Corporate Governance
Industrials REIT is a Guernsey-registered UK REIT. It is listed on the Main Market of the London Stock Exchange and on the Main Board of the Johannesburg Stock Exchange.
Read the Articles of Incorporation
The Board endorses the principles of fairness, responsibility, transparency and accountability, and is committed to unwavering standards of business integrity and ethics in its activities. We fully recognise the fact that robust corporate governance practices enhance both shareholder value and the long-term sustainability of our business and, as such, we regularly review and benchmark the Group’s governance structures and processes to make certain that they support effective and ethical leadership, good corporate citizenship and sustainable development.
Governance structure
Board of Directors
Key responsibilities
Responsible for the Group’s purpose, values and strategy, and the promotion of its long-term sustainable success. It develops and reviews the Group’s strategy and ensures that adequate internal controls and risk management processes are in place. It is also responsible for ensuring effective communication with all stakeholders. Certain matters are reserved for the Board’s approval, with other matters delegated to the committees of the Board or the executive directors as appropriate.
Audit and Risk Committee
Key responsibilities
Oversees the external audit process, financial reporting, internal controls and risk management framework, and assesses the need for an internal audit function.
Remuneration Committee
Key responsibilities
Determines the remuneration policy, sets the executive directors and senior management remuneration, and approves annual and long-term performance objectives and awards.
Nomination Committee
Key responsibilities
Reviews the Board composition and recommends changes, reviews the independence of directors, responsible for succession planning and annual board evaluation.
Social and Ethics Committee
Key responsibilities
Responsible for sustainable, social and economic development, responsible corporate citizenship and labour and employment relationships.
Audit and Risk Committee
The Audit and Risk Committee meets at least three times a year. It is responsible for monitoring the integrity of our financial statements and accounting policies and practices, ensuring we maintain an effective system of internal financial control and reporting.
Read the full terms of reference of the
Audit and Risk Committee
Download Signed independent auditor's
report for the year ended 31 March 2022
It oversees the internal and external audit processes, the provision of any non-audit services, and the application of a combined assurance model. It reviews and recommends for approval by the Board the interim and annual financial statements, considering compliance with regulatory and listing obligations, and considering and recommending the going-concern assumption adopted by the Board.
The Committee is also responsible for advising the Board on current and potential future risk exposures of the Group, promoting a risk awareness culture within the Group and ensuring the risk management process is effective and continuously developed. The Committee ensures that risk exposures across the business are effectively managed and reduced to acceptable levels.
Remuneration Committee
The Remuneration Committee meets at least twice a year and is responsible for determining specific remuneration packages for the executive directors and certain senior executives of the Group, including pension rights and any compensation payments.
Read the full terms of reference of the
Remuneration Committee
It also recommends and monitors the level and structure of remuneration for senior management and oversees the implementation of share option or other performance-related schemes.
Nomination Committee
The Nomination Committee meets at least twice a year and is responsible for considering and recommending to the Board candidates for appointment to the Board and the Board committees.
Read the full terms of reference of the
Nomination Committee
It is also responsible for keeping the structure, size and composition of the Board under regular review and for succession planning.
The Social and Ethics Committee meets at least once a year and is responsible for matters relating to social and economic development, responsible corporate citizenship, sustainable development, consumer relationships and employment relationships.
Read the full terms of reference of the
Social and Ethics Committee
Sign up to receive the latest information direct to your inbox
Social and Ethics Committee