Directors' responsibilities

The directors prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Company and the Group as at the end of the financial period and the profit or loss of the Group for the period.

In preparing those financial statements, the directors:

• Select suitable accounting policies and then apply them consistently;
• Make judgements and estimates that are reasonable and prudent;
• State whether applicable accounting standards have been followed; and
• Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company, and the Group, and to enable them to ensure that the financial statements comply with IFRS.

They are also responsible for safeguarding the assets of the Group and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Board committees

Audit Committee
The Audit Committee is comprised is comprised of the following members. The Audit Committee meetings take place two times a year.

The main functions of the committee are to review and recommend the release of the half year and full year financial statements of the Company to the full board of CRC.

The Audit Committee is comprised of the following members:

• Maritz Smith - Director
• Bruno Collins - Non-Executive Director

Executive Committee
The Executive Committee meetings take place as required and the decisions are then distributed to the full board for ratification.

The main functions of the committee are to make executive day to day operating decisions without having to convene a meeting of the entire board.

The Executive Committee is comprised of the directors required depending on the nature of decision taken.