Corporate governance statement
The board (bestuur) (the “Board”) of Corre Energy B.V. (the “Company”) recognises the importance of maintaining good corporate governance and has chosen to apply the Quoted Companies Alliance Corporate Governance Code, issued in April 2018 (the “QCA Code”). The Company discloses in this corporate governance statement (the “Corporate Governance Statement”) (and shall within its annual report and accounts disclose) how it complies with the QCA Code and, where it departs from the QCA Code, explains the reasons for doing so. The Company will review this information annually in accordance with the requirements of Euronext Growth Rules: Rulebook II, 5.26.
The Corporate Governance Statement was last reviewed on 8 December 2021
Governance Statement describes the Company’s corporate governance arrangements including the application of the principles of the QCA Code
|Corporate Governance Statement|
Board and committee independence
The QCA Guidelines recommend that the board of directors should include a balance of executive and non-executive directors, such that no individual or group of individuals can dominate the board’s decision making. In the case of a smaller company, such as the Company, the QCA Guidelines recommends that the board should include at least two non-executive directors who are independent. The Company complies with this recommendation.
Given the size and stage of development of the Group, the Directors have decided, at this stage, not to establish a nomination committee or a remuneration committee. Relevant decisions in relation to nomination or remuneration matters are considered by the Board as a whole as appropriate and subject to any relevant conflict of interest procedures.
Audit and Risk Committee
The Audit and Risk Committee will be responsible for monitoring the integrity of the Company’s financial statements, reviewing significant financial reporting issues, reviewing the effectiveness of the Company’s internal control and risk management systems, and overseeing the relationship with the external auditors (including advising on their appointment, agreeing the scope of the audit and reviewing the audit findings).
The Audit and Risk Committee will initially comprise Rune Eng and Frank Allen and will be chaired by Rune Eng. The audit and risk committee will meet at least three times a year at appropriate intervals in the reporting and audit cycle and otherwise as agreed between the members of the committee or as required. Full details of the responsibilities of the Audit and Risk Committee are available in its Terms of Reference, available to download below.
|Terms of Reference|