The Board of Directors of Intec Telecom Systems PLC is responsible to shareholders for the strategic direction and management and control of the Group’s activities and is committed to high standards of Corporate Governance in achieving these goals.The Board aims to comply with the Combined Code on Corporate Governance as issued in July 2006 and subsequently amended as applicable under the Listing Rules of the UK Listing Authority.
The Code requires listed companies to report how the main and supporting principles of the Code have been applied, giving sufficient detail to enable shareholders to evaluate the report, and to state whether there has been compliance with the provisions of the Code and providing an explanation for any points of non-compliance.
The Code requires the company to have an effective board whose role is to provide leadership within a framework of controls which allow risk to be assessed and managed. The board sets strategic aims and the company’s values and ensures that obligations to shareholders are met. The role of non-executive directors includes the development of strategy, the scrutiny of management and ensuring the integrity of financial information and risk management systems.
The Board’s policy on Corporate Governance is that the Company is required, wherever possible and relevant, to comply with the recommendations of the Combined Code on Corporate Governance, issued in July 2006 (the ‘Combined Code’), and to explain where it does not.
The full statement on the Group’s compliance with the Combined Code can be found in the Annual Report and Accounts.
