The Directors recognise the value of the Combined Code and endeavour to take appropriate measures to ensure that the Company complies with the Combined Code as soon as practicable and so far as possible, given The Group's size and nature of business.
The Board has established an audit committee and a remuneration committee, both of which have formally delegated duties and responsibilities.
The Audit Committee consists of Christopher Knight (Chairman) and Simon Wombwell, although the Finance Director and Chief Executive will normally also attend as invitees. It meets at least twice a year and is responsible for ensuring that the financial performance of the Group is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies.
The Remuneration Committee consists of Simon Wombwell (Chairman) and Christopher Knight, although the Finance Director and Chief Executive will normally also attend as invitees. It reviews the performance of the Executive Directors, considers and approves all Board and senior executive appointments, remuneration and benefits - including share options. The Board also reviews the level of fees paid to Non-executive Directors.
