The Board ensures that the Group is managed for the long-term benefit of all shareholders with corporate governance being an essential part of this. It remains focused on activities where it can generate excellent returns with strong visibility. It is a leader in its primary activities, and it has an impressive track record of strengthening its market position.
Non-Executive Chair as 1 October 2021
The Board has adopted the Quoted Companies Alliance (QCA) Corporate Governance Code in line with the London Stock Exchange’s recent changes to the AIM Rules requiring all AIM-listed companies to adopt and comply with a recognised corporate governance code. Our report sets out in broad terms how we comply at this point in time. We will provide annual updates on our compliance with the Code.
The Company’s Audit Committee is responsible for monitoring the integrity of the financial statements of the Company, advising on appropriate accounting policies and reviewing management judgements. It is also responsible for reviewing effectiveness of internal control and approving the external audit plan and reviewing the effectiveness of the external auditor, PricewaterhouseCoopers LLP.
The Audit Committee consists of Susan Davy as Chair and the other independent Non-Executive Directors.
The Group’s Remuneration Committee is responsible for determining the remuneration policy for the Executive Directors and senior management, as well as its implementation over time, with the aim of ensuring that this supports the delivery of the Group’s strategy. The Committee is committed to adhering to good practice for executive pay and pay reporting, and to reflecting any changes which may be required as a result of changing regulation, legislation, or best practice.
The Remuneration Committee consists of Jamie Hopkins as Chair and the other independent Non-Executive Directors.
The principal responsibility of Restore’s Nomination Committee is to lead the process for Board appointments and to make recommendations for maintaining an appropriate balance of skills on the Board. The Board and Nomination Committee undertake regular assessments of management to ensure that they maintain a successful strategy in order that succession plans are in place.
The Nomination Committee consists of the Non-Executive Directors. The Committee is chaired by Sharon Baylay-Bell unless the matter under discussion is her own succession. It is also assisted by executive search consultants as and when required.