Committees
The Board has specific Audit & Risk, Remuneration and Nomination Committees covering three of the areas of the Group’s operation which the Board views as having key importance to the Group’s stakeholders.
Each of these Committees have their own terms of reference which provide the necessary authorities for them to operate as they consider appropriate.
Audit and Risk Committee
The primary objective of the Audit and Risk Committee is to assist the Board in overseeing:-
The systems of internal control and external financial reporting of the Company and its subsidiaries (together, the “Group”). It performs this role by ensuring that:
- the external and internal audit arrangements are appropriate and effective;
- the compliance arrangements are appropriate and effective;
- fraud prevention and whistleblowing arrangements are established which minimise potential for fraud and financial impropriety; and
- the annual report and accounts, related internal control disclosures and any other publicly available financial information are reviewed and scrutinised.
Chairman
Dr David King
Members
Gerhard Seebauer
Frequency of Meetings
At least three meetings per annum in line with the Company’s financial reporting timetable.
Remuneration Committee
The Committee is a Board committee, to which is delegated the responsibility of advising the Board on developing an overall remuneration policy that is aligned with the business strategy and objectives, risk appetite, values and long term interests in the Group (defined below), recognising the interests of all stakeholders.
Chairman
Gerhard Seebauer
Members
Jonathan Moulds
Frequency of Meetings
At least two a year and as required.
Nominations Committee
The Committee is a Board committee, to which is delegated the responsibility to lead the process for Board appointments and to ensure that the Board and its committees have an appropriate balance of skills, experience, availability, independence and knowledge of the Company to enable them to discharge their respective responsibilities effectively.
Chairman
Gerhard Seebauer
Members
Dr David King
Jonathan Moulds
Frequency of Meetings
At least once a year and as required.
For further details of the Role of the Board and its members, together with details of our compliance, please view Corporate Governance.