Corporate Governance

The Board is committed to the principles of good corporate governance and following its delisting and re-registration it voluntarily adopted the Wates Principles On Corporate Governance for Large Private Companies. The Code is publicly available on the Financial Reporting Council’s website at: https://www.frc.org.uk.

The Board provides leadership to the Group. The Board key actions and decisions such as Group Strategy and Management (including regular group performance management), Group Structure and Capital, Internal Controls and Risk Management, Approval of Significant Contracts and Corporate Actions, Key Communications, Board Membership and Related Appointments (including succession planning), Directors and Senior Management Remuneration, Corporate Governance, Key Group Policies and other significant matters (such as insurance). In addition, the Board considers strategy in depth as well as reviewing the strategic objectives of the Company at its Board meetings. 

All other authorities are delegated by the Board, supported by appropriate controls, to the Group Chief Executive, Group Chief Financial Officer and General Directors of the major operating Group companies. Good governance is taken seriously and the Board sets the tone and takes the lead to ensure that good practice flows throughout the Group.