Corporate Governance Principles and Compliance Statement

The Board is committed to maintaining high standards of corporate governance and we support and apply the principles of good governance advocated by the UK Corporate Governance Code (the Code). The Board works with honesty and integrity which it considers is vital to building a sustainable business for all of our stakeholders. 

The Board believes that implementing a robust governance and corporate social responsibility framework in which appropriate management structures, processes and safeguards are adopted and are transparently communicated to shareholders is essential in aiding sustainable long-term economic performance.

Compliance with the UK Corporate Governance Code

The Board considers that it and the Company have, throughout the year ended 31 March 2015, complied with the provisions of the UK Corporate Governance Code (September 2012), which is the version of the Code which applies to the Company for its financial year. The application of the principles contained in the Code is described below.

Corporate Governance Structure

The Board is responsible to shareholders for the strategic direction of the Group and the stewardship of its activities.

The Board has a number of standing committees to which specific responsibilities have been delegated and for which written terms of reference have been agreed.

Corporate Governance StructureAnnual Report 2015