The company recognises the importance of appropriate corporate governance controls and have implemented a corporate governance regime which closely follows the UK Model Code of Corporate Governance.
The Board currently consists of Six Directors.
There are Three Committees in operation, Audit, Remuneration and Nomination. Discussions within these three committees take place in accordance with the UK Companies Acts and the Company’s Articles of Association.
The Audit Committee
The Audit Committee comprises of Kurt Berger (CFO) and Nigel Oakes (Non-Exec Director)
The committees purpose is to provide arrangements for considering how to apply suitable financial reporting and integrity control principles, having regard to good corporate governance and maintaining an appropriate relationship with the Company’s auditors.
Reviewing the external Auditor’s terms of engagement including the appointment, reappointment or removal of the Auditor as appropriate.
Reviewing the external Auditor’s plan for the audit of the Company’s financial statements.
Reviewing the external Auditor’s quality control procedures.
Reviewing and monitoring the effectiveness of the external audit process and the external Auditor’s independence and objectivity.
Considering the scope of work undertaken by the Company’s internal audit department.
Reviewing reports on internal controls and reporting to the Board.
Recommending the re-appointment of the external Auditor.
The Nomination Committee
The Nomination Committee comprises of the following Board Members: Kurt Berger (CFO), Dr. Miriam Reif (Chief Medical Officer) and Nigel Oakes (Non-Executive Director).
The committee is in place for nominating candidates for office within the organisation.
All appointments to the Board and replacements of Directors take place in accordance with the Companies Acts and the Company’s Articles of Association.
The Remuneration Committee
The Remuneration Committee is made up of the following Board Members: David Campbell and Nigel Oakes (Non-Executive Director).
Established to ensure that remuneration arrangements support the strategic aims of a business and enable the recruitment, motivation and retention of senior executives while also complying with the requirements of regulation.