Rule 26 Corporate Governance Disclosure
The Directors are committed to maintaining the highest standards of corporate governance commensurate with the size, stage of development and financial status of Ormonde and its subsidiaries. A description of corporate governance matters is routinely contained within the Company’s annual reports and website. However, a change to the London Stock Exchange’s AIM Rule 26 requires that, as of 28 September 2018, each AIM company must include on its website details of a recognised corporate governance code that the board of directors has decided to apply, how the company complies with that code, and where it departs from its chosen corporate governance code an explanation of the reasons for doing so.
Your Board welcomes this regulatory change as an opportunity to communicate its governance arrangements to shareholders. We have selected to apply the Quoted Companies Alliance Corporate Governance Code (“the QCA Code”). The QCA Code is constructed around ten broad principles and a set of disclosures that focus on the pursuit of growth in the medium to long-term, and a dynamic management framework accompanied by good communication to promote confidence and build trust.
The table below sets out the principles and correct application of the QCA Code, and a description of how Ormonde’s corporate governance practices comply, and where they do not yet comply an explanation is given.
This disclosure was last reviewed and updated on 24 September 2018.