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Governance and Remuneration:

STATEMENT OF
DIRECTORS’
RESPONSIBILITIES

The Directors are responsible for preparing the annual report, including the financial statements, in accordance with applicable legislation and regulation.

The Act requires the Directors to prepare financial statements for each financial year. The Directors prepared the Group and Company financial statements in accordance with IFRS, as adopted by the EU. The Directors should only approve the financial statements if they are satisfied that they give a true and fair view of the state of affairs of the Group and Company and of the profit or loss of the Group and Company for the reporting period. In preparing the financial statements, the Directors are required to:

  • select suitable accounting policies and apply these consistently;
  • state whether applicable IFRS, as adopted by the EU, have been followed for the Group and Company financial statements respectively, subject to any material departures disclosed and explained in the financial statements;
  • make judgments and accounting estimates that are reasonable and prudent; and
  • prepare the financial statements on the going-concern basis, unless it is inappropriate to presume that the Group and Company will continue in business.

The Directors are responsible for safeguarding the assets of the Group and Company and hence for taking reasonable steps to prevent and detect fraud and other irregularities.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Group’s and Company’s transactions and disclose with reasonable accuracy, at any time, the financial position of the Group and Company and enable them to ensure that the financial statements and the Directors’ Remuneration Report comply with the Act and, in respect of the Group’s consolidated financial statements, Article 4 of the International Accounting Standards Regulation.

The Directors are responsible for the maintenance and integrity of the financial and associated corporate information published on the Company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

DIRECTORS’ CONFIRMATIONS

The Directors consider that this Annual Report, which contains the annual financial statements, taken as a whole, is fair, balanced and understandable and provides the information necessary for shareholders to assess the position, performance, business model and strategy of the Group and Company.

Each of the Directors, whose names and functions are listed in Board of Directors, confirm that to the best of their knowledge:

  • the Group and Company financial statements, which were prepared in accordance with IFRS, as adopted by the EU, give a true and fair view of the assets, liabilities, financial position, cash flows and results of the Group and the Company; and
  • the Directors’ Report includes a fair review of the development and performance of the business and the position of the Group and the Company, together with a description of the principal risks and uncertainties that they face.

DISCLOSURE OF INFORMATION TO EXTERNAL AUDITOR

In the case of each Director in office on the approval date of the Directors’ Report, they confirm that:

  • in so far as the Directors are aware, there is no relevant audit information of which the Group and Company auditor is unaware; and
  • they have taken all reasonable steps as a Director to ascertain any relevant audit information and to establish that the Group and Company’s auditor is aware of that information.

For and on behalf of the Board.

Dr Ronnie van der Merwe
Chief Executive Officer
22 May 2019

Mr Jurgens Myburgh
Chief Financial Officer
22 May 2019

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