The Board comprises of five Directors, of which two are Executive Directors and three are Non-Executive Directors. The Board considers Jon Lee, Dino Rocos and Lucy Sharman-Munday to be independent Non-Executive Directors under the criteria identified in the QCA Code.

The Company holds regular board meetings, and the Board is responsible for formulating, reviewing and approving the Company’s strategy, budget and major items of capital expenditure. The Board has established an Audit Committee and a Remuneration Committee with formally delegated rules and responsibilities. Each of these board committees meets as and when appropriate, but at least twice each year.

The Audit Committee comprises of Lucy Sharman-Munday, who acts as chair, Jon Lee, and Dino Rocos. The Audit Committee will, among other things, determine and examine matters relating to the financial affairs of the Company including the terms of engagement of the Company’s auditors and, in consultation with the auditors, the scope of the audit. It receives and reviews reports from management and the Company’s auditors relating to the half yearly and annual accounts and the accounting and the internal control systems in use throughout the Company.

The Remuneration Committee comprises of Dino Rocos, who acts as chair, and Jon Lee and Lucy Sharman-Munday. The Remuneration Committee reviews and makes recommendations in respect of the Executive Directors’ remuneration and benefits packages, including share options and the terms of their appointment. The Remuneration Committee also makes recommendations to the board concerning the allocation of share options to employees under the intended share option schemes.