Committees

Audit Committee

The Audit Committee is presently comprised of three Non-Executive Directors and the chairman of the Audit Committee provides a report, as necessary, of every Audit Committee meeting at the next Board Meeting. 

The Audit Committee meets at least three times a year and has oversight responsibility for public reporting, overall good governance, risk assessment and the effectiveness of Company’s internal controls. The Audit Committee coordinates the annual audit and is responsible for its scope, cost effectiveness and the independence and objectivity of the auditors. 

The Audit Committee reports on the audit to the Board and makes a recommendation on the adoption of the interim and final results.

Other members of the Board, as well as the auditors, are invited to attend the Audit Committee meetings as and when appropriate.

 

Compensation Committee

There are presently three Non-Executive Directors on the Compensation Committee. The chairman of the Compensation Committee provides a report, as necessary, of each Compensation Committee meeting at the next Board Meeting. 

The Compensation Committee, meets at least three times a year and is responsible for considering the remuneration packages for executive Directors and the bonus and share option strategy for the Quadrise Group and making recommendations as appropriate. The Compensation Committee works within the framework of a Compensation Policy approved by the Board.

The Compensation Committee is also responsible for reviewing the performance of the executive Directors and ensuring that they are fairly and responsibly rewarded for their individual contributions to meeting the Quadrise Group’s previously agreed performance targets. The Committee’s scope extends to all remuneration of Directors including bonus and share options.

None of the Compensation Committee members has any day-to-day executive responsibility for running the Company and no Director participates in discussions about his own remuneration.

Nominations Committee

The Committee's principal responsibility is to evaluate the Board's requirements of directors and senior executives and to ensure that appropriate procedures are in place for their nomination, selection and succession.