The Directors take account of the requirements of the QCA’s Corporate Governance Code for Small and Mid-Size Quoted Companies to the extent that they consider it appropriate and having regard to the Company’s size, board structure, stage of development and resources.
The Board consist of three directors, in accordance with Corporate Governance Guidelines of the Quoted Companies Alliance.
The Company hold regular board meetings. The Directors are responsible for formulating, reviewing and approving the Company’s strategy, budget and major items of capital expenditure. The Directors have established an audit committee and a remuneration committee with formally delegated rules and responsibilities. Each of these committees meet as and when appropriate save in the case of the audit committee which meet at least twice each year.
The audit committee comprises of the non-executive/executive Directors and is chaired by Mrs. Pallavi Joshi Bakhru. Members are Mr Manjit Rajain and Dr Keith Hellawel. The audit committee, inter alia, determines and examines matters relating to the financial affairs of the Company including the terms of engagement of the Company’s auditors and, in consultation with the auditors, the scope of the audit. It receives and reviews reports from management and the Company’s auditors relating to the half yearly and annual accounts and the accounting and the internal control systems in use throughout the Company.
The remuneration committee comprises of the non-executive& executive Directors is chaired by Dr. Keith Hellawell. Members are Mr Manjit Rajain and Mrs. Pallavi Joshi Bakhru .The remuneration committee reviews and make recommendations in respect of the Directors’ remuneration and benefits packages, including share options and the terms of their appointment. The remuneration committee also makes recommendations to the Board concerning the allocation of share options to employees.
The Nomination committee comprises of the non-executive& executive Directors is chaired by Mr Manjit Rajain. Members are Dr. Keith Hellawell and Mrs. Pallavi Joshi Bakhru.