The Directors recognise the value and importance of high standards of corporate governance and intend, given the Company’s size and the constitution of the Board, to comply with the recommendations set out in the QCA Code.
Our Corporate Governance Statement can be viewed here
With effect from Admission, the Board has established an audit and risk committee and a remuneration committee with formally delegated responsibilities. Given the size of the Board, it does not intend to establish a separate nominations committee and recommendations for appointments to the Board will be considered by the Board as a whole after due evaluation.
The Remuneration Committee reviews the performance of the Executive Directors and makes recommendations to the Board on matters relating to their remuneration and terms of employment. The Remuneration Committee also makes 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 are set by the Board.
The Remuneration Committee comprises three Non-Executive Directors. The committee members are:
- Nancy Cruickshank (Chair)
- Adam Bellamy
- Jim Sharp
Audit & Risk Committee
The Audit and Risk Committee have 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 receives and reviews 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 and Risk Committee also advises the Board on the Group’s overall risk appetite and strategy including, inter alia, regularly reviewing and updating (if appropriate) the risk assessment processes in place, including in relation to remuneration and compliance functions, and assisting in overseeing implementation of the adopted strategy.
The Audit and Risk Committee meets at least twice a year and has unrestricted access to the Company’s auditors.
The Audit & Risk Committee comprises three Non-Executive Directors. The committee members are:
- Adam Bellamy (Chair)
- Nancy Cruickshank
- Jim Sharp