The Board comprises two executive directors and three non-executive directors, including the Chairman. The Board meets monthly to discuss a formal scheduled agenda covering the key areas of the Company's affairs, including the monthly management accounts which incorporate an analysis of comparisons of actual versus budget.
The non-executive directors are considered to be independent of management and free from any material commercial relationship (other than as shareholders) with the Company, thereby allowing them to exercise full independent judgment of any issue that may arise.
The Company has selected non-executive directors with regional knowledge and industry, financial, and legal experience at a senior level to ensure that they are able to make a strong and individual contribution to the strategy, performance and standards of conduct of the Company. You can view the director biographies here [link].
The roles of the Chairman and the Managing Director are separate, ensuring a division of responsibility at the head of the Company.
The Chairman conducts Board and shareholder meetings and ensures that all directors are properly briefed. The directors are responsible for formulating, reviewing and approving the Company strategy, budgets and major items of capital expenditure. The directors have access to independent professional advice at the Company's expense and to the Company Secretary and can receive appropriate training as required.
With the exception of the Managing Director, the directors are required to retire by rotation at least every three years when they can offer themselves for re-election if eligible.
The ENK board has implemented audit, remuneration, and nomination committees. The committees have the following specific and formal responsibilities:
The Audit Committee is responsible for the production and quality of the company's financial reporting the disclosure of relevant financial information, as well as reviewing the Company's risk management and internal control procedures.
The Remuneration committee is responsible for performance reviews of directors and senior members of the company, and determining appropriate remuneration and bonuses, and oversees the company's bonus scheme.
The Nomination Committee is tasked with overseeing the appointment of new directors. The committee will review and nominate candidates and make recommendations to the board.