The Board is responsible for formulating, reviewing and approving the Company’s strategies, budgets and corporate actions.
The Directors have responsibility for, and recognise the importance of implementing and maintaining, high standards of corporate governance, and intend that the company will comply with the Combined Code and the Quoted Companies Alliance’s ‘Guidance for Smaller Quoted Companies’ in such respects as are appropriate for a company of its size, nature and stage of development.
The Company operates a share dealing code for Directors as required by the AIM Rules.
The Board intends to regularly review key business and financial risks facing the Company in the operation of its business.
The Audit Committee consists of Graham Parr and William Henbrey (Chair). The Committee meets at least twice a year and more frequently if required. The Committee is responsible for monitoring the quality of internal controls, ensuring the financial performance of the Company is being properly measured and reported on, meeting with the auditors and reviewing reports from the auditors relating to accounting and internal controls.
The Remuneration Committee consists of Graham Parr (Chair) and William Henbrey. The Committee reviews the performance of the Executive Directors, sets the scale and structure of their remuneration and reviews the basis of their service agreements with due regard to the interests of the shareholders. The Remuneration Committee will also make recommendations concerning the allocation of share options to Directors and employees, if appropriate. No Director is permitted to participate in discussions concerning their own remuneration. The remuneration and terms of appointment of Non-Executive Directors are set by the Board as a whole.