Investor Relations / Corporate Governance

Corporate Governance

The Board is responsible for formulating and approving the Group’s strategy, budgets and corporate actions.

The Articles of Association provide that Directors are subject to re-election at the first opportunity after their appointment and the Board will submit to re-election at intervals of three years, as required by the Articles.

The Directors acknowledge the importance of the Principles set out in The Combined Code issued by the Committee on Corporate Governance. Although the Combined Code is not compulsory for AIM listed companies, the Directors have applied the principles as far as practicable and appropriate for a relatively small public company as follows:

Audit Committee
The audit committee has primary responsibility for monitoring the quality of internal control and ensuring the financial performance of the Group is properly measured and reported on and for reviewing reports from the Group’s auditors relating to its accounting and internal controls, in all cases having due regard to the interests of Shareholders. The audit committee is chaired by Michael Hicks and its other member Antony Cowling.

Remuneration Committee
The remuneration committee determines the terms and conditions of the service of the executive directors, including their remuneration and grant of share incentive plans. The remuneration committee is chaired by Michael Hicks and its other member Antony Cowling.

AIM Compliance Committee
The AIM compliance committee monitors and reports on the Group’s compliance with the AIM Rules. It is chaired by Michael Hicks and its other members are Antony Cowling and David Scott.

Note:
The information on this page has been disclosed pursuant to Rule 26 of the AIM Rules for Companies