Corporate Governance
The governance section details how the Company has applied the principles set out in section 1 of the Combined Code and includes additional disclosures as to how the Company has complied with the detailed provisions of the Combined Code.
During the year, the Company complied with the provisions of the Combined Code with two exceptions. Following the retirement of James McNulty in September 2010, a senior independent director has yet to be appointed. Given the changes to the board this past year, it was agreed that no immediate appointment of a replacement would be made. For this reason we did not have a senior independent director for the full duration of the year in compliance with Combined Code provision A.3.3. The Chairman remained available for consultation with shareholders.
Combined Code provision A.6.1 requires an annual performance review of the board and its committees. A full, externally facilitated board evaluation is underway. However, following the changes to the board, the evaluation is taking place later than usual and the results of this evaluation will be available later in the year.
2011 Annual Report: HTML interactive | PDF download (3.5 MB)
2010 Annual Report: HTML interactive | PDF download (7.6 MB)
2009 Annual Report: HTML interactive | PDF download (3.3MB)