Corporate Governance

The UK Corporate Governance Code (the “Code”, formerly the “Combined Code”) sets out standards of good practice in relation to board leadership and effectiveness, remuneration, accountability, audit, risk management and relations with shareholders.

Whilst there is no obligation for AIM‑listed companies to comply fully with this Code, the Board endorses the principles of effective corporate governance and we are committed to maintaining the highest standards of ethics and professional competence. That said, the Directors do not consider that full compliance with every aspect of the Code is appropriate for our Group at this stage in its development. However, we shall keep the matter under review and continue to develop procedures and policies as the Group grows.

AIM Rule 26 | Articles of Association

 

Division of Responsibilities

There is a distinct and defined division of responsibilities between the Chairman and the Chief Executive Officer (CEO).

The Chairman is primarily responsible for the effective working of the Board in conjunction with management and the CEO for the operational management of the business and for the implementation of the strategy agreed by the Board.

Board of Directors

The principal duty of the Board is to represent and protect the interests of the Company’s shareholders.

The Board plays an important role in working with the executive management in each of our businesses to ensure that they are well governed, financially strong, and that we mitigate any risks that our managers identify. Your Board works hard to strike that essential balance between achieving our short‑term objectives and longer‑term growth and development. To this end, your Board has a policy to work closely with management in developing proposals on strategy for each of our businesses and for our Group as a whole.

The Board