Corporate Governance

Corporate Governance

The Chief Executive Officer is responsible to the Board for the day-to-day management of the Company.
The Board currently comprises the non-executive Chairman, the Chief Executive Officer, Finance Director and five non-executive directors.  The Board considers all non-executive directors capable of exercising independent judgement.  Enhanced and effective governance is achieved by the separation of the roles of Chairman and Chief Executive Officer.

There are no corporate governance regimes applicable to companies incorporated in the Isle of Man. However, the Directors recognise the importance of sound corporate governance and intend that the Group will comply with the main provisions of the QCA Guidelines insofar as they are appropriate given the Group's size and stage of development.

The Board is responsible for formulating, reviewing and approving the Group's strategy, budgets and corporate actions. The Directors intend to hold Board meetings at least quarterly and at other times as and when required. The Board has established an audit committee, nomination committee, remuneration committee and a health and safety and risk committee.

Click here for Terms of reference for the audit committee

Click here for Terms of reference for the remuneration committee

Click here for Terms of reference for the nomination committee

Click here for Terms of reference for the health and safety and risk committee

Share Dealings

The Directors intend to comply with Rule 21 of the AIM Rules relating to share dealings by directors of the Company and will take all reasonable steps to ensure compliance with Rule 21 by the Company's applicable employees.

The Company has adopted a share dealing code for its directors, officers and employees to facilitate compliance with Rule 21.