Board of Directors
The Board of Multiverse Mining and Exploration Plc is made up of highly qualified professionals with diverse skills and experience in various fields. The Non-Executive Board members have the capacity to make unbiased judgment without influence by management.
The Role of the Board
The Board is responsible to shareholders for creating and sustaining shareholder value through the management of the business. They are expected to make decisions that are in the best interest of the stakeholders in the long term. The Board is also responsible for ensuring that management maintains a system of internal control which provides assurance of effective operations, internal financial controls and compliance with the laws and regulations of the company.
The strategic objectives and policies of the company are set by the Board. It ensures that both the long term goals and short term objectives that management pursues are consistent and in the best interest of all stakeholders. The Board is aware of the importance of adhering to the governance principles, so it ensures that the business of the company is in conformity with governance principles.
The Board has the statutory power to deliberate and approve decisions that are material to the company, including the periodic financial statements, changes in accounting policies and practices, risk management policies, appointment or removal of a director, mergers and acquisitions.
The responsibility for the day to day management of the company is delegated to the Executive Directors.
The Board of Directors statutorily meet at least 4 times in a year.
In accordance with statutory and regulatory requirements, members of the Board are divided into different committees to assist the Board in its management and oversight functions. The standing committees of the Board are as follows:
This committee comprises of the Managing Director/(CEO), the Executive Director, the Technical Director and other top management staff. They work with the Managing Director to oversee the day to day running of the company and implement the strategic objectives of the company.
Board Remuneration Committee
This committee is comprised of two non-executive directors and the company secretary. They are responsible for administering the company’s executive compensation package, and implements and oversee compensation policies approved by the Board.
The committee meets at least 3 times annually.
Establishment & Disciplinary Committee
This committee comprises of three non-executive directors. They are responsible for monitoring compensation arrangements to ensure that the company is attracting and retaining highly qualified staff through competitive salary and benefits, programs and awards, review long range planning for top and senior management development and succession.
They are also responsible for the employment, disengagement and promotion of management staff and recommendation on such issues as they deem fit to the Board. They also formulate Board training program/schedule.
This committee comprises of three non-executive directors, each of whom is independent and financially literate. The audit committee reviews and reports to the board on the integrity of the company’s financial statements, ensures that the company has designed and implemented effective internal financial controls and reviews the compliance with regulatory and statutory requirements as they relate to the financial statements and disclosure of material facts.
Performance Highlights & Objectives
Multiverse Mining and Exploration Plc seeks to achieve a safe, productive and healthy work environment through responsible business management carried out in a manner designed to protect employees, adjacent communities and the natural environment. Better practices are being incorporated in pursuit of these goals.
Multiverse Mining and Exploration Plc aims to create sustainable value in host communities in which we operate.
We recognize that our operations can have significant economic, social and environmental impacts on local communities throughout the life cycle of our mining projects. Our approach will be to leverage positive impacts, including local hiring and procurement. Our approach to stakeholders engagement, employment and labour practices and investments in community infrastructure are detailed below.
We recognize that effective stakeholders engagement can both create and manage risk by building a climate of mutual trust and respect. Beyond risk management, effective stakeholder engagement helps identify emerging issues that may influence evolving community perceptions, business operations and market conditions. Strategically, effective engagement is critical to establishing credibility as a partner of choice. The company believes it is essential to conduct dialogue in a spirit of openness, transparency and good faith, to be active listeners, and to follow up conscientiously on outstanding unresolved issues.
|STAKEHOLDER||KEY INTEREST AND CONCERNS||METHOD OF ENGAGEMENT|
|Employees and Contractors||Health and safety on site
|Detailed HSE policies applicable to employees and contractors
Regular employee performance reviews
|Governments||Fiscal and regulatory frameworks
|Regular consultations with, and adherence to government directives
Applications for environmental permits associated with expansions
Training and skills development
|Local Communities||Environmental and social impact of operations
Local employment and procurement
|As operating sites mature, meetings will be held with community representatives as required or upon request|
High quality products
|Regular discussions and provision of health and safety data on Products|
|Labour Unions||Workers interest Collective bargaining||Maintenance of a mixture of individual and collective agreements Respect the right of each worker to freely choose to join a union.|
|Non-Governmental Organizations||Social and environmental performance of operation||Engagement with national and international NGOs primarily through and regular attendance at special forums on CSR related to the mining industry.|
Risk assessment and mitigation
|Continued vigilance with respect to business ethics Analyst and investor briefings and press releases|
|Financial Institutions||Enhanced Sustainability reporting||Responses to requests for information on HSE performance
Production of 2011 EIA Report