The group has established the following committees, effective from admission:

  1. Audit committee
  2. Joint Remuneration and nominations committee

All committees will consist solely of non-executive directors.

The audit committee will be chaired by Barrie Clapham.

The audit committee will meet at least three times per annum and will be responsible for ensuring that appropriate financial reporting procedures are properly maintained and reported on and for meetings with the Group’s auditors and reviewing their reports on the accounts and the Group’s internal controls.

The joint remuneration and nominations committee will be chaired by Liz Kynoch.

The joint remuneration and nominations committee will meet at least twice a year and will be responsible for reviewing the performance of the executive Directors, setting their remuneration, determining the payment of bonuses, considering the grant of options under any share option scheme (LTIP or other schemes) and, in particular, the price per share and the application of performance criteria which may apply to such grants.

The committee will also be responsible for leading the process of board appointments and making recommendations to the Board in this regard.