The directors are bound by a written Code of Ethics that forms part of the Board Charter. It aims to ensure that Growthpoint and its agents conduct the business according to the highest ethical standards. In particular, the code seeks to ensure compliance with applicable laws and regulatory bodies, and in a manner that is beyond reproach.
The Code of Ethics reads as follows:
"The board of directors of Growthpoint Properties Limited commits itself to ensure, as far as it lies within its powers to do so, that the company and its agents conduct the business according to the highest ethical standards and, in particular:
- Comply with all laws of the country that affect the company
- Comply with the rules of the JSE Limited
- Not act in any way that may be regarded as harmful business practice
- Act in the best interests at all times of the various stakeholders, including linked unitholders
- Be transparent in disclosing all material information that may influence investors and potential investors
- Conduct the business as a responsible corporate citizen, having regard for the impact the business may have on the public and the environment
- Trade in securities of the company only in open periods and with the prior written permission of the Chairman and/or Chief Executive Officer
- Not trade in competition with the company
- Not hold positions that give rise to a conflict of interests and, should any potentially conflicting situations arise, to make full, prior written disclosure to the board and abstain from participating in any discussions or voting on the matter, unless the board consents thereto"
Compliance with the code is monitored on an ongoing basis, by, among other things, regular updating of the board on all legislature changes, compulsory authorisation for, and reporting of, all dealings in the company’s linked units and disclosure of any conflicts of interest.
During the reporting period, we had no incidents of major non-compliance, fines or prosecutions linked, for example, to anti-competitive practices or other governance and economic issues, or non-compliance with our Code of Ethics. |