The Board is committed to maintaining high standards of corporate governance. To assist the Board in reporting to shareholders the Company has adopted the QCA Corporate Governance Code, which is widely recognised. The Board believes that the governance practices at Prospex are aligned with the ten principles of good governance set out in the Code, which are explained in the Company’s Corporate Governance Report. This report also explains some variations in Prospex’s adoption of the Code where they exist. To read Prospex’s Corporate Governance Report, please CLICK HERE.
Furthermore, as part of the Company’s Corporate Governance policy, the Board has established Audit and Remuneration Committees.
The Board is committed to creating value for shareholders; determining strategy, investment and acquisition policy; approving significant items of expenditure; and considering significant financing and legal matters.
The Board has referred certain responsibilities to the Board Committees, which operate within defined terms. The current composition and responsibility of Board Committees is as follows: