Stakeholder communications Policy
The Company acknowledges the importance of honest and open communication with its stakeholders and restates that it is committed to a proactive, open and transparent process in communication with its internal and external stakeholders.
The Board firmly believes that trust between the Unitrust and its stakeholders are a fundamental pillar of the organisation's operations and this trust is built on effective communication and the willingness to engage in dialogue. Its strong resolve is that effective communication is key to building the support, confidence and trust necessary to carry out the company's business.
The Company's success depends not only on high standards of performance and service delivery, but also on its ability to understand, influence, and manage the expectations of stakeholders.
Stakeholders' engagement is recognized as an essential tool for the practice of good corporate governance and this Stakeholder Communication Policy, (hereinafter referred to as “this Policy”) shall detail these communication principles.
Unitrust is aware of its responsibility to engage all stakeholders by conveying appropriate and accurate information in a timely manner. Through the implementation of this Policy, the Board demonstrates the company's commitment to engage in open, constructive, and continuous dialogue with its external stakeholders ensuring equitable treatment and mutual respect for all. The purpose of this policy is to clearly outline a framework that will facilitate the provision and exchange of information and instructions, while allowing all stakeholders to be properly informed of developments and so enable the organization to function effectively.
The provisions of this Policy shall apply to all directors, and employees of the company. Management is responsible for the implementation and monitoring of this policy
The Company has identified key groups of stakeholders as follows:
d. General listening and viewing public
e. Communities around the Company's operations
g. Federal, State and Local Governments
h. Vendors, Counterparties and Business partners
The Company furthers its commitment to open and honest communication through:
Internal Stakeholders - Within the Company, communication is made to all employees across the branches through informal and formal communication channels, with a focus to ensure that feedback mechanisms are in place to promote open and active dialogue. These communication channels include intranet sites, webinars, staff notices, newsletters, posters, and E-learning portals, to ensure employees understand the Company's aims and objectives and work to achieve these. This also provides a mechanism for knowledge exchange throughout the Company.
Shareholders and Potential Investors - the Company communicates with its shareholders and potential investors primarily through the following means:
a. Quarterly Board meetings
b. Annual General Meeting (AGM)/Extra Ordinary General Meetings
c. Annual Report.
External Stakeholders - The Company uses a range of media channels to communicate with its external stakeholders. These include face-to-face meetings and events as well as marketing materials such as brochures, and newsletters. The Company operates a proactive communications program to share information with the media and ensure we provide timely, accurate information about the Company's achievements, performance, and successes on the Company's websites and social media channels.
Plan: Consider stakeholder engagement and communication as an integral component of the Company's strategic planning and management process, and, in this regard, identify and assess stakeholders.
Engage: Facilitate stakeholder engagement through the provision of information and consultation, and thereby monitor and review engagement strategies to ensure their effectiveness.
Include- Carry out stakeholder engagement and communications activities inclusively and appropriately and thereby incorporate stakeholder feedback into the decision-making process.
Respond- Provide Information through communications channels and via formats that meet the needs of all stakeholders. Build and maintain relationships that lead to mutual trust and confidence.
Identify- Ensure that the Company is visible and identifiable to stakeholders and thereby create and maintain awareness and understanding of the Company's operations and activities.
Promote- Positively promote the Company and present information in a consistent, objective, positive manner to meet legal and regulatory responsibilities.
Efficiency - The company will engage the use of modern communication methods in a timely manner to convey its messages. It shall at all times ensure the timely response to information request by its stakeholders.
Transparency - Official communications shall be as transparent as possible while acknowledging discretion and confidentiality in certain circumstances. Accurate details shall be provided in official correspondence where necessary.
Proactive - Unitrust shall anticipate the information needs of its stakeholders based on evolving circumstances of the industry and shall endeavor to communicate important information concerning their affairs and transaction with the stakeholders whenever such information becomes available.
Clarity - Clear and concise messages should be sent on key policy issues once they emerge.
The Company should avoid verbose and obscure languages in its communication and shall ensure that its Communication processes is routed through the official communication channels. There should be well defined visual identity in the company's external communications.
The Managing Director/Chief Executive Officer is the chief spokesperson for the Company and will communicate with stakeholders as required and as prescribed by the Board. The Company's Management is responsible for implementing this policy and is expected to be professional in their approach in making it truly effective.