In July 2003, the Financial Reporting Council published the Principles of Good Governance and the Code of Best Practice (“the Combined Code”). Since admission to AIM, Plant Health Care plc has taken note of the Combined Code and has applied its principles of corporate governance commensurate with the Company’s size, notwithstanding that the rules of the London Stock Exchange do not require companies that have securities traded on AIM to formally comply with the Combined Code.
The Board is accountable to the Company’s shareholders for good governance and the statement set out below describes how the principles identified in the Combined Code are applied.
BOARD COMPOSITION
The Board comprises a non-executive chairman, two executive directors and four other non-executive directors. The directors collectively possess a high level and range of business experience which is essential to oversee effectively a business of the size, complexity and geographical spread of the Group.