2020 Integrated Annual Report

and Consolidated & Separate
Financial Statements

Governance

The board is committed to the promotion of a culture based on ethical behaviour, good performance, effective control and legitimacy.


Gavin Tipper
Chairman


The board recognises the importance of the triple context in which the Company operates (economy, society and the environment) and seeks to ensure that operations are conducted in a manner that takes account of the six capitals (financial, intellectual, manufactured, human, social and relationship, and natural).

Corporate governance is approached with a view to meeting the following objectives:

  • Reinforcing corporate governance as a holistic and interrelated set of arrangements to be understood and implemented in an integrated manner
  • Encouraging transparent and meaningful reporting to stakeholders
  • Presenting corporate governance reports with reference to structure and process, as well as ethical consciousness and conduct.

The board is ultimately responsible for the ethical behaviour of the business and regularly reviews the Company's governance structures to ensure these remain relevant and effective in achieving these objectives.

KEY RESPONSIBILITIES OF THE BOARD

  • Custodian of corporate governance for the Group
  • Contributes to, and approves the Group's strategy
  • Provides ethical leadership and ensures that the Group is a responsible corporate citizen and complies with applicable laws
  • Ensures that its membership is appropriate to carry out its duties and that there is a balance of power among its members
  • Promotes transformation, gender and race diversity and succession planning to ensure sustainable leadership structures
  • Ensures that the Group has an effective system for identifying and managing risks and provides guidance and advice on the Group's financial, audit, governance and other risk management processes.

Ethical leadership

In conducting the affairs of the Company, the board endorses the principles of fairness, responsibility, transparency and accountability advocated by King IV.

Hyprop is a listed REIT, and it is required to comply with the JSE Listings Requirements and rules specific to REITs in South Africa, along with country-specific legislation and standards.

The board monitors the Company's compliance with applicable legislation, regulations, codes and standards and there has been no material non-compliance during the year.