Regulatory Compliance (AQSE)
As an issuer on the AQSE Growth Market, the Company is required to adopt and report against a recognised corporate governance code. The Directors (the “Directors” and together the “Board”) fully acknowledge the importance of maintaining high standards of governance in line with AQSE expectations.
The Board has chosen to apply the Quoted Companies Alliance (QCA) Corporate Governance Code—previously the 2018 edition, and now the updated 2023 version—as it provides a proportionate and effective governance framework for a small, publicly traded company at this stage of development.
Board Responsibilities
In accordance with AQSE requirements, the Board will meet regularly and will be responsible for:
- Setting and overseeing the Company’s strategy
- Monitoring operational and financial performance
- Approving major capital expenditure and key commercial decisions
- Ensuring the effectiveness of the Company’s internal controls and risk management
- Approving matters reserved specifically for Board decision, including:
- Major corporate transactions
- Strategic and policy matters
- Management structure and key appointments
- Financing and capital allocation
The Board places significant emphasis on maintaining a strong, transparent, and responsible control environment consistent with AQSE governance principles.
Internal Financial Controls
To meet AQSE governance expectations, the Board intends to maintain robust internal financial control procedures, including:
- Preparation of regular consolidated management information, at least on a half-yearly basis.
- Establishment of a monthly management reporting process to enable the Board to monitor performance closely.
- Adoption and review of a comprehensive annual budget, with monthly results assessed against budget and any variances closely analysed.
- Continuous identification and oversight of the Company’s principal business risks, along with appropriate mitigation plans.
The Board recognises that internal financial controls provide reasonable, not absolute, assurance against material misstatement or loss. As the Company evolves, the Board will conduct ongoing reviews of these controls to ensure they remain appropriate for an AQSE-quoted company.
To ensure effective governance and decision-making, all Directors will receive timely, accurate, and relevant information regarding the Company’s affairs.