The Board intends to comply with the principles of good governance and the recommendations of best practice as set out in the Combined Code so far as is practicable and appropriate for an AIM company of its size and, in this connection, the Board shall take into account guidance issued by the Quoted Companies Alliance.
The Board normally meets at least five times a year and is responsible for formulating, reviewing and approving strategy, budgets, significant capital expenditure and senior personnel appointments. The Board comprises a Non- Executive Chairman, two Non-Executive Directors and two Executive Directors. The Non-Executive Directors and Chairman are independent of the executive management.
The Executive Directors and the subsidiary’s senior management meet regularly to review and consider operational matters.
Following admission to AIM, the Directors established an audit committee and a remuneration committee, each of which operates within defined terms of reference. The audit committee meets at least twice a year, whilst the remuneration committee meets at least once.