redT energy is committed to high standards of corporate governance for which the Directors are accountable to stakeholders and particularly shareholders.
redT energy, its subsidiaries and representative offices around the world, have adopted a common approach to Corporate governance. The company applies, having regard to its size and nature, and so far as it considers practical and appropriate, the principles contained in part 1 of the Combined Code appended to the listing rules published by the UK Listing Authority. The company continues to monitor developments in the area of corporate governance.
The roles and responsibilities of the Board and senior management are clearly defined and regularly reviewed.
The Board includes an appropriate balance of executive and non-executive directors, and meets formally six times a year and such other occasions as required by the exigencies of the business.
It is supplied with information by senior management in a timely and accurate manner, appropriate to enable it to discharge its duties of reviewing and approving the company’s strategy, budgets, major items of capital expenditure and acquisitions.
Three committees provide oversight to support the proper governance of the company:
- Audit committee ensures that the financial performance of the group in properly reported on and monitored, and for maintaining an appropriate relationship with the company’s auditors
- Nomination committee oversees a formal and transparent procedure for the appointment and replacement of new Directors of the company and to the Board
- Remuneration committee ensures that processes designed to retain and remunerate the Executive Directors and management are consistent with current best practice
Accountability and audit
The Board will ensure that the Directors present a balanced and understandable assessment of the company’s position and prospects. redT energy also maintains a sound system of internal controls to safeguard shareholders’ investment and the company’s assets.
Shareholder and stakeholder communications
redT energy provides shareholders and stakeholders with relevant information in a timely and balanced manner. We understand and respect the rights of shareholders, will convene Annual General Meetings in full consideration of these rights, and encourage full participation of both Institutional and Private investors.
Corporate and social responsibility
redT energy takes all operational decisions in a responsible and ethical manner, and manages the business for long term sustainable success.