InvestorsCorporate Governance

 
The Board consists of the Chairman, Chief Executive Officer, Executive Directors and Non-Executive Directors. All Directors have access to the advice and services of the Company Secretary and the Group's professional advisers. Philip Loader and George Canjar are independent Directors.

 
The purpose of the Remuneration Committee is to make recommendations to the Board on an overall remuneration policy for Excecutive Directors and other senior executives in order to retain, attract and motivate high quality executives capable of achieving the Group's objectives.
Further its serves the purpose of demonstrating to shareholders that the remuneration of the Executive Dircetors for the Group is set by a committee whose members have no personal interest in the outcome of their decision, and who will have due regard to the interests of the shareholders.

 
This committee meets at least twice each year and at any other time when it is appropriate to consider and discuss audit and accounting related issues.
The audit committee is responsible for monitoring the quality of any internal controls and for ensuring that the financial performance of the Group is properly monitored, controlled and reported on. It also meets the Group's auditors and reviews reports from the auditors relating to accounts and any internal control systems.

 
The committee is responsible for reviewing the structure, size and composition of the Board, preparing a description of the role and capabilities required for a particular appointment and identifying and nominating candidates to fill Board positions, as and when they arise.

 
Directors plan to meet with the Group's institutional shareholders following the announcement of interim and final results and at other appropriate times. The Directors are also in regular contact with stockbrokers' analysts.

 
The system of internal control is designed to safeguard the Company's assets and interests and to help ensure accurate reporting and to help ensure compliance with applicable laws and regulation.
Despite the inherent of certain limitations in any system of internal control the Board considers that the Company's existing systems operated effectively throughout the year.