The Board
The Board of Directors consists of the Executive Chairman, Managing Director, Financial Director and an Independent Non Executive Director.
The Board approves the Company’s strategic plans, annual budgets, organisational and financial structure, material transactions, interim and preliminary announcements, annual reports and business developments.
The Board is responsible for the Company’s system of internal controls and risk management and for reviewing the effectiveness of the Company’s processes and procedures.
The Chairman is responsible for setting the agenda for the Board meeting and ensuring the directors are in possession of the relevant information to facilitate informed discussions and decision making.
The Company Secretary is responsible for advising the Board on correct procedural and governance matters.
The Company has established separate audit, remuneration and nomination committees detailed below, each with their own terms of reference available below. The committees will review the terms of reference and it’s own performance at least once per year and where appropriate recommend changes to the Board.
Audit Committee
The Audit committee comprises of the Chairman, Finance Director and Non Executive Director.
The Audit committee is responsible for ensuring that the financial performance and position of the Company are properly monitored and reported on as well as meeting the external auditors, reviewing the statements relating to interim and full year accounts, assessing and monitoring their independence and objectivity. In addition the Audit committee will review the performance and objectivity of the external auditors making recommendations on their appointment and re-appointment. The Audit committee also reviews the effectiveness of the internal controls and risk management systems.
Click Here for a copy of the Audit Committee terms of reference
Remuneration Committee
A Remuneration Committee has been established comprising the Chairman and Non Executive Director.
The Remuneration Committee reviews the performance of the Executive Directors and determines the Board policy for remuneration of the Executive Directors and Senior Executives. This includes the authorisation of the issuing of securities including options, setting of appropriate targets for bonuses and other benefits for all staff within the company.
Click Here for a copy of the Remuneration Committee terms of reference
Nomination Committee
The Company has a Nomination Committee comprising the Chairman and Non Executive Director. The Nomination Committee reviews the structure, size and composition of the Board, recommends changes as appropriate and considers succession planning. The Committee also identifies and nominates Board Candidates for approval by the Board.
Click Here for a copy of the Nomination Committee terms of reference
Page last updated: 3 March 2008