Management & Directors

The Combined Code

The Directors recognise the value of the Combined Code on Corporate Governance and whilst under the AIM rules full compliance is not required the Company applies the recommendations in so far as is practicable and appropriate for a public company of its size.

The Board

The Board comprises of an executive director and six non-executive directors whose background and experience are relevant to the Company’s activities. As such, the Directors are of the opinion that the Board comprises a suitable balance and that the recommendations of the Combined Code have been implemented to an appropriate level. The Board, through the Chairman and executive Director in particular, maintain regular contact with its advisors and public relations consultants in order to ensure that the Board develops an understanding of the views of major shareholders about the Company.

The Board meets regularly throughout the year. The Board is responsible for formulating, reviewing and approving the Company’s strategy, financial activities and operating performance. Day to day management of the Company is devolved to the executive Directors who are charged with consulting the Board on all significant financial and operational matters. Consequently decisions are made promptly and following consultation amongst the Directors concerned where necessary and appropriate.  

Audit Committee

The Audit Committee plans to meet at least three times in each year. Its members are Ken Ratcliff (Chairman), Philip Stephens and John Rix. The external auditors have unrestricted access to the Chairman of the committee.

The Audit Committee reviews the scope and results of the external audit and monitors the integrity of the financial statements of the Company. The Committee keeps under review the necessity for establishing an internal audit function but considers that, given the size of the Company and the close involvement of senior management in day to day operations, there is currently no requirement for such a function. Notwithstanding the absence of an internal audit function, the Committee keeps under review the effectiveness of the Company’s internal controls and risk management systems. 

Remuneration Committee

The Remuneration Committee plans to meet at least twice in each year.  Its members are Walter Roberts (Chairman), Philip Stephens and Ken Ratcliff.

The principal objective of the Committee is to ensure that members of the executive management of the Company are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the Company. Non-executive fees are considered and agreed by the Board as a whole.

Egdon Resources Plc Board of Directors

Mark Abbott Managing Director A founding Director of Egdon Resources, Mark is a highly-experienced geophysicist, explorationist and project manager. He has previously worked for the British Geological Survey, British Gas and Anadarko Algeria Corporation. Mark is also a Non-executive Director of Portland Gas plc and a Director of MA Exploration Services Ltd and Bishopswood Pavilion Limited.

Philip Stephens Chairman (Non-Executive) Philip is a corporate financier with significant City experience. He was head of UK corporate finance at UBS and joint head of corporate finance at Williams de Broe. Philip is currently non-executive Chairman of  Neptune-Calculus Income and Growth VCT. Philip is a member of the Audit and Remuneration Committee.

Andrew Hindle Non-executive Director A founding Director of Egdon Resources, Andrew is also Chief Executive Officer of Portland Gas plc. Andrew is a highly-experienced chartered geologist and project manager. He previously worked for Texaco and Anadarko Algeria Corporation. Andrew is also a Director of Geofocus Limited, Toffee Limited, Eskbank Resources and Eskbank Resources (Canada) Ltd.

John Rix Non-Executive Director John is a retired oil analyst and active investor in the Resources sector. John worked for Shell, N.M. Rothschild, de Zoete & Bevan and Greig Middleton. John is Chairman and Managing Director of Dorset Exploration Ltd and Yorkshire Exploration Ltd.  John is a member of the Audit Committee.

Walter Roberts Company Secretary and Non-Executive Walter is an oil and gas lawyer with an engineering background. Walter has been in private practice since 1995. He qualified with Simmons & Simmons, before working for Phillips Petroleum, Lasmo, Bow Valley and Talisman. Walter is also on the Board of Portland Gas plc (Infrastrata) and Pinnacle Energy Ltd . Walter is Chairman of the Remuneration Committee.

Ken Ratcliff Non-Executive Director Ken is a chartered accountant with extensive finance and business experience. Ken is non-executive Chairman of Portland Gas plc. He is currently accountant at Epsom College and at GDC UK Limited. Ken has previously held senior positions with GDC UK Limited, Ensign Geophysics td, Seismic Geocode Ltd, Tenneco Corporation and Merlin Geophysics Ltd.  Ken is Chairman of the Audit Committee and a member of the Remuneration Committee.

Alan Booth Non-Executive Director Alan is EnCore's nominee director.  Alan is a highly experienced petroleum geologist.  Alan is currently CEO of EnCore Oil plc.  Alan was previously Chairman and CEO of EnCana (U.K.) Ltd. Prior to this he worked for Amerada Hess and Oryx.  Alan has undertaken senior roles in UK oil and gas representative bodies such as UKOOA, Oil and Gas UK and PESGB and is currently a director of OGIA.