The Company

Transpaco Corporate Governance

Approach and statement of compliance 

The directors of Transpaco are fully committed to upholding the principles of good corporate governance. These include discipline, responsibility, accountability, fairness and transparency. As governance principles and practices evolve globally, so Transpaco reviews current governance principles and practices in the group and incorporates local and international best practice.



Good governance has been a long embedded tenet of daily business, extending beyond regulatory compliance. The directors recognise that the long-term sustainability of the group requires a balance of financial, economic, social and environmental objectives with due consideration to constructive stakeholder involvement. The board therefore aims to ensure that sustainability components form part of all strategic decisions, audits and assessments.

The board’s commitment to responsible corporate citizenship is also evidenced in adherence to the Code of Corporate Practices and Conduct as set out in the King III Report and compliance with the Companies Act. Any instances of non-compliance have been explained as required.

Company Code Of Ethics


Company principles

Transpaco’s code of business principles describes the operational standards that everyone at Transpaco follows. It also supports the companies approach to governance and corporate responsibility. 


Code of business principles


Standard of conduct

Transpaco conducts operations with honesty, integrity and openness, and with respect for the human rights and interests of our employees. The group of companies shall similarly respect the legitimate interests of those with whom the company has relationships. The Transpaco group of companies will endeavour to promote sound and ethical business practices. In order to achieve this the group will commit itself to:

Endorsing the application of the principals recommended in the Code of Corporate Practices and Conduct embodied in the King III Report. The company views the implementation of good corporate governance practices as integral to its business and recognises the need to conduct business with openness, integrity and accountability, and to provide timeous, relevant and meaningful reporting to all stakeholders 


Obeying the law

The Transpaco Group companies and employees are required to comply with the laws and regulations of the Republic of South Africa.

Employees

The Transpaco Group is committed to diversity in a working environment where there is mutual trust and respect and where everyone feels responsible for the performance and reputation of our company. Transpaco will recruit, employ and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. The company is committed to the promotion of Equality as prescribed by the Employment Equity Act, and to safe and healthy working conditions for all employees. No form of labour prohibited by South African law will be used. Transpaco is committed to ongoing training in order to develop and enhance employee’s skills and capabilities and respects the legal rights of employees, and specifically the right to freedom of association. Transpaco will protect the constitutional rights of all our employees, by not tolerating any form of harassment or discrimination including, but not limited to: sexual, political, union affiliation, religion, race, gender, sexual orientation, language, health status or disability and cultural nature. Transpaco will maintain communication with employees through company based information and consultation procedures.






Customers

Transpaco group is committed to providing products which consistently offer value in terms of price and quality, and which are safe for the environment, through recycling.

Shareholders

Transpaco group will conduct its operations in accordance with internationally accepted principles of good corporate governance. Timely, regular and reliable information on our activities, structure, financial situation and performance will be provided to to all shareholders.

Business partners

Transpaco group is committed to establishing mutually beneficial relations with suppliers, customers and business partners. In business dealings partners are expected to adhere to business principles consistent with that of the Transpaco Group. Transpaco is committed to the promotion of Broad Based Economic Empowerment principals through established Affirmative Procurement Policies.


Community involvement

Transpaco group strives to be a concerned corporate citizen and, as an integral part of society, to fulfil its responsibilities to the societies and communities in which it operates. 
 

Public activities

Transpaco group companies are encouraged to promote and defend their legitimate business interests. Transpaco group will co-operate with governments and other organisations, both directly and through bodies such as trade associations, in the development of proposed legislation and other regulations which may affect legitimate business interests. Transpaco group neither supports political parties nor contributes to the funds of groups whose activities are calculated to promote party interests.

The environment

Transpaco group is committed to making continuous improvements in the management of environmental impact and to the longer-term goal of developing a sustainable business. Transpaco group will work in partnership with others to promote environmental care, increase understanding of environmental issues and disseminate good practice.

Innovation

In our Transpaco will respect the concerns of our consumers and of society in regards to scientific innovation to meet consumer needs, and will work on the basis of sound science, applying rigorous standards of product safety.

Competition

Transpaco group believes in vigorous yet fair competition and supports the development of appropriate competition laws. Transpaco group companies and employees will conduct their operations in accordance with the principles of fair competition and all applicable regulations.

Business integrity

Transpaco group does not give or receive, whether directly or indirectly, bribes or other improper advantages for business or financial gain. No employee may offer, give or receive any gift or payment which is, or may be construed as being, a bribe. Any demand for, or offer of, a bribe must be rejected immediately and reported to management. Transpaco group accounting records and supporting documents must accurately describe and reflect the nature of the underlying transactions. No undisclosed or unrecorded account, fund or asset will be established or maintained.




Conflicts of interests

All Transpaco group employees are expected to avoid personal activities and financial interests which could conflict with their responsibilities to the company. Transpaco group employees must not seek gain for themselves or others through misuse of their positions. All employees of the Transpaco group will undertake not to engage in any criminal or fraudulent activity and will report any such activity of which they may be aware, under protection of the Protection of Disclosure Act.

Compliance - monitoring - reporting

Compliance with these principles is an essential element in business success. The Transpaco group board is responsible for ensuring these principles are communicated to, and understood and observed by, all employees. Day to day responsibility is delegated to all senior management of the operating companies. They are responsible for implementing these principles, if necessary through more detailed guidance tailored to local needs. Assurance of compliance is given and monitored each year. Compliance with the code is subject to review by the board supported by the audit committee of the board and the Transpaco group executive committee. Any breaches of the code must be reported in accordance with the procedures specified by the joint secretaries. The board of Transpaco group will not criticise management for any loss of business resulting from adherence to these principles and other mandatory policies and instructions. The board of Transpaco group expects employees to bring to their attention, or to that of senior management, any breach or suspected breach of these principles. Provision has been made for employees to be able to report in confidence and no employee will suffer as a consequence of doing so.



In this code the expressions Transpaco group and 'Transpaco group companies' are used for convenience and mean the Transpaco group of companies comprising Transpaco Admin & Financial Services (Pty) Ltd, Transpaco Flexibles (Pty) Ltd, Transpaco Flexibles Mpumalanga (Pty) Ltd, Transpaco Cores (Pty) Ltd, Transpaco Packaging (Pty) Ltd, Transpaco Recycling (Pty) Ltd, Transpaco Polymer Recyclers (Pty) Ltd, Transpaco Specialised Film (Pty) Ltd, Transpaco Sheet Extrusion (Pty) Ltd and Britepak (Pty) Ltd, Transpaco Cores and Tubes (Pty) Ltd