The board recognises the importance of good corporate governance and has agreed to adopt the QCA (Quoted Companies Alliance) Corporate Governance Code. Our report sets out how we comply with the QCA Corporate Governance Code at this point in time. We will provide annual updates on our compliance with the code. A copy of the report on Corporate Governance can be found here.
The audit committee consists of Diana Dyer Bartlett (chairman) and Guy van Zwanenberg. The audit committee is charged with making recommendations to the board on the appointment of auditors and the audit fee, for reviewing the conduct and control of the annual audit and for reviewing the operation of the internal financial controls. It also has responsibility for reviewing financial statements prior to publication.
The remuneration committee consists of Guy van Zwanenberg (chairman) and Diana Dyer Bartlett. The remuneration committee reviews the performance of the executive directors, sets the scale and structure of their remuneration and the basis of their service agreements with due regard to the interests of shareholders and reviews and approves any proposed bonus entitlement. It will also determine the allocation of share options to employees. The company secretary attends the meetings of the remuneration committee as its secretary.
The nomination committee consists of Frank Beechinor (chairman), Diana Dyer Bartlett and Guy van Zwanenberg. The nomination committee makes recommendations to the board for all board appointments and succession planning.