Corporate Governance
Although not required to make these disclosures, the Directors set out below the principles that they consider to be applicable to the Company.
The Board of Directors
From July 2023 the Board has comprised a non-executive Chairman, a Chief Executive and the Group Finance Director
The Board will keep the board structure under review.
The Board to review performance against pre-agreed budgets. The Board has a formal schedule of matters specifically reserved to it for decision covering overall strategy, acquisition and divestment policy, approval of budgets and major capital expenditure projects and general treasury and risk management policies. To enable the Board to discharge its duties, all Directors have full access to all relevant information and to the advice and services of the Company Secretary. The appointment and removal of the Company Secretary is a matter for the Board as a whole. In addition, the Directors may take independent professional advice in the furtherance of their duties, if necessary, at the Company’s expense. Any training necessary will be provided at the Company’s expense.
The Articles of Association provide that Directors will be subject to reelection at the first opportunity after their appointment and then submit to re-election at intervals of three years.
Internal Control
The Board has ultimate responsibility for the system of internal control operating throughout the Group and for reviewing its effectiveness.
No system of internal control can provide absolute assurance against material misstatement or loss. The Group’s system is designed to manage rather than eliminate the risk of failure to achieve business objectives and to provide the Board with reasonable assurance that potential problems will normally be prevented or will be detected in a timely manner for appropriate action.
Relations with Shareholders
Following the delisting of the company, the board has undertaken to maintain the investors section of this website and provide news of developments in the company's activities.
The Board also uses the Annual General Meeting to communicate with investors and welcomes their participation.
Health and Safety
A high standard of health and safety management is promoted at all levels within the Group. The Group’s health and safety approach is supported by training programmes at operating businesses, Group health and safety rules and monitoring and auditing to promote a high level of awareness and commitment. Site compliance with health and safety standards is monitored and reported on by external professionals.
