Welcome to Efora Energy Limited
Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE.
The Board delegates specific functions to subcommittees to assist in meeting its overall responsibilities. These subcommittees all act in accordance with approved terms of reference which are reviewed annually by the Board to ascertain levels of performance and effectiveness.
The subcommittees are empowered to make recommendations to the Board that are deemed appropriate in any area within the ambit of their terms of reference where action or improvement is required.
Due to the current size of the Board, as well as in its endeavours to comply with the recommendations and principles of King IV, the role and functions of the Social and Ethics Committee were combined with those of the Remuneration Committee to form a Social, Ethics and Remuneration Committee. The Board will give further consideration to this in the event that additional Non-executive Directors are appointed to the Board.
The Board, after being satisfied that the arrangement for delegation within its own structures promoted independent judgement and assisted with balance of power and effective discharge of its duties, delegated particular roles and responsibilities to the following Board Committees:
There is transparency and full disclosure by the Committees to the Board in the form of written reports by the respective Committee Chairpersons.
The subcommittees are empowered to make recommendations to the Board within the ambit of their Board-approved terms of reference, which set out the purpose, composition and roles and responsibilities, amongst other matters, which are reviewed annually and updated where necessary.
The Chairpersons of the respective Committees are appointed by the Board.