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Social and Ethics Committee~ With e ect from 5 October 2015, the following Board and committee changes took place:- Mr CJ Roodt was appointed to the Board;- Ms CH Wiese became an alternate director for Ms CC Wiese and resigned from the Audit and Risk Committee and theRemuneration Committee;- Ms L Mangope was appointed to the Audit and Risk Committee;- Mr CE Pettit was appointed as Chief Executive O cer and resigned from the Remuneration Committee and the NominationsCommittee and thereafter Mr PJ van Zyl became the Chairman of the Remuneration Committee;- Ms J de Bruyn resigned from the Remuneration Committee;- Mr CJ Roodt was appointed to the Remuneration Committee and Nominations Committee;- Ms CC Wiese resigned from the Nominations Committee; and- Ms L Mangope resigned from the Social and Ethics Committee and was replaced by Ms CC Wiese.ACCOUNTABILITY AND AUDITGoing ConcernThe directors have made an assessment of the Company and the Group’s ability to continue as a going concern. The directors have every reason to believe that the Company and the Group have adequate resources in place to continue operating for the foreseeable future and the annual nancial statements have been prepared on the basis of this assumption.Internal Financial ControlThe directors have responsibility for the Group’s systems of internal controls. These are designed to provide reasonable assurance of e ective and e cient operations, internal nancial control and compliance with laws and regulations.The Group’s system of internal controls is designed to provide reasonable, but not absolute assurance against the risk of material errors, fraud or losses occurring. Furthermore, because of changing internal and external factors, the e ectiveness of an internal control system may vary over time and must be continually reviewed and adapted.The system of internal controls is monitored throughout the Group by the Audit and Risk Committee, external auditors and management as an integrated approach.The Board reports that:• to the best of its knowledge and belief, no material malfunction of the Group’s internal control system occurred during the periodunder review;• it is satis ed with the e ectiveness of the Group’s internal controls and risk management;• it has no reason to believe that the Group’s code of ethics has been transgressed in any material respect; and• to the best of its knowledge and belief, no material breaches of compliance with any laws and regulations applicable to the Grouphave occurred during the period under review.Internal Audit and Whistle-blowing Ethics HotlineGiven the nature of the operations as an investment holding company, no internal audit function or whistle-blowing hotline has been instituted by the Group. The Audit and Risk Committee receive quarterly feedback from management in respect of the internal controls at investee level, assess the impact to the Group and recommend remedial actions where appropriate.Member16 January 20157 May 201527 August 201524 November 2015DD Tabata (Chair)YesYesYesYesJ de BruynYesYesYesYesL Mangope~YesYesYesn/aCC Wiese~n/an/an/aYesSTELLAR CAPITAL PARTNERS | 27