The Board supports the ‘comply or explain’ approach set out in the UK Corporate Governance Code, which forms part of the Board’s governance processes.

The Board supports the ‘comply or explain’ approach set out in the UK Corporate Governance Code (the Code), which forms part of the Board’s governance processes. The Code is issued by the Financial Reporting Council and is available on the FRC’s website.

The Board has spent time considering the changes and enhanced disclosure requirements brought in by the FRC’s 2018 Code, which places increased emphasis on stakeholder engagement, diversity and corporate culture and remuneration structures. We remain committed to maintaining the highest standards of Corporate Governance across the Group to support the delivery of our strategy and provide long-term value to our shareholders.

This 2019 Annual Report and Accounts has been prepared against the 2018 version of the Code. The Board can report full compliance with the Code during the 2019 financial year.