Corporate Governance

The directors believe as a Board that their principal function is to deliver sustainable wealth to the Group’s shareholders, and that this should be delivered within a framework of strong corporate governance compliance. The Board has continued to ensure that the Group applies the principles of good corporate governance, in so far as is practicable and appropriate for a public company of its size. The application of corporate governance procedures within the Group and the extent of compliance with the latest publication of the Combined Code 2008 (the “Combined Code”) is shown in the Corporate Governance section of the Investor Centre.

The Board

The board currently comprises a non-executive chairman (John Standen) non-executive director (Tim Ross), chief executive (Kevin Appleton) and group finance director (Alan Merrell). The board intends to appoint two additional Non-Executive Directors in the near future, in order to further broaden and strengthen the board’s range of skills and experience.

The Board directors provide the Group with experience and knowledge from a range of industry, financial and commercial backgrounds. This combination of skills and experience assists the Board in any decision making process and in the development of business strategy, allowing all directors to make a significant and individual contribution. Biographical details of each director, including current directorships held in other non-Group companies, are detailed in the Directors page.

Committees

Both the audit committee and remuneration committees are currently comprised of the non-executive Chairman and the non-executive director. Both members of the committees are considered to be independent by the Company and have the necessary accounting knowledge and resources to fulfil its duties competently. Both are members of audit committees with other listed.