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Chapter 4: Ethics

KING IV PRINCIPLES

The King IV Report on Corporate Governance for South Africa was released on 1 November 2016 and is
effective for financial years commencing 1 April 2017.

King IV advocates an outcomes-based approach and defines corporate governance as the exercise of ethical
and effective leadership towards achieving the following governance outcomes:

Ethical culture
Good performance
Effective control
Legitimacy

Despite not being subject to the JSE Listing Requirements, Nimble has embraced the new code and seeks to
conduct itself in terms of the King IV Principles, which are listed below.

1 Lead ethically and effectively.

2 Govern the ethics of the organisation in a way that supports the establishment of an ethical culture.

3 Ensure that the organisation is and is seen to be a responsible corporate citizen.

4 Appreciate that the organisation’s core purpose, its risks and opportunities, strategy, business model,
performance and sustainable development are all inseparable elements of the value creation process.

5 Ensure that reports issued by the organisation enable stakeholders to make informed assessments of the
organisation’s performance.

6 Serve as the focal point and custodian of corporate governance in the organisation.

7 Comprise the appropriate balance of knowledge, skills, experience, diversity and independence for it to
discharge its governance role and responsibilities objectively and effectively.

8 Ensure that its arrangements for delegation within its own structures promote independent judgment and
assist with balance of power and the effective discharge of its duties.

9 Ensure that the evaluation of its own performance and that of its committees, its chair and its individual
members, support continued improvement in its performance and effectiveness.

10 Ensure that the appointment of, and delegation to, management contribute to role clarity and the effective
exercise of authority and responsibilities.

11 Govern risk in a way that supports the organisation in setting and achieving its strategic objectives.

12 Govern technology and information in a way that supports the organisation setting and achieving its strategic
objectives

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