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The Directors recognise the value of the UK Corporate Governance Code. The Company endeavours to comply with the UK Corporate Governance Code, however, given its size and nature, it does not seek to comply with those aspects of the UK Corporate Governance Code which are considered to be more appropriate for a larger public company with shares admitted to the Official List. The Company seeks to follow the recommendations on corporate governance of the Quoted Companies Alliance for companies whose shares are traded on AIM.
The Board’s principal responsibilities are to provide the overall vision and leadership for the Company, maintain reliable systems of control and deliver shareholder value. It determines corporate strategy, reviews the Group’s operating and financial performance to ensure it is effectively controlled, and is the primary decision-maker for all matters considered to be significant to the Group as a whole. A schedule of those matters reserved for the Board can be viewed here.
The Board has established an audit committee and a remuneration committee with formally delegated duties and responsibilities.
The audit committee receives and reviews reports from management and the Company's auditors relating to the annual and interim accounts and the accounting and internal control systems in use throughout the Group.
The terms of reference of the Audit Committee can be viewed here
The remuneration committee reviews the scale and structure of the Executive Directors and senior managers' remuneration and the terms of their service contracts.
The remuneration and terms and conditions of appointment for the Non-Executive Directors is set by the Board.
The terms of reference of the Remuneration Committee can be viewed here
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