Corporate Governance

The Directors recognise the value of good governance and intend to comply with the provisions of the QCA Guidelines insofar as possible for a company of the size and nature of the Company.

The Company has adopted a share dealing code for the Board and certain senior employees of the Group which is in conformity with the requirements of Rule 21 of the AIM Rules for Companies. The Company will take steps to ensure compliance by the Board and applicable employees with the terms of such code.

The Board is responsible for formulating, reviewing and approving the Group’s strategy, budgets and corporate actions. The Board intends to hold board meetings at least six times a year and at other times as and when required.

Audit committee

The audit committee comprises of Stephen Morana as Chairman and Michael Tobin and Paul Howard as members. The audit committee will meet at least twice each year and is responsible for ensuring that appropriate financial reporting procedures are properly maintained and reported on, and for meeting with the Company’s auditors and reviewing their reports and accounts and the Company’s internal controls.

Remuneration committee

The remuneration committee comprises of Michael Tobin as Chairman and Paul Howard as a member. The remuneration committee will meet at least twice each year and is responsible for reviewing the performance of the executive directors, setting their remuneration levels, determining the payment of bonuses and considering the grant of options under the share option schemes.

Nominations committee

The nominations committee comprises of Michael Tobin as Chairman and Stephen Morana and Andrew Walwyn as members. The nominations committee will meet at least once each year and is responsible for reviewing the structure, size and composition of the Board, succession planning and nominating candidates to fill board vacancies and evaluating the performance of the Board.

 

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Page last updated: 29 March 2017