Governance
AIM Nominated Advisor and Broker
Canaccord Adams Limited
Cardinal Place
7th Floor
80 Victoria Place
London SW1E 5JL
+44 (0)20 7050 6500
Corporate Governance
Protonex intends, where appropriate for a Company of its size, to comply with the main provisions of the principles of good governance and code of best practice set out in the Combined Code.
The Board includes three Executive Directors and four Non-executive Directors including Harry Fitzgibbons, who serves as Non-executive Chairman. The Board has identified that John Butt and Akbar Naderi, due to their interests in the shareholdings of Conduit Ventures and Parker Hannifin respectively, are not considered to be fully independent for the purposes of the Combined Code.
The Board has established Audit and Remuneration Committees. The Audit Committee is responsible for monitoring the quality of internal control and ensuring that the financial performance of the Company is properly measured and reported on and for reviewing reports from the Company’s auditors relating to the Company’s accounting and internal controls. The Audit Committee consists of Harry Fitzgibbons (as Chairman) and Akbar Naderi with assistance from John Connolly.
The Remuneration Committee is responsible for determining the terms and conditions of the service, including the remuneration and grant of options to Executive Directors under the Company’s Stock Option Plan. The Remuneration Committee consists of John Butt (Chairman) and Charles Holland with assistance from Scott Pearson.
The Directors will comply with Rule 21 of the AIM Rules relating to directors’ dealings as applicable to AIM companies and will take all proper and reasonable steps to ensure compliance by the Company’s applicable employees.
The Company has a Code of Ethics Policy outlined in its Employee Handbook which sets out the conduct expected of all Directors and employees. The conduct of the Company and its employees is to be in compliance with the laws and regulations relating to the Company’s business, and all personnel are expected to adhere to sound moral and ethical standards.