The Board recognises the importance of good corporate governance in the management of the Company and has adopted the Quoted Companies Alliance Corporate Governance Code.

Full details of the Company’s corporate governance practices are set out in the latest report and accounts and in the AIM Rule 26 section of the website.

Board Committees

The Board has referred certain responsibilities to the Board Committees set out below which operate within defined terms. The current composition and responsibility of Board Committees is as follows:

Audit and Risk Committee

The Audit and Risk Committee consists of the following individuals:

  • Richard Slape, Non-Executive Director and Committee Chair
  • Paul Mayland, Senior Independent Director
  • Simon Thomson, Non-Executive Chairman

The Audit and Risk Committee is primarily responsible for reviewing and reporting to the board on the audit plans of the external auditor, the Group’s overall framework for internal control over financial reporting, internal and risk management, the accounting policies and practices of the Group; and the annual and periodic financial reporting carried out by the Group.

The Audit & Risk Committee regularly reviews the independence and objectivity of the external auditor. The Committee believes that certain non-audit work may be carried out by the auditor and has adopted a policy on the independence and objectivity of the external auditor (PDF, 64KB).

Audit committee terms of reference (PDF, 60KB)

The Remuneration Committee consists of the following individuals:

  • Paul Mayland, Senior Independent Director and Committee Chair
  • Richard Slape, Non-Executive Director
  • Simon Thomson, Non-Executive Chairman

The principal role of the Remuneration Committee is to consider the remuneration of executive Directors. The Remuneration Committee sets the broad framework and reviews the recommendations of the Chief Executive Officer for salary adjustment and bonus payments for all other members of staff. It also administers and makes awards under the Long Term Incentive Plan and Share Incentive Plan.

Remuneration committee terms of reference [PDF, 57KB]

The Nomination Committee consists of the following individuals:

  • Simon Thomson, Non-Executive Chairman and Committee Chairman
  • Richard Slape, Non-Executive Director
  • Paul Mayland, Senior Independent Director

The Nomination Committee is primarily responsible for considering Board succession, reviewing the composition and structure of the Board and membership of Board committees and making recommendations on the appointment of additional directors.

Nomination committee terms of reference [PDF, 59KB]