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. 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 2018 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 2018 Annual Report |
|---|---|---|
|
1 |
A strategy and business model for long-term value creation |
CEO Review (page 4) Strategic Review (pages 1-17) |
|
2 |
Understand and meet shareholder needs and expectations |
Investor relations – Corporate Governance Report (page 25) |
|
3 |
Understand and meet wider stakeholder needs and social responsibilities |
Strategy and business model – Strategic Review (pages 6-7) Corporate culture and social responsibility – Corporate Governance Report (page 26) |
|
4 |
Embedded risk management |
Strategy and business model – Strategic Review (pages 6-7) Risk Review (pages 16-17) Internal control and business risk – Corporate Governance Report (page 25) |
|
5 |
A well-functioning and balanced Board |
Board of Directors (pages 18-19) Board overview – Corporate Governance Report (pages 23-24) |
|
6 |
Board experience, skills and capabilities |
Board of Directors (pages 18-19) Board overview – Corporate Governance Report (pages 23-24) |
|
7 |
Performance of the Board and continuous improvement |
Board overview – Corporate Governance Report (pages 23-24) |
|
8 |
Corporate culture based on ethical values and behaviours |
Corporate culture and social responsibility – Corporate Governance Report (page 26) |
|
9 |
Effective governance structures which support good decision making |
Chairman’s introduction and summary – Corporate Governance Report (page 22) Board overview – Corporate Governance Report (pages 23-24) Board Committee reports – Corporate Governance Report (page 24) |
|
10 |
Communication of Company governance and performance |
Chairman’s introduction and summary – Corporate Governance Report (page 22) Board Committee reports – Corporate Governance Report (page 24) |
David Gammon
21 September 2018
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