Remuneration Committee
The Remuneration Committee assists the Board in determining its responsibilities in relation to remuneration, including making recommendations to the Board on the Company's policy on executive remuneration, determining the individual remuneration and benefits package of each of the executive directors and recommending and monitoring the remuneration of senior management below Board level. The Combined Code provides that the Remuneration Committee should consist of at least three members who are all independent non executive directors.
The membership of the Company's Remuneration Committee comprises four Non Executive Directors (namely Lord Peter Daresbury, Steve Oke and Toktarkhan Kozhagapanov). The Chairman of the Remuneration Committee is David Netherway. The Company therefore considers that it complies with the Combined Code recommendations regarding the composition of the Remuneration Committee.
The Remuneration Committee will meet formally at least twice a year and otherwise as required.