Corporate Governance

Chairman’s statement

Since joining the Company in 2012 it has been my responsibility, as Chairman, to ensure that the Company has appropriate corporate governance arrangements in place and that those arrangements are effective and efficient through regular review. In 2013 the Company listed on AIM, and as a result I led the Board to establish corporate governance arrangements through the consideration of best practice guidelines and aspects of the UK Corporate Governance Code relevant to the Company. Prior to 2018, as an AIM-listed company, Frontier was not required to comply with a corporate governance code but we reviewed our arrangements against the Quoted Companies Alliance (QCA) Corporate Governance Code for Small and Mid-Sized Companies. The AIM rules changed in 2018 and as a result the Board has refined the Company’s corporate governance arrangements in order to follow the ten principles of the QCA Corporate Governance Code.

The Annual Report for 2019 is available here. The table below sets out the ten principles of the QCA Code and provides direction to the relevant section(s) in the Annual Report for each principle.

	QCA Code principle	Relevant section(s) of the 2019 Annual Report
1	A strategy and business model for long-term value creation	CEO Review (page 7) Strategic Review (pages 1–25)
2	Understand and meet shareholder needs and expectations	Investor relations – Corporate Governance Report (page 33)
3	Understand and meet wider stakeholder needs and social responsibilities	Strategy and business model – Strategic Review (pages 10–11) Corporate culture and social responsibility – Corporate Governance Report (page 33)
4	Embedded risk management	Strategy and business model – Strategic Review (pages 10–11) Risk Review (pages 20–21) Internal control and business risk – Corporate Governance Report (page 33)
5	A well-functioning and balanced Board	Board of Directors (pages 26–27) Board overview – Corporate Governance Report (pages 31–32)
6	Board experience, skills and capabilities	Board of Directors (pages 26–27) Board overview – Corporate Governance Report (pages 31–32)
7	Performance of the Board and continuous improvement	Board overview – Corporate Governance Report (pages 31–32)
8	Corporate culture based on ethical values and behaviours	Corporate culture and social responsibility – Corporate Governance Report (page 33)
9	Effective governance structures which support good decision making	Chairman’s introduction and summary – Corporate Governance Report (page 30) Board overview – Corporate Governance Report (pages 31–32) Board Committee reports – Corporate Governance Report (page 32)
10	Communication of Company governance and performance	Chairman’s introduction and summary – Corporate Governance Report (page 30) Board Committee reports – Corporate Governance Report (page 32)

David Gammon
4 September 2019

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