The Company has adopted the QCA Corporate Governance Code in line with the requirement for AIM quoted companies to adopt and comply with a recognised corporate governance code. Our statement of Compliance with the QCA Corporate Governance Code is available here: GRCI_QCA-Corporate-Governance-Code-Statement.pdf. The Company has reviewed its Corporate Governance Code Statement on 19 July 2022 and confirms no changes to our statement of Compliance with the QCA Corporate Governance Code since the last published edition
The Board comprises four Directors, two of whom are Executive Directors and two Non Executive Directors, reflecting a blend of different experiences and backgrounds as described on the ‘Board’ page of this website. The QCA Code states that a company should have at least two independent non executive directors. The Company only has one independent non executive director, being Richard Piper. The Board believes that the composition of the Board brings a desirable range of skills and experience in light of the Company’s challenges and opportunities, while at the same time ensuring that no individual (or a small group of individuals) can dominate the Board’s decision making. The Company will appraise the structure of the Board on an ongoing basis.
The Board intends to meet regularly to review, formulate and approve the Group’s strategy, budgets, corporate actions and oversee the Group’s progress towards its goals. The Company has established an Audit Committee, a Remuneration Committee and a Nomination Committee, each with formally delegated duties and responsibilities and with written terms of reference.
The Company will review its compliance with the recommendations of the QCA Code and, following Admission, report in its annual report and accounts and on its website where it complies and explain where it does not comply.