Governance of London Mining Plc
London Mining plc (the “Company”) is committed to maintaining high standards of corporate governance.
The Directors have also applied section 13.2.2(5) of the Continuing Obligations of Stock Exchange Listed Companies published by the Oslo Stock Exchange. In its application, the Company is exempt from applying the Norwegian Code of Practice for Corporate Governance published on the basis that the Norwegian Code shares common corporate governance themes with the Combined Code.
Adherence to the Combined Code is based on a “comply or explain” principle, whereby companies are expected to comply with the recommendations or explain why they have chosen an alternative approach. Below is a summary of the departures from the Combined Code with an explanation of how the Company’s actual practices contribute to good corporate governance.
The
Company has adopted a common approach to corporate governance to comply
with regulatory obligations associated with its listing on the AIM
market of the London Stock Exchange (“AIM”) and the Oslo Axess of the
Oslo Stock Exchange (" Oslo Axess ").
Whilst not a
mandatory requirement of the Company’s listing on AIM, the Directors
have chosen to apply the Combined Code on Corporate Governance published
by the UK Financial Reporting Council in June 2008 (the “Combined
Code”) to promote good corporate governance, where considered practical
for a company of its size and development stage of the mining cycle.
The Directors have also applied section 13.2.2(5) of the Continuing Obligations of Stock Exchange Listed Companies published by the Oslo Stock Exchange. In its application, the Company is exempt from applying the Norwegian Code of Practice for Corporate Governance published on the basis that the Norwegian Code shares common corporate governance themes with the Combined Code.
Adherence to the Combined Code is based on a “comply or explain” principle, whereby companies are expected to comply with the recommendations or explain why they have chosen an alternative approach. Below is a summary of the departures from the Combined Code with an explanation of how the Company’s actual practices contribute to good corporate governance.
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