Performance evaluation and re-election

During the year, Mr Brown, as Senior Independent Director, led an evaluation of the performance of the Chairman. He conducted this process through a series of interviews with other Board members and the Secretary, followed by a feedback session with the Chairman.

A formal evaluation of the effectiveness of the Board and individual Directors was led by the Chairman, who held one to one meetings with all Directors. These meetings gave the Chairman an opportunity to give specific feedback to Directors and were followed by a report back to, and discussion by, the full Board. Following this process, the Chairman has confirmed that the Directors standing for election at this year’s Annual General Meeting continue to perform effectively and to demonstrate commitment to their roles.

All Directors are subject to election by shareholders at the first Annual General Meeting following their appointment and, subject to satisfactory performance evaluation where appropriate, to re-election thereafter at intervals of no more than three years.