Conflicts of Interest

A conflict of interest arises when the interests of any person or entity interferes or appears to interfere with the interests of the company in cases such as when a Board Member and / or Senior Management’s personal interests interferes or appears to interfere in any way with the interests of the company or a Board Member and / or Senior Management or a member of his / her immediate family receives any personal benefit as a result of the position they acquire in the company or because of the other duties, responsibilities or obligations, the duties and responsibilities of the Board Member and / or Senior Management run against the interest of the company.

While this code does not attempt to describe all possible conflicts of interest, the following are some of the conflicts that the Board Members and Senior Management including General Managers and territorial General Managers must avoid:-

• any decision on a subject matter in which a conflict of interest arises or which is likely to arise.
• engaging in any conduct or activity that interferes with the company’s prospective business relationships with a third party.
• not disclosing to the Board in relation to all material, financial and commercial transactions where they have personal interest.
• any dealing with a Contractor or Supplier that compromises the ability to transact business on a professional, impartial and competitive basis or that may influence discretionary decision to be made by the Board Members of the Company.
• any position or engagement in outside business or other interest that is prejudicial to the interests of the company.
• acceptance of any improper payments or bribes for services relating to the conduct of the business of the company.
• accepting any gift directly or indirectly from any one having business dealings with the company as would reasonably be expected to influence their actions as the member of the Board or Senior Management personnel.