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Corporate Governance

AIM companies are required to provide details of a recognised corporate governance code that the board of directors of the AIM company has decided to follow, explain how the company complies with this code and details where if departs from it including the reasons for doing so.

Last updated: 25 June 2020

Introduction from the Chairman

Caspian Sunrise PLC (“the Company” or the “Group”) has adopted the QCA Corporate Governance Code (the “Code”). We set out below detailed explanations of how we seek to comply with each of the QCA’s 10 principles.

We have identified two principal areas where we are not in full compliance:

  • The first relates to the position of Executive Chairman, where best practice under the Code is for the Chairman to be non-executive.
  • The second is that Caspian Sunrise PLC actively encourages non-executive directors to participate in the Company’s success via the option scheme.

We do not propose to change our stance on these first two areas.

We regard the new QCA Corporate Governance Code as a useful tool in making sure we treat others fairly and act properly. On its own, however, adherence to the Code is no guarantee of commercial success, which after all is our principal objective.

Clive Carver
Executive Chairman