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Altron achieves compliance gold

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Allied Electronics (Altron), with interests across telecommunications,
multi-media, IT and power electronics, is the first company in South Africa
to be awarded a Gold certificate for corporate governance by Corporate
Governance Accreditation (CGA) – having achieved a score in excess of 80%.

The CGA award is a national independent measure of corporate governance that
recognises companies with positive governance practices while providing
assurance to stakeholders and investors.
"This is not only an improvement on Altron's Silver Award last year which
proves their commitment to improving on governance performance, but also
positions the company as an industry leader in achieving the first CGA gold
governance award in South Africa," says Jonathan Lewis, MD of CGA.
The CGA award utilises an auditing methodology and web-based toolkit,
supported by the Institute of Directors in Southern Africa (IoD), which
guides and assists companies in ensuring that they conform to best practice
governance standards. This enables the board and office bearers to be
continually apprised and fully informed of their duties and
responsibilities, provides a transparent window of assurance to all
shareholders and a significant benchmark for full corporate governance
accreditation.
Lewis remarks: "The verification process applies the recommendations and
guidelines of the Second King Report on Corporate Governance (King II), JSE
governance listing requirements and good practice standards providing a
comprehensive gap analysis of the level of progress achieved by the
accredited company. It also ensures that the benchmarking process takes
place against a standardised content."
According to Lewis the verification process assesses all areas of governance
including, board  and director-related issues, the role of chairman and
chief executive, board Committees, risk management, internal and external
audit; as well as the full spectrum of integrated sustainability issues
including environmental, social responsibility, ethics, diversity, broad
based BEE and HIV/Aids issues.
"The board and management of Altron should be congratulated on being the
first JSE-listed company to achieve a CGA Gold award. They have raised the
bar in governance and laid down the governance gauntlet to others in their
sector and on the main board," says Lewis.
Dr Bill Venter, chairman of the Altron Board, says: "Altron is delighted
with this award which, aside from confirming Altron's commitment to best
corporate governance practices, provides investors with the necessary
independent assurance and verification that Altron's business practices are
sustainable and in line with international best practices."