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Board committees

Audit committee

The audit committee is chaired by Christopher Knight, and its other members are Juha Niemelä and Tony Smith. The audit committee will meet at least twice a year. The audit committee will consider all matters relating to financial controls and reporting, internal and external audits, the scope and results of the audits, the independence and objectivity of the auditors and will keep under review the effectiveness of the Company's controls and risk management.

Remuneration committee

The remuneration committee is chaired by Tony Smith and its other members are Christopher Knight and Juha Niemelä. The committee will meet at least twice a year. The remuneration committee has responsibility for making recommendations to the Board on the Company's policy for remuneration of senior executives, for reviewing the performance of Executive Directors and senior management and for determining, within agreed terms of reference, specific remuneration packages for each of the Executive Directors and members of senior management, including pension rights, any compensation payments and the implementation of executive incentive schemes. Non-Executive Directors' fees will be determined by the full Board.

Nomination committee

The nomination committee is chaired by Juha Niemelä, and its other members are Christopher Knight and Tony Smith. The committee will meet at least twice a year, and has responsibility for considering the size, structure and composition of the Board, and the retirement and appointment of Directors, and will make appropriate recommendations to the Board in relation to these matters.