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Corporate governance
The information in this part of the website is being disclosed for the purposes of Rule 26 of the AIM Rules for Companies.
The Directors have established an audit committee, a remuneration committee and a nominations committee with formally delegated rules and responsibilities. Each of the committees currently comprises the non-executive Directors and meets regularly and at least twice each year in respect of the audit committee and once a year in respect of each of the nomination committee and renumeration committee.
The audit committee meets at least twice each year and is responsible for ensuring that the financial performance of the Company is properly reported on and monitored and for meeting the auditors and reviewing the reports from the auditors relating to accounts and internal control systems. It meets once a year with the auditors without executive board members present. The audit committee comprises non-executive Directors of the Company and is chaired by Dave Cheeseman.
The remuneration committee reviews the performance of the executive Directors and sets and reviews the scale and structure of their remuneration and the basis of their remuneration and the terms of their service agreements with due regard to the interests of Shareholders. In determining the remuneration of executive Directors, the remuneration committee seeks to enable the Company to attract and retain executives of the highest calibre. The remuneration committee also makes recommendations to the Board concerning the allocation of share options to employees. No Director is permitted to participate in discussions or decisions concerning his own remuneration. The remuneration committee comprises the non-executive Directors and is chaired by Jean-Marc Bouhelier.
The nominations committee meets as required for the purpose of considering new or replacement appointments to the Board. The nominations committee comprises the non-executive Directors of the Company and is chaired by Jack Fryer.
Investor Relations section last updated 29th April 2008
