Committees

Audit Committee

The Committee comprises of two non-executive directors, Roger Lane-Smith and David Hansell.

The Committee meets twice during the year.

The external auditors have direct access to the Committee, without all of the Executive directors being present.

The Committee evaluates the Group’s risk profile and reviews the Group’s half year and full year financial statements. The Committee is responsible for recommendations for appointment, reappointment or removal of the external auditors. The auditors do not provide any other professional services to the Group other than audit assurance services in connection with the annual external audit of the Group. This arrangement has been reviewed by the Board and the Committee and is not considered to affect the auditors objectivity and independence.

The Committee and the Board have considered whether there is a need for an internal audit function and believes that the circumstances and size of the Group, make such a function unnecessary.

Remuneration Committee

The Committee comprises of two non-executive directors, Roger Lane-Smith and David Hansell.

The Committee aims to ensure that remuneration packages and service contracts are competitive and designed to retain, attract and motivate executive directors of the right calibre.

Nominations Committee

The whole Board considers the appointment of directors.