Nomination of Directors
The procedures for the appointment, re-appointment and removal of directors are outlined in the Constitution of the company. Directors are normally appointed or re-appointed by the Shareholders at the Annual Meeting or by the Board of Directors when filling any casual vacancy. Directors are selected/appointed by the Shareholders through their own process. All Directors' are made aware of their legal duties as well as of their fiduciary duties at the time of their appointment.
Remuneration of Directors
The remuneration of the directors including non-executive directors is determined by the Shareholders at the Annual Meeting of the company. The director fees are a monthly fixed fee while the director fees for sub-committees of the Board are paid on a per sitting basis. In the Annual Report the directors' remuneration is disclosed in total in view of the confidentiality and sensitivity of the information.