Committees

The Audit Committee,

The audit committee of the Company, is comprised of Lance J Baller and Dr. William D. Bellamy, and is chaired in the interim by Mr. Lance J Baller and will meet at least twice a year. The audit committee is responsible for ensuring that the Group’s financial performance is properly monitored, controlled and reported. It will also meet the auditors and review reports from the auditors relating to accounts and internal control systems. The audit committee will meet at least once a year with the auditors.

The committee is responsible for:

  • ensuring that the financial performance of the Group is properly monitored, controlled and reported on.

  • meeting the auditors and reviewing reports from the auditors relating to accounts and internal control systems.

The Remuneration Committee,

The remuneration committee (Compensation Committee) of the Company, is comprised of Mr. Lance J Baller and Dr. William D. Bellamy, and is chaired by Dr. William D. Bellamy and meets at least once a year. The remuneration committee will set and review the scale and structure of the executive directors’ remuneration packages, including share options and the terms of their service contracts. The remuneration and the terms and conditions of the non-executive directors will be determined by the chairman of the committee and the executive directors with due regard to the interests of the Shareholders and the performance of the Group. The remuneration committee will also make recommendations to the Board concerning the allocation of share options to employees

The committee is responsible for:

  • reviewing the performance of the executive Directors and setting the scale and structure of their remuneration with due regard to the interest of Shareholders.

  • reviewing the performance of the executive Directors and setting the scale and structure of their remuneration with due regard to the interest of Shareholders.

  • setting any performance criteria in relation to the exercise of options.

The Nomination Committee,

In light of the size of the Board, the Directors do not consider it necessary to establish a nomination committee; however, this will be kept under regular review.

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