As an AIM listed company, Kromek Group plc is not obliged and therefore does not comply with any specific corporate governance code; However, the Directors recognise the importance of sound corporate governance and intend to comply with the Corporate Governance Guidelines, to the extent appropriate for a company of its nature and size.
The Corporate Governance Guidelines were devised by the QCA, in consultation with a number of significant institutional small company investors, as an alternative corporate governance code applicable to AIM companies. An alternative code was proposed because the QCA considers the UK Corporate Governance Code to be inappropriate to many AIM companies.
The Corporate Governance Guidelines state that, “The purpose of good corporate governance is to ensure that the company is managed in an efficient, effective and entrepreneurial manner for the benefit of all shareholders over the longer term.”The Board of Directors will meet at least 4 times a year to review the Group’s strategy and oversee the Group’s progress towards its goals.
It has established Audit and Remuneration committees.