Corporate governance
The Company is controlled through the board of directors (the "Board") which currently comprises one executive and four non-executive directors.
A formal schedule of matters is reserved for consideration by the Board, which meets on a regular basis. The Board is responsible for overall group strategy, acquisition and investment policy, approval of major capital expenditure projects and consideration of significant financing matters. It reviews the strategic direction of individual subsidiaries, their annual budgets, their progress towards achievement of these budgets and their capital expenditure programmes.
Under Luxembourg law, a resolution is tabled at each annual general meeting of the company concerning the renewal of the respective mandates of the directors, the statutory auditor (commissaire aux comptes) and the independent auditor (réviseur d'enterprises) for a period ending at the next annual general meeting of the company.
All directors are able to take independent professional advice in the furtherance of their duties if necessary. The directors receive training and advice on their responsibilities as necessary.
The directors recognise the importance of sound corporate governance commensurate with the status of the Company as admitted to trading on AIM, as well as taking into account the interests of its shareholders.
