Copyright© JSE Limited 2009

www.jse.co.za

Corporate Governance

AltX – is it different?

Noah Greenhill

2

www.jse.co.zawww.jse.co.za

2

AltX

Established 2003

75 companies listed

R10bn market capitalisation

3 key quality controls

• Designated Advisor

• AltX Advisory Committee

• Directors Induction Programme

Ongoing obligations

3

www.jse.co.zawww.jse.co.za

3

The Stakeholders

The Board

Management

Shareholders

Regulators

Environment

Service providers

4

www.jse.co.zawww.jse.co.za

4

The evidence

Listing requirements

Companies Act

King III

Board charters and committees

Chairman

Directors

• Executive

• Non-executive

• Independent non-executive

Processes

Visuals – AFS and other documents

“Substance over form”

5

www.jse.co.zawww.jse.co.za

5

Some more evidence

9 had Executive chairman

24 had no remuneration committee

Reports

• Management report

• Year on year analysis

• Annual Financial Statements

• Corporate Governance and Sustainability review

6

www.jse.co.zawww.jse.co.za

6

Conclusion

Makes a difference

Attitude

Adds to the quality

• Company

• Investor

• Other stakeholders

7

www.jse.co.za