The Company is committed to the highest international standards of corporate governance. The Group plans to continue improving in this area and adhering to internationally-recognised standards of corporate governance, transparency, disclosure, and accountability applicable to listed companies.

The Company has made substantial changes to its corporate governance practices throughout 2018 and 2019 to date (as further discussed below) as a result of the OFAC sanctions imposed on 6 April 2018 and their subsequent removal on 27 January 2019. Following such changes, the Company is capable of committing to, and maintaining the highest international standards of, corporate governance. Adhering to the highest standards of corporate governance is a crucial element in attracting fresh investment, strengthening the Group’s competitive position, and enhancing shareholder value. Good governance is based on clarity of roles and responsibilities, and we aim to ensure that our governance procedures are applied to all areas of decision-making across the Group, including the Board, the management teams, and the other individuals who contribute to our daily activities.

The Board has therefore developed and approved a set of corporate governance principles to act as guidelines for maintaining the highest standards of corporate governance. These principles cover the Board’s relationship with shareholders and the management team as well as the roles and responsibilities of the various Board committees. The Board is responsible to all En+ Group’s stakeholders for its conduct and for the performance of the En+ Group. The day-to-day running of the Company is delegated by the Board to the management team. However, the Board retains responsibility for the approval of certain matters, which affect the shape and risk profile of the Company (see details below). The Company’s corporate governance principles outline the relationship between the Board and the Company’s shareholders and management team, as well as the remit and duties of the Board committees.

We consider the following corporate governance principles to be fundamental to our operations:

  • Transparency;
  • Open and clear decision-making;
  • Legal compliance, including clear and robust compliance with US economic sanctions and the requirements for the Company to be, and remain clear from, the OFAC Sanctions;
  • Protection of the environment and the health and safety of its employees;
  • The ongoing growth of the Company’s value for the benefit of all stakeholders.