Policy On The Appointment Of Directors And The Composition Of The Board

The board considers that the number of directors at any time and the composition of the board is critical for the success of the company. It is acknowledged that these aspects could vary from time to time depending on the circumstances of the company.

Number Of Directors And Board Composition

The total number of directors will be determined by the board under the constitution or by the shareholders in General Meeting and shall take into account the skills and experience required for the board to complete its duties given the scale and complexity of the company’s operations.

Given the existing scale and complexity of operations of CCP Technologies Ltd., the board believes that it is impractical to appoint a nomination committee. Accordingly, the full board assumes responsibility for the selection and appointment of directors.

Appointment Of Directors

Whether filling a vacancy or expanding the board, the procedures applied by the board may include the selection of a panel of nominees. In compiling the panel of nominees, the board may draws on advice from external consultants and internal industry experience.

Potential directors shall be approached by the Chairman of the board and their interest in joining the board, together with the responsibilities such an appointment entail, are discussed. Terms and conditions of the appointment, including the level of remuneration, are also communicated to the nominees.

If accepted the Board will appoint the new director(s) during the year, and that person(s) will then stand for election by shareholders at the next Annual General Meeting. Shareholders are provided with relevant information on the candidates for election.

When appointed to the board, all new directors shall receive an induction appropriate to their experience to familiarise them with matters relating to our business, our strategy and current issues.

Managing Directors

If the chief executive is to be a director of the company he will have the title of Managing Director.