The Company holds regular board meetings. The Directors are responsible for formulating, reviewing and approving the Group's strategy, budget and major items of capital expenditure. The Directors have established an audit committee, remuneration committee and a nomination committee with formally delegated rules and responsibilities. Each of these committees will comprise of only non-executive Directors who will meet as and when appropriate save in the case of the audit committee which will meet at least twice each year.
Audit Committee
The audit committee is comprised of David Mace, Liu Xiaochuan and Teo Kean Eek and is chaired by David Mace. The audit committee determines and examines matters relating to the financial affairs of the Company including the terms of engagement of the Company's auditors and, in consultation with the auditors, the scope of the audit. It receives and reviews reports from management and the Company's auditors relating to the half yearly and annual accounts and the accounting and the internal control systems in use throughout the Group, in addition to ensuring that the Company complies with the AIM Rules for Companies.Remuneration committee
The remuneration committee is comprised of Liu Xiaochuan, David Mace and Teo Kean Eek and is chaired by Liu Xiaochuan. The remuneration committee reviews and makes recommendations in respect of the Directors' remuneration and benefits packages, including staff incentivisation and the terms of their appointment. The remuneration committee also makes recommendations to the Board concerning the allocation of incentivisation payments to employees and the grant of options to directors and employees.Nomination committee
The nomination committee is comprised of Teo Kean Eek, Liu Xiaochuan and David Mace and is chaired by Teo Kean Eek. The nomi💞nation committee leads the process for Board appointments and makes recommendations to the Board taking into account the balance of skills, knowledge and experience on the Board.
