THE COMPANY IS CONTINUALLY DEVELOPING APPROPRIATE CORPORATE GOVERNANCE PROCEDURES RELEVANT TO THE SIZE AND STAGE OF ITS DEVELOPMENT. THE COMPANY COMPLIES WITH THE QUOTED COMPANIES ALLIANCE CORPORATE GOVERNANCE CODE 2018.
The Company’s corporate governance statement and disclosures of compliance with the Quoted Companies Alliance Corporate Governance Code can be downloaded below. The Board recognised its responsibilities for the proper management of the Company and is committed to maintaining a high standard of corporate governance commensurate with the size and nature of the Company and the interests of its shareholders.
Download our Quoted Companies Alliance Corporate Governance Code 2023 statement
THE BOARD OF DIRECTORS COMPRISES FIVE MEMBERS: THE EXECUTIVE CHAIRMAN, THREE INDEPENDENT NON-EXECUTIVE DIRECTORS AND ONE NON-EXECUTIVE DIRECTOR.
James Parsons, Executive Chairman, has over 20 years of experience in the fields of strategy, management, finance, and corporate development in the energy industry. Marco Fumagalli, Non Executive Director, is Managing Partner at Continental Investment Partners SA, a Swiss-based fund. Stephen Birrell, Independent Non-Executive Director, has worked in the upstream oil and gas industry for over 35 years with a particular focus on gas developments across multiple jurisdictions. Naheed Memon, Independent Non-Executive Director, has worked extensively across the private and public sector. Tom Richardson, Independent Non-Executive Director, is an experienced Director of listed companies. The structure of the Board ensures that no one individual or Group dominates the decision-making process.
More detail in respect of the Board, its Committees and overall governance is detailed in the Companies QCA statement.
THE DIRECTORS ACKNOWLEDGE THEIR RESPONSIBILITY FOR THE COMPANY’S SYSTEM OF INTERNAL CONTROLS AND FOR REVIEWING THEIR EFFECTIVENESS.
These internal controls are designed to safeguard the assets of the Company and to ensure the reliability of financial information for external publication. Since the Company was formed, the Directors have been satisfied that, given the current size and activities of the Company, adequate internal controls have been established. Whilst they are aware that no system can provide absolute assurance against material misstatement or loss, in light of increased activity and further development of the Company, continuing reviews of internal controls will be undertaken to ensure that they are adequate and effective.
The Company recognises its role as a mining and exploration company and is aware of the potential impact that its subsidiary company may have on the environment. The Company ensures that its subsidiary companies comply with the local regulatory requirements with regard to the environment.
THE BOARD ATTACHES GREAT IMPORTANCE TO MAINTAINING GOOD RELATIONSHIPS WITH ITS SHAREHOLDERS.
Extensive information about the Company’s activities is included in the Annual Report and accounts will be sent to all shareholders. Market sensitive information is regularly released to all shareholders concurrently in accordance with the AIM Rules for Companies. The AGM will provide an opportunity for all shareholders to communicate with and to question the Board on any aspect of the Group’s activities. The Company maintains a corporate website coroenergyplc.com where information on the Company is regularly updated and all announcements are posted. The Company welcomes communication from both its private and institutional shareholders.