Corporate Governance

As an AIM listed company, the Company is not required to comply with the UK Corporate Governance Code, however the Board supports the general principles therein.

The Board

The Board is responsible for creating value for shareholders, determining strategy, investment and acquisition policy, approving significant items of expenditure and consideration of significant financing and legal matters.

The Group is currently led and controlled by a Board consisting of six Directors. The Board considers that the majority of Directors are independent and that each has specific expertise and experience, materially enhancing knowledge, judgement and overall performance of the Board.
Click here to see the biographies of the Board of Directors.

Board Committees

The Board has referred certain responsibilities to the Board Committees set out below which operate within defined terms. The current composition of Board Committees is as follows:

    Committees
    Audit Nomination Remuneration
Andrew Lewis Director YES NO YES
James Pratt Director NO YES YES

Audit Committee

The purpose of the Audit Committee, which is chaired by Andrew Lewis, is to provide formal and transparent arrangements for considering how to apply the financial report and internal control principles set out in the Combined Code, and to maintain an appropriate relationship with the Company's auditors. The key terms are as follows:

Nomination Committee

The purpose of the Nomination Committee is to establish a formal, rigorous and transparent procedure for the appointment of new Directors to the Board. The key terms are as follows:

Remuneration Committee

The purpose of the Remuneration Committee, which is chaired by James Pratt, is to establish a formal and transparent procedure for developing policy on executive remuneration and to set the remuneration packages of individual full-time Executive Directors. The key terms are as follows: