The Board and its Committees

The Board meets monthly to consider the operating and financial performance of the group and is responsible for approving company policy and strategy. The Board has appointed three standing committees, which are as follows:

The Audit Committee members are the four non-executive directors (Terry Connolly (Chairman), Osman Abdullah, Bill Conn and Tim Wightman). It meets at least twice a year and is responsible for ensuring that the financial performance of the group is properly reported on and monitored, and for meeting the auditors and reviewing their reports in relation to the accounts and the audit.

The Remuneration Committee consists of the four non-executive directors and is chaired by Terry Connolly. It meets at least twice a year and is responsible for setting the scale and structure of the executive directors' remuneration. It also recommends the allocation of share options to directors and other employees.

The Nomination Committee which is chaired by Tim Wightman and whose other members are Osman Abdullah, Bill Conn and Terry Connolly, meets at least once a year and is responsible for ensuring the composition of the Board is appropriately balanced. It is also responsible for identifying and nominating candidates for the approval of the Board, to fill Board vacancies as and when they arise.

Directors

Tim Wightman - Non Executive Chairman

Tim Wightman has had extensive business experience in the UK, Germany and North America. He was previously Chief Executive of Rubicon Group plc, a leading supplier of outsourced manufacturing services to the electronics industry, which was quoted on the London Stock Exchange up to 1998 when it was acquired by Applied Power Inc. He then served on APW's Executive Board with responsibility for the worldwide development of that company's services to global customers. He was appointed to the Board in March 2003.

Andy Wonnacott FCA - Finance Director

Andy Wonnacott FCA was appointed to the Board in March 2005 and has many years experience having held both finance director and group controllership positions within private equity backed and fully listed UK businesses. Prior to taking those positions he was a senior manager with Ernst & Young.

Osman Abdullah - Non Executive Director

Osman Abdullah was appointed to the Board in September 2010. He was previously Chief Executive of Evered Holdings plc. a fully listed public company specialising in industrial and quarry related products from 1981 to 1989. He also served as a non executive director of Umeco plc from 1993 to 2005 which achieved considerable acquisition and product led growth over that period. He has a broad range of commercial experience with industrial and supply chain businesses together with extensive experience in the Middle East, particularly in Saudi Arabia.

Bill Conn - Non Executive Director

Bill Conn became a non executive director on 1 January 2012 having been Chief Executive of the Group since June 2006. Prior to joining the Group in September 2004 he was Managing Director of the Electrical Drives Division of ALSTOM, the transport group and has many years experience in the rail transport and aerospace industries.

Terry Connolly FCA - Non Executive Director

Terry Connolly was appointed in August 2007. He is a chartered accountant and had a career in advertising and the entertainment sector where as Group Managing Director of Chrysalis he was responsible for taking that company to a public listing. Since 1989 he has been a self-employed consultant specialising in strategic and corporate affairs. He is Chairman of the Audit and Remuneration Committees.