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Corporate governance report

Redefine International is a UK-REIT with a premium listing on the Main Market of the LSE and a secondary listing on the “Real Estate – Real Estate Holding and Development” sector of the Main Board of the JSE. The Company was incorporated in the Isle of Man with registered number 111198C in 2004 and was re-registered under the Isle of Man Companies Act 2006 in December 2013, with registered number 010534V.

Click here to view the full corporate governance report as extracted from the 2016 Annual Report.

Remuneration policy

The Company, which is registered in the IOM, voluntarily reports on Directors' remuneration under the UK regulations of Schedule 8 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, as amended in August 2013 in order to provide transparency to our shareholders. The current remuneration policy was approved by 79.91% of shareholders at the 2017 AGM and took immediate effect.

Click here to view the full policy document.

Slavery and Human Trafficking Statement

Modern Slavery Act 2015 (the "Act")

In accordance with section 54 of the Modern Slavery Act 2015, every organisation which supplies goods or services and carries on a business in the UK, with a total annual turnover of £36m or more, is required to produce a slavery and trafficking statement each financial year advising of the steps taken to prevent modern slavery in its own business and supply chain.

This statement has been prepared and published in accordance with the Act and relates to the Company's financial year ended 31 August 2016.

Click here for the full statement.

Code of Ethics and Conduct for Suppliers

Redefine International P.L.C. is committed to ensuring adherence to the strictest standards of ethical conduct, fair dealing and integrity in its business practices. To this end the Company has adopted a Code of Ethics and Conduct to which all agents, suppliers of goods and services and employees thereof are expected to subscribe.

Click here for the full statement

Equal Opportunities Policy

As an equal opportunities employer, Redefine International will ensure that no job applicant or employee is discriminated against either directly or indirectly on any unlawful grounds.

It is the aim of the Group to manage diversity and acknowledge, accept and accommodate the differences between individuals. The Group strives to treat all employees, prospective employees, agents, contractors, tenants, and suppliers fairly and equally, regardless of their gender, age or race etc.

As vacancies arise the Company will seek to diversify its workforce to reflect the nature of the Company’s operations or the community in which it operates, but its prime responsibility will always be to select the best candidate.

We recognise our social and moral duty to employ people with disabilities and we will do all that is practicable to meet this responsibility. All employees are provided with a handbook outlining the Company’s policies, which are designed to encourage a pleasant working environment, free of discrimination, stress or bullying. Staff are covered for all UK statutory employee rights, including Human Rights.

Our Code of Ethics promotes honesty and integrity in business dealings and conduct befitting the reputation of the Company. Any instances of unethical behaviour or an abuse of the employee rights can be reported using the Whistleblowing Policy or to a line manager. Any breaches will lead to disciplinary proceedings and, if appropriate, disciplinary action. 

Health and Safety policy

H&S is the responsibility of the Board, with any concerns being reported to Directors on a quarterly basis or as appropriate. Redefine International is committed to complying with all Health and Safety legislation and regulations, maintaining a safe place of work for our tenants and our contractors, customers and employees within the Group.

UK Commercial

For the majority of the portfolio, H&S is the responsibility of each of the tenants. For the remaining properties, the managing agents undertake the responsibilities in respect of H&S under the direction of management. Assessment of the competency of the managing agent is undertaken before their appointment and monitoring of the agents is undertaken by way of quarterly reviews of the portfolio.

Where there are multi let properties which have communal areas requiring management, the appointed managing agent is responsible for ensuring all necessary audits and risk assessments are undertaken. The managing agent is responsible for ensuring any matters raised during the assessments are undertaken and where appropriate these are reported through to Redefine International.

UK Retail

Redefine International’s shopping centres promote good H&S practice to its staff, contractors, tenants and customers. All have an excellent record in this field. All H&S policies and procedures are reviewed annually by an independent specialist together with the on site staff under the direction of Redefine International.

The centre management teams ensure that the H&S management systems are consistent and practical at all levels and, above all, comply with H&S legislation.

Active policies and legislative compliance:

  • H&S policy;
  • annual H&S audits;
  • emergency and disaster plan;
  • fire safety reviews and spot checks carried out by the local fire service; and
  • policy reviews and advice on an ‘ad hoc’ basis.

Anti-bribery policy statement

The Company is committed to the highest possible values of integrity and responsibility in all of its business activities. In order to ensure our business is conducted in an honest and ethical manner the Company has a zero-tolerance policy to any form of bribery, whether direct or indirect, which will be applicable to all Directors of the Company, subsidiaries, associated companies, agents and employees thereof.

Click here to view the full statement.

Whistleblowing policy and procedure

Redefine International is committed to a culture of openness and believes that an important aspect of accountability and transparency is a mechanism to enable employees to raise concerns in a responsible and effective manner. Redefine International takes any misconduct or malpractice extremely seriously and encourages all those working on its behalf to disclose any information in good faith.

Click here to view the full policy.

Whistleblowing contact: Lisa Hibberd (Company Secretary)