It must be understood that the Rössing Pension Fund is administered independently from the Company by a legally constituted entity under a Board of Trustees in line with the Pension Fund Act no. 24 of 1956.
The Company has no direct mandate to decide on the affairs and operations of the RUL Pension Fund. The Company, as an employer, like the employees, has representation on the Board of
Trustees, through which its interests are expressed.
On the issue of the Rössing Pension Fund surplus, the Company is on record as being in support of a fair treatment approach to all interested and affected parties in relation to the surplus fund. This of course should be done in line with the provisions of the relevant legislation.
In the absence of a legal framework to govern the Rössing Pension Fund surplus the Company is amenable to decisions of the Board of Trustees.
Therefore, since the Board of Trustees took a decision not to distribute the surplus pending the review of the relevant legislation, the Company respects that and it remains committed to a
peaceful and lawful resolution of the issue.
MANAGER EXTERNAL AFFAIRS