222 Armstrong Road, Luton
01582 346248
info@orchardfundinggroupplc.com
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Corporate Governance
Corporate Governance – Matters reserved for the board
Strategy
responsibility for direction of the group;
approval of strategic plan brought forward by the CEO;
approval of significant potential investments in other entities;
changes to the capital structure of the group.
Management
approval of the annual operating plan brought forward by the CEO;
approval of significant capital expenditure budgets;
oversight of general operations to ensure an adequate internal control system, good risk management and compliance with regulatory requirements;
Financial
approval of preliminary announcements of interim and final results;
approval of the annual report and accounts;
approval of any significant changes in accounting policies or practices.
Risk
responsibility for the maintenance and annual assessment of a system of internal control and risk management;
approving the group’s risk appetite, reviewing and approving any activities falling outside the approved risk appetite;
approval of the risk assessment and mitigation framework.
Board composition
approval of changes to the structure, size and composition of the board;
ensuring adequate succession planning for the board;
appointments to and removal from the board (including Chairman and CEO);
appointments to and removal from board committees;
appointment or removal of the Company Secretary.
Other
appointment, reappointment or removal of the external auditor (subject to confirmation at the AGM);
setting the remuneration policy for executive directors;
setting the remuneration of the non-executive directors.