Independence of directors

The Board charter promotes a unitary board structure and Aveng is committed to maintaining a smaller but effective Board composed of a maximum of eight executive and non-executive directors, 75% of whom should be independent non-executive directors.

Ethical conduct

Aveng is committed to the highest standards of business integrity and ethical conduct. The Group recognises that sound governance supports its business strategy, builds trust and contributes to the creation and preservation of value for stakeholders.

The Aveng Board is ultimately responsible for the governance of the Company. The Board ensures that governance is underpinned by the Group's values of safety and care, honesty and integrity, customer focus, performance excellence, and working together.

Through the application of King IV, Aveng aims to maintain the key governance outcomes of ethical culture, good performance, effective control, and legitimacy. The Board monitors the King IV register regularly and is satisfied that the Group has, in all material aspects, applied King IV.

Compliance and governance approach

The oversight roles, responsibilities, membership requirements and procedural conduct of the Board are documented in the Board charter which is reviewed annually. The Board maintains oversight of the management and control structure of the Group. The Group implements the strategy. The governance framework is structured to ensure compliance with laws, regulations, and codes of best practice applicable in all countries within which the Group operates.

Practices and frameworks are reviewed regularly, taking into account the dynamic landscape in which Aveng operates, which is influenced by, among other factors, economic changes, geopolitics, heightened regulatory scrutiny and cyber security risks. This enables the Group to act in the best interest of all our stakeholders.