EFFECTIVE MANAGEMENT OF RISK IS A KEY TO THE GROWTH AND SUCCESS OF OUR COMPANY

Monax recognises the importance of identifying and controlling risks to ensure that they do not impact on the success and growth of the company.

Procedures have been established at the Board and executive management levels which are designed to safeguard the assets and interests of the company and to ensure the integrity of reporting.

The Board reviews and discusses strategic risks and opportunities arising from changes in the company's business environment regularly and on an as needs basis.

Monax integrates risk management into all aspects of its business activities.

Where required the Board is entitled to rely on other Directors for their areas of expertise.

The Board delegates some of the responsibility to committees of the Board but maintains the overall responsibility for the process.

The following committees have been established to assist the Board in internal control and business risk management:

• Audit and Corporate Governance Committee
• Remuneration and Nominations Committee
• Environment and Community Development Committee (Management)
• Safety, Security and Occupational Health Committee (Management)