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Committees We have established an Audit Committee, a Remuneration Committee and a Nomination Committee. The Audit Committee comprises of our two independent Non-executive Directors and is responsible for ensuring that our financial performance is properly reported on and monitored, and for reviewing our internal control systems and the auditors' reports relating to our accounts. The Remuneration Committee comprises of our two independent Non-executive Directors and Mr. Feidakis, our Non-executive Chairman. It is responsible for determining and agreeing with the Board the framework for the remuneration of the Chief Executive Officer, all other executive Directors, the Company Secretary and such other members of the executive management as it is designated to consider. It is furthermore responsible for determining the total individual remuneration packages of each Director including, where appropriate, bonuses, incentive payments and share options. The Remuneration Committee will also liaise with the Nomination Committee to ensure that the remuneration of newly appointed executives is within our overall policy. The Nomination Committee comprises of our two independent Non-executive Directors and Mr. Feidakis, our Non-executive Chairman. It is responsible for reviewing the structure, size and composition of the Board, preparing a description of the role and capabilities required for a particular appointment and identifying and nominating candidates to fill any Board positions as and when they arise. The Company has adopted a share dealing code for Directors and relevant employees and will take proper steps to ensure compliance by the Directors and those employees. Please find below the Terms of Reference for each Committee. |
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