Board committees
The board has referred certain responsibilities to the board committees set out below and which operate within defined terms. The current composition of board committees is as follows:
| Committees |
Audit |
Remuneration |
Non-Executive Chairman
Professor Sir Andrew Likierman |
member |
NA |
Non-Executive Director
James R.C. Weir |
chair |
NA |
Non-Executive Director
David R. Thompson |
NA |
member |
Non-Executive Director
Anthony R. Amor |
NA |
chair |
Audit Committee
The company has established an audit committee, comprising two non-executive directors, being Jamie Weir and Sir Andrew Likierman. The audit committee is chaired by Jamie Weir and will meet at least twice each year. The audit committee is responsible for ensuring that appropriate financial reporting procedures are properly maintained and reported on and for meeting with the company’s auditors and reviewing their reports on its accounts and the company’s internal controls. The committee chairman will hold a casting vote.
Nomination Committee
At this stage in its development, the company has not established a nomination committee. However, it will keep this matter under review.
Remuneration Committee
The company has, in addition, established a remuneration committee, comprising two non-executive directors, being Tony Amor and David Thompson. The Remuneration Committee is chaired by Tony Amor. The remuneration committee is responsible for reviewing the performance of the executives, setting their remuneration, determining the payment of bonuses, considering the grant of options under any share option scheme and, in particular, the price per share and the application of performance standards, which may apply to any such grant. The committee chairman will hold a casting vote.
A full disclosure of board and functions can be found in the admission document.
This information is disclosed in accordance with Rule 26 of the AIM Rules (August 2007).
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