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Shanta Gold is a low cost gold producer with significant resource upside, within and surrounding its New Luika Gold Mine, with additional development opportunities in Tanzania

Governance

The Board meets a minimum of four times per year and has five non-executive Directors. The Board is responsible for setting the company strategy, ensuring corporate governance is of an appropriate standard, approves the one and five year business plan and appoints the Chief Executive Officer. The Board has three sub-committees who meet a minimum of three times per year and are chaired by a non-executive Director; the Audit committee is responsible for ensuring that appropriate financial reporting procedures are properly maintained and disclosed in accordance with governing regulations. The Sustainability Committee ensures the company is considerate of all stakeholders and operates in accordance with the laws of the country in which the company operates. The Remuneration and Nominations Committee ensures that the company has a remuneration strategy that attracts and retains the necessary skills. It is also responsible in conjunction with the Chairman for ensuring that the Board is correctly structured in terms of good corporate governance.

As of June 13 2017, the structure and membership of Board committees was as follows:

Board committees

Audit committee

  • Robin Fryer (Chairman)
  • Ketankumar Patel
  • Luke Leslie

Sustainability committee*

  • Ketan Patel (Chairman)
  • Anthony Durrant

* Responsible for safety, health & environment and community.

Remuneration and Nominations committee

  • Luke Leslie (Chairman)
  • Robin Fryer

Ethical Transactions and Anti-Corruption

Shanta Gold’s stance is to ensure no engagement in or tolerance of bribery in any form within the Company, the Company’s subsidiaries, or within organisations, groups or individuals with which it does business. Although Shanta Gold does not conduct any part of its business in the United Kingdom, as part of the Company’s compliance procedures in maintaining the highest standards of corporate governance, Shanta Gold adheres to the standards of the UK Bribery Act 2010. All officers and staff of Shanta Gold are required to comply with the Anti-Bribery Policy and, so far as is practicable, so are third parties with whom the Company does business. The Company has implemented an Ethical Transactions and Anti-Corruption Management Standard, including socialisation with some stakeholders. The Board of Directors of Shanta Gold have overall responsibility for bribery prevention within Shanta Gold.