The iomart board has adopted the Companies Alliance (QCA) Corporate Governance Code. We believe this code offers a governance framework that is both flexible and rigorously outcome orientated.
You can read our full Corporate governance statement below.
Takeovers and Mergers
We apply the City Code on Takeovers and Mergers. The Code is used by The Panel when Takeovers and mergers take place.
The Directors, who are responsible for the Group’s system of internal control, have established systems to ensure that an appropriate level of oversight and control is provided. The systems are reviewed for effectiveness annually by the Audit Committee and the Board.
The Group’s systems of internal control are designed to help the Company meet its business objectives by appropriately managing, rather than eliminating, the risks to those objectives.
The annual financial plan is reviewed and approved by the Board. Financial results with comparisons to plan and forecast results are reported on monthly to the Board together with a report on operational achievements, objectives and issues encountered. Significant variances from plan are discussed at Board meetings and actions set in place to address them.
Approval levels for authorisation of expenditure are at set levels and cascaded through the management structure with any expenditure in excess of predefined levels requiring approval from the executive directors.
Relations with shareholders
The Chief Executive Officer and Chief Financial Officer have, where appropriate, had regular dialogue with shareholders and analysts to discuss strategic and other issues including the Company’s financial results.