The Board recognises the importance of sound corporate governance whilst taking into account the size and nature of the Group. As the Group grows, the Directors intend that the Company should develop policies and procedures, which reflect the Principles of Good Governance and Code of Best Practice, as published by the Committee on Corporate Governance (commonly known as the “Combined Code on Corporate Governance”) and which are appropriate for a Group of its size. The Board has taken such measures, so far as is practicable for a company of our size, to comply with the Combined Code.

Full details of how the Principles of Corporate Governance are applied with the Group can be found on pages 10 to 11 of our Annual Report.

Remuneration Committee

The remuneration committee members Mark Quartermaine (Chair), Paul Clifford and Colin Wells meet at least once per annum to determine the terms of employment and total remuneration of the Executive Directors, the granting of any share options and the administration of any incentive schemes.

The objective of this committee is to attract, retain and motivate executives capable of delivering the Company’s objectives.

Link to Terms of Reference of the Remuneration Committee

Audit Committee

The audit committee members Paul Clifford (Chair), Mark Quartermaine and Colin Wells meet at least twice per annum, being responsible for ensuring the integrity of the financial information reported to shareholders and the system of internal controls.

This committee provides an opportunity for reporting by the Company’s auditors. The Managing Director and Finance Director attend these meetings by invitation.

Link to Terms of Reference of the Audit Committee