Company - Corporate Governance
The Board supports the Combined Code guidelines regarding good governance and will maintain three standing sub- committees, considering the current size of the Company and the Shareholders. As the Company grows the Directors intend that it will develop policies and procedures which reflect the Combined Code.
Board of Directors
The Board is responsible for formulation and approval of the strategic direction objectives and goals of the Company and guiding management in the implementation of this strategy for the benefit of shareholders.
The Board comprises three Executive Directors, John Horsburgh, John Sutcliffe and Grahame Hamilton; and two Non-Executive Directors, Roger Thomson and Ray Angus, which the Board believes provides an appropriate mix to conduct the company's business.
The Chairman of the Board is an Executive Director of the Board and he consults regularly with the Managing Director.
Committees
- Audit Committee: consisting of Grahame Hamilton and Roger Thomson (Chairman).
- Remuneration Committee: consisting of John Horsburgh and Roger Thomson.
- Nomination Committee: consisting of John Horsburgh and Roger Thomson.
No additional remuneration is paid for participation on these committees. The chairman for Remuneration Committee and Nomination Committee has yet to be selected.
Additional sub-committees of the Board may be formed from time to time for specific purposes and third parties may be invited to join the sub-committees, as ex officio members, where their particular expertise is considered desirable.