31 MARCH 2015ALEXANDER FORBES GROUP HOLDINGS LIMITEDINTEGRATED ANNUAL REPORT

KING III GOVERNANCE

Alexander Forbes aims to follow the King III principles as closely as possible and the table of how each principle is applied is available on our website. Our application of the following principles differs from the guidelines as follows:

King III principle

 

Explanation

Principle 2.16

The board should elect a chairman who is an independent non-executive director. The CEO of the company should not also fulfil the role of chairman of the board.

The chairman was previously appointed as executive chairman and became non-executive on 24 July 2014. Therefore, in terms of governance practice, a lead independent director has been appointed.

Principle 9.3

Sustainability reporting and disclosure should be independently assured.

Sustainability reporting is not independently assured.