Approval of minutes from previous meeting held on 10 January 2023. This appears to be the only other board meeting held during the 2023 financial year. Mr George Simango announced his resignation which caught the board by surprise. It is well known that no one is currently being groomed for this position. Mrs Lido expressed her outrage with the lack of succession planning. Due to capacity constraints within the board, it was communicated that the integrated report for the most recent financial year would not be prepared. They would resume with this practice in the following year. Jonathan Mpandeli has a longstanding relationship with Alta Ltd. He has been the supplier of safety equipment to the mine for the last 7 years, and his company continues as the preferred supplier for such items. Mr Mpandeli was invited to sit on the board about 3 years ago due to his experience in the platinum mining industry. He considers himself independent from Alta Ltd as he is not actively involved in the execution of the safety equipment contract in his capacity as a majority shareholder. It was noted as a general comment that the appointment of an additional board member might have to be considered as none of the current board members have more than two years of experience in the mining industry. The main cause of concern is the lack of knowledge of the regulatory environment within this industry. A comment was passed that Alta Ltd experienced on average 12% more losses from strike action than other players in the industry. This appeared to have resulted from infringements of the labor act on Alta Ltd's side. The human resources director was not in attendance and could not comment on the reasons why her department was not able to pre-empt such contraventions of the labor law. The state of "Force Majeure" was briefly mentioned, but Mr Wessels was not of the opinion that any further action was needed, even though the cash flow position was noted to be "very worrisome." Due to time constraints, risk management could not be discussed. Mr Wessels expressed his frustration as this was also the case in the previous meeting. Mr Wessels also expressed his concern with the current need for non-executive directors. There are currently only two independent non-executive directors and, therefore, insufficient members for sub-committees. Date of next meeting.20 July 2023 Required: 1.1 Identify and explain any suspected contraventions of the Code of Corporate Governance for South Africa (King III) by making use of the following table: (10 marks) 1.1.1) King III Contraventions 1.1.2) King III Requirements 1.2 Discuss the potential impact of the lack of succession planning and the appointment of an additional board member on corporate governance. (5 marks) 1.3 With reference to the "Force Majeure" clause and the cash flow position, evaluate the financial risk and its implications for corporate governance. (5 marks) 1.4 Discuss the significance of having independent non-executive directors and the potential risks associated with the current number of independent directors on the board. (5 marks) 1.5 Identify the key stakeholders affected by the strike actions and discuss their potential concerns and interests. (5 marks) 1.6 Suggest 5 possible risk management strategies that Alta Ltd could implement to mitigate the impact of labour law infringements and strike actions