.12 11.2 27.2 2007 2007 2007 2007 2007 2008 D de Kock (C) X X X X X X DG de Kock X X X X X X HP Marais X X X X X X Share trading Share trading is managed in accordance with the Company’s Articles and operated through an internal trading process, which is continually subjected to an internal audit. A closed period for the trading of shares by Directors and Management is introduced from time to time, based on the principle of additional knowledge of the Company’s performance or potential performance that may influence the value and/or price of shares. The trading of shares by Directors and Senior Management during the year under review is as follows: Direkteur/Hoofbestuurslede Aantal aandele gekoop Director/Senior Manager Number of shares bought D de Kock 72 JP Viljoen 1,164 MJ Roux 1,898 J v/d M Rossouw 2,000 Blydskap Trust (J van Deventer) 2,541 Geen aandele is deur Direkteure of Hoofbestuurslede verkoop nie. Interne Beheer en Risikobestuur Die Direksie is verantwoordelik vir die identifisering en bestuur van risiko’s. Binne die risikobestuurraamwerk is die wesenlike risiko’s geïdentifiseer en Bestuur doen gereeld verslag aan die Direksie en die Oudit- en Risikokomitee hieromtrent. Die doelwitte van die risikoraamwerk, waarbinne risikobestuur toegepas word, is die volgende: 1. Om aan die Direksie die versekering en gerusstelling te gee dat wesenlike risiko’s deurlopend geïdentifiseer word; 2. Dat aanvaarbare risikovlakke bepaal word; 3. Dat die risiko’s, waar dit redelik moontlik is, verminder word tot hierdie aanvaarbare vlakke; 4. Dat, waar dit nie redelikerwys moontlik is om risiko’s te verminder nie, daardie risiko’s wel deurlopend gemonitor word; en 5. Om te verseker dat die identifisering van wesenlike risiko’s deel vorm van Bestuur en werknemers se normale daaglikse verantwoordelikhede. D de Kock 72 JP Viljoen 1,164 MJ Roux 1,898 J v/d M Rossouw 2,000 Blydskap Trust (J van Deventer) 2,541 No shares were sold by Directors or Senior Management. Internal Control and Risk Management The Board is responsible for identifying and managing risks. The material risks have been identified within a risk management framework and Management regularly report to the Board and Audit and Risk Committee about this. The objectives of the risk framework, within which risk management is applied, are the following: 1. Providing the Board with the assurance that material risks are identified on a continuous basis; 2. Determining acceptable levels of risk; 3. Reducing the risks, where possible, to these acceptable levels; 4. Where it is not reasonably possible to reduce risks, the continuous monitoring of those risks; and 5. Ensuring that the identification of material risks forms part of the normal daily responsibilities of Management and employees. Every year the Group’s assets are sufficiently insured against abnormal disasters as well as material risks. CAM MOTORS 15
Daar word jaarliks toegesien dat die Groep se bates voldoende verseker is teen abnormale rampe sowel as wesenlike risiko’s. ’n Interne Ouditfunksie, opgedra aan Boshoff Visser, Bredasdorp, bestaan binne die Groep wat primêr gefokus is op die ondersoek van interne beheerstelsels en die bestuur en beheer van geïdentifiseerde risiko’s. Die Interne Ouditeur rapporteer direk aan die Oudit- en Risikokomitee aangaande sy werksaamhede. Die beginsels van verantwoordelikheid en toerekenbaarheid word voortdurend beklemtoon, toegepas en ondersteun deur interne beheer en kontrole binne die Groep. In die lig van ’n onlangse bedrog voorval by die filiaalmaatskappy, CAM Motors, word opnuut hernude fokus op die nakoming en uitvoering van interne beheerstelsels geplaas. Die lopende saak-grondslag is met die opstel van die finansiële state toegepas en, gegrond op voorspellings en beskikbare kontanthulpbronne, het die Direksie geen rede om te glo dat die Groep in die afsienbare toekoms nie ’n lopende saak sal wees nie. Die lewensvatbaarheid en volhoubaarheid van die Groep word deur die finansiële state ondersteun. Sosiale verantwoordelikheid Overberg Agri is deeglik bewus van sy sosiale verantwoordelikheid teenoor die omgewing, gemeenskap en werknemers en is verbind tot die volhoubare groei, ontwikkeling en beskerming van die omgewing waarbinne die Groep funksioneer. Werknemers is aktief betrokke binne die gemeenskappe waarbinne die Groep bedryf word. Die Groep beskik oor ’n formele donasiebeleid waarvolgens fokus op die gemeenskappe waarbinne die Groep funksioneer, geplaas word. Transformasie en Swart Ekonomiese Bemagtiging Die Direksie en Bestuur van Overberg Agri erken en ondersteun die beginsels van Swart Ekonomiese Bemagtiging (SEB). Die SEB-komitee was die afgelope jaar veral aktief met die identifisering van potensiële SEB-vennote vir Bontebok Lime Works ten einde te voldoen aan die vereistes vir die hernuwing van die mynlisensie. Etiek Besigheidsetiek vereis van elke Direkteur en werknemer van Overberg Agri om, te alle tye aan hoë morele, etiese en professionele standaarde te voldoen. Formele beleide en gepaardgaande prosesse bestaan waarvolgens Direkteure en werknemers hul belange op gereelde basis verklaar en ’n geslote periode vir aandeleverhandeling bestaan vir An Internal Audit function, assigned to Boshoff Visser, Bredasdorp, exists within the Group which is primarily focussed on investigating internal control systems and the management and control of identified risks. The Internal Auditor reports directly to the Audit and Risk Committee regarding its operations. The principles of responsibility and accountability are continuously emphasised, applied and supported through internal management and control within the Group. In view of a recent act of fraud at the subsidiary company, CAM Motors, renewed focus is being placed on compliance with and the effectiveness of internal control systems. The going-concern principle was applied in preparing the financial statements and the Board has no reason to believe that the Group will not be a going concern within the foreseeable future, based on the estimates and cash resources available. The viability and sustainability of the Group is supported by its financial statements. Social responsibility Overberg Agri is well aware of its social responsibility towards the environment, community and employees and is committed to the sustainable growth, development and protection of the environment within which the Group functions. Employees are actively involved in the communities within which the Group operates. The Group has a formal donations policy which places the focus on the communities within which the Group functions. Transformation and Black Economic Empowerment The Board and Management of Overberg Agri support the principles of Black Economic Empowerment (BEE). The BEE committee was especially active during the past year in identifying potential BEE partners for Bontebok Lime Works in order to comply with the requirements for the renewal of the mining license. Ethics Business ethics requires that each Director and employee of Overberg Agri complies with high moral, ethical and professional standards at all times. Formal policies and accompanying processes exist requiring Directors and employees to declare their interests on a regular basis and a closed period exists for share trading for Directors and employees at times when they have more knowledge than shareholders. The Group has a formal “whistle blower” policy that has 16
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