Corporate Governance |
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The Directors recognize the importance of sound corporate governance and the guidelines set out in the Principles of Good Corporate Governance and Code of Best Practice (the “Combined Code”). The Directors intend to comply with the Combined Code so far as is appropriate having regard to its size and nature. The Board will take such measures so far as practicable to comply with the Combined Code. The Company has four nonexecutive Directors and one executive Director. The Board retains full and effective control over the Company. The Board meets quarterly at which financial and other reports are considered and, where appropriate, voted on.
Apart from regular meetings and periodic Board updates, additional meetings will be arranged when necessary to review strategy, planning, operational and financial performance, risk and capital expenditure and human resource and environmental management.
Where there is an equality of votes at a Directors meeting, the Chairman has a casting vote. The Board has two standing committees – the Audit Committee and Remuneration Committee. These Committees are made up exclusively of nonexecutive Directors. Meetings typically are held
immediately prior to the general Board meeting. |
