The Board is chaired by Tim Hipperson as Chairman, with Ross Penney as Chief Executive Officer and Company Secretary, and Mark Horrocks and Simon Leathers as Non-Executive Directors. The Board meets monthly and has a schedule of matters reserved for its consideration, principally concerning business strategy, direction and financial performance and control. All Directors have access to the advice and services of the Company Secretary, who is responsible for ensuring that all Board procedures are observed, and to the Group’s professional advisers.
IMMEDIA GROUP PLC
BOARD OF DIRECTORS
Tim has held CEO positions within WPP, Interpublic Group and Publicis Groupe, and more recently as Interim CEO of Weve Ltd.
CHIEF EXECUTIVE OFFICER
Ross graduated from Cambridge in 1986. He was Head of Licensing at collecting society VPL, during which time he gained an MBA from Imperial College London. He set up a consultancy in 1998 before becoming a director of Cube Music Ltd, which was acquired by Immedia in 2006. After managing the operations of the business for many years Ross was appointed CEO in 2020.
Chairman of Audit Committee. Simon is a qualified chartered accountant. He has 16 years of corporate finance experience advising PwC, Evolution Securities, Daniel Stewart & Co, Fox-Davies Capital and BDO LLP. Simon will join the Remuneration Committee and the Audit Committee, of which he will become Chairman.
Chairman of Remuneration Committee. Mark joined the City in 1983 as a Financial Analyst to the Guardian Royal Exchange Group Plc and went on to manage the UK equity portfolios of the main Pension and Life funds representing assets of over £2bn until leaving in 1997 to pursue his own interests in the Small Company marketplace. He went on to join the Boards of several quoted small companies and gained much understanding of the needs of such companies as quoted businesses. In 1999 he jointly created and launched the Small Company Investment Trust Intrinsic Value Plc and is currently a Partner in Intrinsic Capital LLP.
The Board has two principal standing committees: the Audit Committee and the Remuneration Committee, each with specific terms of reference:
The Audit Committee is comprised of Simon Leathers and Mark Horrocks and is chaired by Simon Leathers. It meets a minimum of twice a year, has written terms of reference and its remit is to review the annual and interim accounts and the appropriateness of accounting policies, to review the internal controls and financial reporting, and to make recommendations on these matters to the Board. It also considers the appointment and fees of the external auditors, the resulting reports, and it discusses the action taken on problem areas identified by Board members or in external audit reports. The Chairman of the Audit Committee reports the outcome of the Audit Committee meetings to the Board and the Board receives the minutes of all Audit Committee meetings.
The Remuneration Committee, which is comprised of the Mark Horrocks and Simon Leathers, is chaired by Mark Horrocks and meets a minimum of twice a year. Its remit is to assess the performance of the Executive Directors and to consider and make recommendations to the Board on remuneration policy for Executive Directors and Senior Managers of the required calibre.
The Directors recognise the importance of sound and effective corporate governance, commensurate with the status of the Company as a company admitted to trading on AIM, and taking account the interests of all shareholders.
The Company’s Corporate Governance statement in accordance with Rule 26 of the AIM Rules can be found here.
The Directors will comply with Rule 21 of the AIM Rules relating to directors’ dealings as applicable to AIM companies and will take all proper and reasonable steps to ensure compliance by the Company’s applicable employees. The Company is subject to UK City Code on Takeovers and Mergers.
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