Corporate Governance

Introduction to our corporate governance

The Board recognises the importance of sound corporate governance and has adopted the Corporate Governance Guidelines for Smaller Quoted Companies published in 2018 by the Quoted Companies Alliance (the “QCA Code”). The Directors anticipate that whilst the Company will continue to comply with the QCA Code, given the Group’s size and plans for the future, it will also endeavour to have regard to the provisions of the UK Corporate Governance Code as best practice guidance to the extent appropriate for a company of its size and nature. Please find below a link to the 10 key governance principles as defined in the QCA Code alongside details of how TEAM plc addresses each of these principles.

The Quoted Company Alliance (QCA) Code

The Board recognises the importance of sound corporate governance and has adopted the Corporate Governance Guidelines for Smaller Quoted Companies published in 2018 by the Quoted Companies Alliance (the “QCA Code”). The Directors anticipate that whilst the Company will continue to comply with the QCA Code, given the Group’s size and plans for the future, it will also endeavour to have regard to the provisions of the UK Corporate Governance Code as best practice guidance to the extent appropriate for a company of its size and nature. Attached are the 10 key governance principles as defined in the QCA Code alongside details of how TEAM plc addresses each of these principles.

Audit and Risk Committee

The Audit and Risk committee is made up of the three Non-Executive Directors with Philip Taylor as Chair.

AUDIT – It is responsible for reviewing the Company’s arrangements with its external and internal auditors, including the cost effectiveness of the audit and the independence and objectivity of the auditors. It also reviews the application and appropriateness of the Company’s accounting policies, including any changes to financial reporting requirements brought about by both external and internal requirements and it gives consideration to all major financial announcements made by the Company including its interim and preliminary announcements and annual report and accounts.

RISK – It is responsible for advising the Board on risk appetite, tolerance and strategy, taking into account the current and prospective regulatory and market environment. The Committee maintains a constant review of both the Group’s overall risk assessment processes and the effectiveness of the Group’s internal controls and risk management systems.

Nominations Committee
The Nominations committee consists of the three Non-Executive Directors with David Turnbull as chair. It is the aim of the committee to identify and nominate potential candidates to fill Board vacancies; to consider succession planning and to consider appropriate training for the Board.
Remuneration Committee

The principal function of the Remuneration Committee is to determine the policy on Executive appointments and remuneration. The committee consists of the three Non-Executive Directors with Michael Grey as Chair. It is the aim of the committee to attract, retain and motivate high calibre individuals with a competitive remuneration package.

Remuneration Policy

Under the EU Sustainable Finance Disclosure Regulation we are required to publish our remuneration policy for TEAM Jersey.