Rewarding performance.

As an AIM-listed entity, the Group is not required to comply with Schedule 8 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 as amended, nor the principles in respect of Directors’ remuneration in the UK Corporate Governance Code 2018. Nevertheless, the Board recognises the importance of providing shareholders with appropriate information with respect to Executive remuneration and has followed the guidance contained in the Quoted Companies Alliance Remuneration Committee Guide.

Remuneration policy

The Group’s remuneration principles are as follows:

  • remuneration structures should be appropriate to the business, efficient and cost effective in delivery;
  • complexity is discouraged in favour of simple and understandable remuneration structures;
  • remuneration structures should seek to align executive and shareholder interests including through a meaningful level of personal shareholding;
  • remuneration structures should promote long-term focus through features such as deferral and measuring performance over the long term;
  • structures should include performance adjustments (malus) and/or clawback provisions;
  • pay should be aligned to the long-term sustainable success and the desired corporate culture throughout the organisation with increases in base salary of Executives being aligned to those of the wider workforce; and
  • the Remuneration Committee should ensure that rewards properly reflect business performance.