Corporate governance

The Board is committed to effective corporate governance as the basis for delivering long-term value growth

  The Board is committed to effective corporate governance as the basis for delivering long-term value growth and for meeting shareholder expectations for proper leadership and oversight of the business.

  There is no corporate governance regime in the Isle of Man that applies to the Company. Directors of companies incorporated in the Isle of Man are required to comply with certain duties that are contained in the IOM Act, and the Directors comply with those duties.

  The Directors acknowledge the importance of the principles set out in the Corporate Governance Code. The Directors intend to apply the QCA Guidelines contained therein, as far as they consider appropriate for a company of its size and nature. The Board intends to meet regularly to consider strategy, performance and the framework of internal controls. To enable the Board to discharge its duties, all Directors will receive appropriate and timely information. Briefing papers will be distributed to all Directors in advance of Board meetings.

  All Directors will have access to the advice and services of the Chief Financial Officer, who will be responsible for ensuring that the Board procedures are followed and that applicable rules and regulations are complied with. In addition, procedures will be in place to enable the Directors to obtain independent professional advice in the furtherance of their duties, if necessary, at the Company’s expense.

Board Committees

01.

Audit Committee

The Audit Committee is chaired by Mark Kirkland, has primary responsibility for monitoring the quality of internal controls, ensuring that the financial performance of the Group is properly measured and reported on and reviewing reports from the Group’s auditors relating to the Group’s accounting and internal controls, in all cases having due regard to the interests of Shareholders.
The Audit Committee will meet at least once a year.
Gary Lamb will be the other member of the Audit Committee.

02.

Nominations Committee

The Nomination Committee is chaired by Gary Lamb, and identifies and nominates, for the approval of the Board, candidates to fill board vacancies as and when they arise. The Nomination Committee will meet as required.
Mark Kirkland is the other member of the Nomination Committee.

03.

Remuneration Committee

The Remuneration Committee, chaired by Gary Lamb as chairman, reviews the performance of the executive directors and determine their terms and conditions of service, including their remuneration and the grant of options, having due regard to the interests of Shareholders.
The Remuneration Committee will meet at least once a year.
Mark Kirkland and Richard Sells are the other members of the Remuneration Committee.

Strix Plc
Isle of Man, British Isles
+44 (0)1624 829 829
Mon-Fri, 8.00-17.00 (UK Time)
info@strix.com
Mon-Fri, 8.00-17.00 (UK Time)
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