GOVERNANCE STATEMENTS

 

Corporate Governance

In pursuing its corporate objective to become a major low cost producer of zinc, ZincOx is committed to the highest level of governance and strives to foster a culture that values and rewards exemplary ethical standards, personal and corporate integrity and respect for others. The ZincOx approach to governance is founded on the belief that there is a link between high quality governance and the creation of real value. Whilst there is no corporate governance regime that AIM companies are formally required to adhere to, ZincOx broadly follows the Corporate Governance Guidelines for AIM Companies published by the Quoted Companies Alliance. This report and the Remuneration Committee Report (page 17 of the Annual Report & Accounts 2015) identify how ZincOx has complied with both the individual principles and the ‘spirit’ of the Code as a whole.

ZincOx is a public company incorporated in the United Kingdom and, therefore, subject to the UK City Code on Takeovers and Mergers.

Board of Directors

The board currently meets every other month and is supplied with appropriate and timely information. The board consists of two executive directors who hold the key operational positions in the Company and two non-executive directors, one of whom is the Chairman, who bring a breadth of experience and knowledge. For further details of the directors, please click here.

Audit Committee

The Audit Committee comprises two non-executive directors, Gautam Dalal (Chairman), and Rod Beddows. The Finance Director also attends committee meetings. The Committee is formally constituted with written terms of reference under which it may examine any matters relating to the financial affairs of the group and the group’s audit, including reviewing the annual financial statements and announcements internal control procedures, accounting policies, the appointment and fees of external auditors and such other related functions as the board may require.

Remuneration Committee

The Remuneration Committee comprises two non-executive directors, Rod Beddows (Chairman) and Gautam Dalal. The Committee determines the terms and conditions of service of the executive directors, including their annual remuneration, in consultation with the Chairman and takes into consideration external data and third party remuneration. The Remuneration Committee has also advised the company on the adoption of new share option schemes and sets the performance targets for the schemes. Terms of reference

Nomination Committee

The Nomination Committee comprises two non-executive directors, Rod Beddows (Chairman) and Gautam Dalal. The Committee reviews potential appointees to the Board and recommends suitable candidates for consideration by the Board. Terms of reference

 
Environmental Superiority
ZincOx is committed to the proper stewardship of the earth’s natural resources and the environment and to carrying out all its activities in a socially responsible manner, as it sees its own long-term success being directly related to the adherence to these principles. It fully accepts and encourages the employment and improvement of the local communities in which the group operates so that they are left as both short and long term beneficiaries of ZincOx’s operations. Their policy includes the following values:

      1.Treating all parties with equity and respect;
      2.Promoting transparent business relationships;
      3.Understanding and respecting the rights of indigenous peoples to retain their culture, identity, customs and traditions; and developing self reliability through education and training.

ZincOx recognises that sound environmental management is essential for its long term aims and ambitions. Understanding, minimising and mitigating environmental impacts, as well as using all resources prudently and efficiently, is critically important to ZincOx. Please click to view the ZincOx Group Integrated Environmental, Health, Safety and Quality Policy.

The ZincOx recycling process is environmentally superior to existing alternatives in three respects: 1. No waste creation 2. High recovery – almost 100% recycling of zinc and lead and over 90% recovery of iron. 3. Produces less carbon emissions than traditional technologies.

In 2007 the company’s efforts were recognised when it was awarded the Mining Journal’s Outstanding Achievement Award for Sustainable Development.

In October 2012 ZincOx received a Commendation Award by the South Korean Minister of Knowledge Economy.