Chairman's corporate governance statement
Corporate governance provides the foundation for all successful organisations and consequently, the Board supports and is committed to implementing good governance throughout the business.
Since September 2018 all AIM companies are required to comply with a recognised corporate governance code. The Company has adopted the Quoted Companies Alliance Corporate Governance Code (‘the QCA Code’) which the Board believes to be the most appropriate recognised governance code for Nu-Oil and Gas. The QCA Code provides the framework to ensure the appropriate level of governance is maintained, enabling the Company to embed a good governance culture within the organisation considered essential to building a successful and sustainable business for all stakeholders.
The Company’s recent designation as a cash shell has meant change and the Board and leadership structure reflects the requirements to meet the QCA guidelines during this period.
Application, principles and disclosure requirements of the QCA Code
The Company applies the QCA Code, which the Board believe is the most appropriate governance code for an AIM-listed company of its size. The QCA Code has ten principles of corporate governance that the Company has committed to apply within the foundations of the business.
The Code requires us to publish certain disclosures in our Annual Report and/or on our website. In accordance with the Code, our website disclosures are summarised here.
The Board will continue to assess its corporate governance annually, or in response to changes to the QCA Code as appropriate and will implement changes accordingly.
This section was last updated on 24 January 2020.