DekelOil is committed to the highest standards of corporate governance across all aspects of the company’s operation.
The Board intends to comply with the recommendations on corporate governance made by the Quoted Companies Alliance as far as is practicable, taking into account the Company’s size and stage of development. DekelOil will hold regular board meetings as issues arise that require the attention of the Board. The Board is responsible for formulating, reviewing and approving the Company’s strategy, budget, major items of capital expenditure and senior personnel appointments.
The Board has established an Audit Committee and Remuneration Committee with formally delegated duties and responsibilities.
The Remuneration Committee comprises of Mr Andrew Tillery, Mr Lincoln Moore and Ms Orli Arav, and is chaired by Mr Tillery. The Committee is responsible for senior management, including any bonus arrangements or the award of share options with due regard to the interests of the Shareholders and the performance of the Company.
The Audit Committee, which comprises of Mr Andrew Tillery, Mr Lincoln Moore and Ms Orli Arav and is chaired by Mr Tillery, is responsible for the appointment of auditors and the audit fee, and for ensuring that the financial performance of the Company is properly monitored and reported. In addition, the Audit Committee receives and reviews reports from management and the auditors relating to the interim report, the annual report and accounts and the internal control systems of the Company.
The Company has adopted a share dealing code governing the share dealings of the Directors and applicable employees during close periods and is in accordance with Rule 21 of the AIM Rules.
In addition the Company intends that, and will ensure that, the following information is disclosed in accordance with Rule 26 of the AIM Rules and updated accordingly:
- Description of the business;
- The names of the directors and biographical details;
- Board Committees;
- Country of incorporation and main country of operation;
- Current constitutional documents;
- Company announcements;
- Admission document and circulars;
- Details of any other exchanges or trading platforms, if and when they occur in the future;
- Financial information;
- Number of securities in issue; and
- Details of any restrictions on the transfer of securities, if they occur in future.