The Directors recognise the value and importance of high standards of corporate governance and have formally agreed to adopt the Quoted Companies Alliance (“QCA”) Corporate Governance Code in line with the London Stock Exchange’s changes to the AIM Rules.
Read more about our QCA code compliance here.
The Board will be responsible for the overall management of the Group including the formulation and approval of the Group’s long term objectives and strategy, the approval of budgets, the oversight of Group operations, the maintenance of sound internal control and risk management systems and the implementation of Group strategy, policies and plans. While the Board may delegate specific responsibilities, there will be a formal schedule of matters specifically reserved for decision by the Board. Such reserved matters will include, amongst other things, approval of significant capital expenditure, material business contracts and major corporate transactions. The Board will meet regularly to review performance.
To view committee membership please view the Board of Directors page.
The Audit Committee is chaired by Mark Reilly. Its other member is Roger Faxon. The Audit Committee has primary responsibility for monitoring the quality of internal controls and ensuring that the financial performance of the Company is properly measured and reported on. It will receive and review reports from the Company’s management and auditors relating to the interim and annual accounts and the accounting and internal control systems in use throughout the Group. The Audit Committee will meet at least twice a year and will have unrestricted access to the Company’s auditors.
The Remuneration Committee is chaired by John Pearson. Its other members are Mark Reilly and Alastair Kilgour. The Remuneration Committee reviews the performance of the Executive Directors and make recommendations to the Board on matters relating to their remuneration and terms of employment. The Remuneration Committee will also make recommendations to the Board on proposals for the granting of share options and other equity incentives pursuant to any share option scheme or equity incentive scheme in operation from time to time. The remuneration and terms and conditions of appointment of the non-executive directors of the Company will be set by the Board.