Code of Ethics

Our principles

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

Code of business principles

Standard of conduct

We conduct our operations with honesty, integrity and openness, and with respect for the human rights and interests of our employees. We shall similarly respect the legitimate interests of those with whom we have 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

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

Employees

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. We will recruit, employ and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. We are committed to the promotion of Equality as prescribed by the Employment Equity Act. We are committed to safe and healthy working conditions for all employees. We will not use any form of labour prohibited by South African law. We are committed to ongoing training in order to develop and enhance employee’s skills and capabilities. We respect 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. We 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. We will provide timely, regular and reliable information on our activities, structure, financial situation and performance to all shareholders.

Business partners

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

Community involvement

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

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 our 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 scientific innovation to meet consumer needs we will respect the concerns of our consumers and of society. We 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 our 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, Disaki Cores and Tubes (Pty) Ltd