Introduction to Governance

The Group continues to implement a robust governance structure to ensure compliance with the Code.

Key elements include:

  • the Board comprises a majority of independent Non-Executive Directors, of which there are three, including myself as Non-Executive Chairman (deemed independent on appointment), and two Executive Directors;

  • each Non-Executive Director has a proven track record in business at a high level and has good retail and leisure sector skills and experience that are highly relevant;

  • the Board and its sub-committees are structured in accordance with the requirements for a listed company with both the Audit and Remuneration Committees fully comprising Non-Executive Directors. The Non-Executive Directors provide critical challenge and support to those areas of the Group which they believe are of particular importance;

  • regular review of new developments in corporate governance best practice and consideration of how to apply them appropriately. The Board is regularly updated on corporate governance developments by the Company Secretary and when new or updated sections of the Code are released, it is normal practice to arrange for the Group’s corporate lawyer to present formally at a Board meeting and lead a discussion; and

  • an increased focus on increasing the level of the Board’s engagement and direction in corporate culture and workforce engagement, risk management and sustainability in acknowledgement of the extended responsibilities introduced by the UK Corporate Governance Code 2018.

Keith Edelman

16 October 2023

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