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Hyprop Investments Limited
Integrated annual report 2016
PRINCIPLE
BOARD REQUIREMENT
COMMENT
APPLIED/ PARTIALLY
APPLIED/NOT APPLIED
2.23
The board should delegate
certain functions to
well-structured committees,
but without abdicating its
responsibilities.
Without abdicating its own responsibilities, the board delegates
certain functions to the:
•
•
Audit committee
•
•
Risk committee
•
•
Investment committee
•
•
Remuneration and nomination committee
•
•
Social and ethics committee
Each committee has a formal charter approved by the board that
is reviewed regularly.
Applied
2.24
A governance framework
should be agreed between
the group and its subsidiary
boards.
All company policies and procedures are followed by subsidiary
boards.
Applied
2.25
Companies should
remunerate directors and
executives fairly and
responsibly.
The board is responsible for ensuring Hyprop has an appropriate
remuneration strategy. The remuneration and nomination
committee has an independent role, making recommendations to
the board for its consideration and final approval to ensure the
group remunerates directors (including fees for non-executive
directors) and executives fairly and responsibly; and that disclosure
of directors’ remuneration is accurate, complete and transparent.
Remuneration is set out in the remuneration report. Fees for board
and committee members are approved annually at the annual
general meeting.
Applied
2.26
Companies should disclose
the remuneration of each
individual director and
prescribed officers.
The remuneration of directors is disclosed in note 23 to the
financial statements.
Applied
2.27
Shareholders should approve
the company’s remuneration
policy.
Details of the remuneration policy are on pages 84 to 88. The
remuneration policy is submitted to shareholders to consider and
endorse by way of a non-binding advisory vote at the annual
general meeting.
Applied