The Directors are committed to maintaining high standards of corporate governance, and propose, so far as is practicable given the Company’s size and nature, to comply with the QCA Code. Due to the size and nature of the Company, audit and risk management issues will be addressed by the Directors as a whole, rather than by separate committees. As the Company develops further, the Board will consider establishing separate audit and risk management committees and will consider developing further policies and procedures, which reflect the principles of good governance.
The Board includes one independent non-executive director, being Brent Fitzpatrick, MBE. Given the relatively small size of the Board, the Directors consider that the Board has the appropriate balance between executive and non-executive directors, and that this is sufficient for the Board to be considered independent as a whole. The Directors consider that this structure is appropriate for the size and nature of the Company, although this is kept under regular review.
Due to the current size of the board of directors, there are no committees, but the directors follow all relevant AQSE directions that the Remuneration and Audit Committees would undertake.