The Board evaluation occurs annually, whereby a questionnaire is completed by the Board members. It consists of sets of questions which reflect details of the Financial Reporting Council’s Guidelines on Board effectiveness. The criteria against which the Board collectively and individually is assessed, centres around scheduling, teamwork and relationships, responsibility for corporate governance, support of the Company’s strategy, Company performance, engagement with shareholders, and the individual’s skills and experience.

The aim of the Board evaluation is to review the effectiveness of the Board’s performance and assess its strengths as well as areas for development. The results of the evaluation process are collated by an independent party and reviewed. Recommendations are made based on the results which are discussed by the Board at one of their meetings. An action plan is then devised, and the progress is monitored throughout the year.

For information on the director’s obligations and responsibilities please refer to the ‘Memorandum on directors' continuing obligations and responsibilities under the Market Abuse Regulation and the AIM Rules