Leed Resouces plc - investing in natural resources


Corporate Governance

Leed Resources plc is not required to comply with the U.K. Corporate Governance Code on Corporate Governance. However the Board is committed to the highest standards of Corporate governance, and complies with the main principles of the U.K. Corporate Governance Code.

The U.K. Corporate Governance Code states that the board of directors of a UK public company should include a balance of Executive and Non-Executive Directors. Smaller UK public companies are advised to have at least two independent Non-Executive Directors. The Company will seek to make an appropriate independent non-executive appointment as it implements its Investing Policy.

The U.K. Corporate Governance Code further provides that a majority of Non-Executive Directors should be independent of management and free from any business or other relationship which could materially interfere with the exercise of their independent judgment.

Leed Resources plc is subject to the City Code on Takeovers and Mergers.

The Board intends to meet at least four times a year. At these meetings, the Board will review the Company’s long-term strategic direction and financial plans.

The Board has established an Audit Committee and a Remuneration Committee with formally delegated duties and responsibilities.

Remuneration Committee

The Board of Directors (the “Board”) of Leed Resources has established the Remuneration Committee of the Board (the “Remuneration Committee”) with the responsibility for reviewing the performance of the executive directors and for setting their remuneration and other terms of employment and for overseeing administration of the Company's share option schemes. Ian Gibbs is chairman of the Remuneration Committee.

Audit Committee

An Audit Committee of the Board (the “Audit Committee”) has been established and is responsible for monitoring the adequacy of the Group's internal controls, accounting policies and financial reporting and will provide a forum through which the Group's finance functions and auditors report to the non-executive directors. The Audit Committee will also meet with the auditors and review their reports relating to accounts and internal control systems.