|Matters Reserved for the Board||Include:|
- Authority e.g. division of responsibilities and review of its own performance.
- Strategy and Management e.g. approval of the annual operating and capital expenditure budgets and any material changes thereto.
- Structure and Capital e.g. changes to structure or listing status.
- Investor Relations
- Contracts e.g. significant corporate transactions.
- Audit, Financial Reporting and Controls e.g. reviewing the effectiveness of the Group's risk and control processes to support its strategy and objectives.
- Nominations to the Board
- Executive Remuneration
|Available on our Corporate Website.|
|Board Committees||The terms of reference of each Committee establish its responsibilities; these are summarised in the Nomination Committee, Audit Committee and Renumeration Committee sections of the Corporate Governance Report.||Available on our Corporate Website.|
|Day-to-day decisions are delegated to the Executive Directors and management via established procedures for approving decisions within business functions. Examples of decisions delegated in this way are approval of adverts, signature of day-to-day contracts, engaging of new suppliers, entering into tenders and promotional activity.||A formal delegated authorities document confirms how and by whom approval can be obtained and what evidence is required of such approval. This document has been reviewed during the year, and tighter controls have been put in place.|