Corporate Governance

Although there are no specific governance rules in Guernsey, the Board recognizes the value of good governance and endeavors, following Admission, to comply with the provisions of the UK Corporate Governance Code so far as is practicable for a company of its size, stage of development and nature as a company whose securities are traded on AIM. In any event the Board intends to comply with the provisions of the QCA Guidelines.


The Board has established the following committees:

  • Audit Committee

An audit committee has been established by the Company to operate from Admission and will comprise Mr. Peter Jones and Mr. James Sutcliffe. The audit committee will be chaired by Mr. Peter Jones and will meet at least twice each year. The audit committee's responsibilities will include ensuring the appropriate financial reporting procedures are properly maintained and reported on, and for meeting with the Company's auditors and reviewing their reports and accounts and the Company's internal controls.

 

  • Remuneration Committee

The Company has established a remuneration committee, comprising Mr. Peter Jones and Mr. James Sutcliffe and Mr. Nikhil Gandhi. The remuneration committee's responsibilities will include reviewing the bonuses, determining at what point the Company should adopt any form of share option plan and the application of the performance standards which may apply to any grant.

 

  • Share Dealing Code

The Company has adopted a Share Dealing Code for the Board and employees with the terms of the policy. Both Mr. Peter Jones and Mr. James Sutcliffe, non-executive Directors of the company to be independent.