The Board believes that an effective system of corporate governance, appropriate to the Company at its current size, assists its corporate aim of delivering shareholder value. The Board is mindful of its responsibilities to the Company’s shareholders and key stakeholders, and of the need to ensure that the Company has the right people, systems and processes in place to manage risk and deliver on the Group’s strategy.
Since February 2015, the Company has been a standard listed company on the Official List. A standard listing requires a company to comply with a minimum level of regulatory requirements, but does not require compliance with the super-equivalent provisions of the Listing Rules, which apply only to companies with a premium listing.
The UK Corporate Governance Code 2014 (the “2014 Code”) is applicable to all premium listed companies for reporting periods commencing prior to 17 June 2016 (the UK Corporate Governance Code 2016 being applicable for reporting periods commencing after that date). As a standard listed company, the Company is not required to comply with the 2014 Code but, insofar as is practicable, applies the ‘comply or explain’ principles of the 2014 Code as a smaller company.
The Board currently consists of the independent Non-Executive Chairman, three Executive Directors and two independent Non-Executive Directors.
Each Director has one vote. Resolutions are adopted by majority vote of those present and, if the votes are equal, the chairman of the meeting has a second, or deciding, vote. In accordance with the Company's articles of association, no Director shall vote or count in the quorum in relation to a resolution or a meeting of the Directors in respect of any contract or arrangement or other proposal whatsoever in which he has an interest which (together with any interest of a connected person) to his knowledge is a material interest.
Please click on the links below to view the Company's policies on the following:
Committee Terms of Reference
The Board has established an Audit Committee, a Remuneration Committee and a Nomination Committee. The terms of reference of each Committee can be downloaded below:
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