THE QUOTED COMPANIES ALLIANCE (QCA) CODE
In March 2018 new AIM Rules were published in respect of AIM Rule 26 (as set out in AIM Notice 50) requiring AIM companies to state on their website which recognised corporate governance code they apply and how they have applied that code. From 28 September 2018 the Company is required to explain how it has complied with its adopted corporate governance code and, where it departs from this, to provide an explanation for its reasons for doing so.
The Directors of Airea plc are committed to developing and applying high standards of corporate governance appropriate to the Company’s size and stage of development and therefore has elected to adopt the QCA Corporate Governance Code which was published on 25 April 2018 (“QCA Code”).
The Quoted Companies Alliance is the independent membership organisation that champions the interests of small to mid-size quoted companies. The QCA Code takes key elements of good governance and applies them in a manner which is workable for the different needs of growing companies.
The underlying principle of the QCA Code is that “the purpose of good corporate governance is to ensure that the company is managed in an efficient, effective and entrepreneurial manner for the benefit of all shareholders over the longer term”. The Code states what is considered to be appropriate arrangements for growing companies, and asks companies to provide an explanation about how they are meeting the principles through the prescribed disclosures.
To understand how the Company addresses the key governance principles defined in the QCA Code please refer to the ‘Corporate Governance QCA March 2023 FINAL’ document shown below. Further information on compliance with the QCA Code will be provided in our next annual report.
Martin Toogood, Chairman
This disclosure was last reviewed and updated on 30th March 2023 and will be reviewed at the same time as the publication of the audited accounts of the company for each financial year.