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Corporate Governance


Here you will find information on our corporate governance structure.

The Board of Directors of Nasstar plc recognises the importance of, and is committed to achieving, high standards of corporate governance. The Board is responsible for managing the business of Nasstar plc on behalf of its shareholders and adheres to corporate governance standards to ensure accountability to the Group's shareholders.

Board Meetings The Board meets regularly throughout the year and all necessary information is supplied to the Directors on a timely basis to enable them to discharge their duties effectively. Additionally, special meetings take place when decisions are required outside of regular meetings. The Directors have established financial controls and reporting procedures which are considered appropriate given the size and structure of the Group. These controls will be reviewed regularly in light of the future growth and development of the Group and adjusted accordingly.

Share dealing code The Directors comply with Rule 21 of the AIM Rules for Companies relating to Directors' and applicable employees' dealings in the Company's securities Accordingly, the Company has adopted a share dealing code for directors and applicable employees and the Company takes all reasonable steps to ensure compliance by its directors and applicable employees with the provisions of the AIM Rules for Companies relating to dealing in securities.

Compliance with the Corporate Governance Code The Board follows the provisions of the UK Corporate Governance Code so far as is practicable and appropriate for a company of its size, stage of development and nature as a company whose securities are traded on AIM. The Board also aims to comply with the provisions of the QCA guidelines.

The Board comprises 2 Executive Directors and 5 Non-Executive Directors. The Board considers that Angus McCaffery, Mike Read and Nick Bate are independent within the meaning of the QCA Guidelines.

The Audit Committee The Audit Committee comprises Angus McCaffery and Mike Read is chaired by Nick Bate. The Audit Committee meets at least once a year. The Audit Committee reviews reports from management and from the Company's auditors relating to the interim and annual accounts and to the internal control procedures in place throughout the Group. The Audit Committee is responsible for ensuring that the financial performance of the Group is properly reported with particular regard to legal requirements, accounting standards and the AIM Rules for Companies. The ultimate responsibility for reviewing and approving the annual report and accounts and the half-yearly reports remains with the Board.

The Remuneration Committee The Remuneration Committee comprises Peter Daresbury, Nick Bate and Mike Read and is chaired by Angus McCaffery. It meets at least once a year. The Remuneration Committee is responsible for determining and reviewing the terms and conditions of service (including remuneration) and termination of executive directors and senior employees and the grant of options under the Company's share options scheme.

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