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Governance

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Corporate Governance

Sound Energy’s success is fundamentally linked to good governance and we remain committed to achieving high standards in all we do. Our business and processes are aligned around a robust governance framework. We adhere to the principles of the Quoted Companies Alliance Corporate Governance Code and are committed to applying these principles as far as practicable, having regard to the current size and structure of the Company, and the requirements of the AIM market of the London Stock Exchange.

While building a strong governance framework, we also try to ensure that we take a proportionate approach and that our processes remain fit for purpose as well as embedded within the culture of our organisation. We continue to evolve our approach and make ongoing improvements as part of building a successful and sustainable company.

Good governance provides a framework that allows the right decisions to be taken by the right people at the right time.

We use a trusted set of advisors including a company secretary, nominated advisor and brokers.

The Board

Responsibilities

The Board retains ultimate accountability for governance and is responsible for monitoring the activities of the Executive team. No one individual has unfettered powers of decision. Whilst it is recognised that an Executive Chairman is not considered best practice, it is believed to be the best solution for the business at present. The Board has a Senior Independent Director who works alongside the Executive Chairman.

Executive Committee

Responsibilities

The Executive team supports the Chief Executive Officer and Board decision making, particularly around assurance at project decision gates and new business opportunities. It is accountable for the implementation of key strategic building blocks and the performance of the business, designing and implementing the culture and tone of the organisation, as well as the sharing of information across the business.

Committees

Remuneration and Nominations Committees

image of Christian Bukovics

Christian Bukovics
Chairman of the Committee

Members

Christian Bukovics (Chair)
Marco Fumagalli
David Blewden

Responsibilities

The Committee meets as and when required to consider matters related to succession planning and new nominations to the Board.

HSE Committee

image of Christian Bukovics

Christian Bukovics
Chairman of the Committee

Members

Christian Bukovics (Chair)
Mohammed Seghiri
Dr John Argent
Nabil Elmjati

Responsibilities

The Committee ensures that management of the Company has designed and implemented effective HSE risk programmes, controls and reporting systems, and to report to the Board.

Audit Committee

David Blewden
Chairman of the Committee

Members

David Blewden (Chair)
Marco Fumagalli

Responsibilities

The Committee’s role is to monitor:

  • the integrity of the Company’s financial statements and other formal announcements relating to the Company’s financial performance;
  • the effectiveness of the risk management and internal control systems including the result of reviews of the system and management’s response to review findings;
  • the appropriateness of the Company’s relationship with the external Auditor and the objectivity of the audit process; and
  • the enforcement of the Company’s code of conduct and the adequacy and security of the whistleblowing procedure and anti-bribery and corruption policy.

The Audit Committee may, if it wishes, hold private sessions with management and the external Auditor.