Glenveagh Properties PLC (‘the Company’) recognises that the Company’s success in delivering to both external and internal stakeholders requires our ongoing commitment to the highest standards of corporate governance. The Board recognises the importance of the principles and provisions of the UK Corporate Governance Code (‘the Code”) and the Irish Corporate Governance Annex (‘the Annex’) which underpin the corporate governance framework for premium listed companies.

In our Annual Report each year, the Company sets out how we have applied the principles of the Code and, in line with its ‘comply or explain’ model, we describe in detail any departures from its provisions

Board of Directors

The Board is responsible for the leadership, strategic direction and overall management of the company. The Company has a highly experienced Board and is currently comprised of seven Directors; three Executive Directors, including the Executive Chairman, three independent Non-Executive Directors and one Non-Executive Director. As Executive Chairman, John Mulcahy is responsible for the effective leadership of the Board. The names and bios of each of the Directors are available here.

The Board is committed to maintaining the highest standards of corporate governance and meets formally 6 times during the year, with additional meetings convened as and when required. The Board reserves to itself a formal schedule of matters on which it exercises final decision, with certain other matters delegated to formally established Board committees. The Board recognises that, in addition to its own activities, the work of the Board Committees is central to ensuring the robustness of the Company’s corporate governance framework.

Audit and Risk Committee

The Audit and Risk Committee is comprised entirely of independent Non-Executive Directors and chaired by Robert Dix. Its other members are Lady Barbara Judge (Senior Independent Director) and Richard Cherry.

The Audit and Risk Committee is responsible for monitoring the integrity of the Company’s financial reporting and the effective application of the Company’s internal controls. The Audit and Risk Committee meets at least four times per year at appropriate intervals in the Company’s financial reporting and audit cycle. The Board is satisfied that the combined qualification and experience of the individual members provides the committee with the financial expertise necessary to discharge its responsibilities.

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Remuneration and Nomination Committee

The Remuneration and Nomination Committee is comprised entirely of independent Non-Executive Directors and chaired by Richard Cherry. Its other members are Lady Barbara Judge (Senior Independent Director) and Robert Dix.

The Remuneration and Nomination Committee is responsible for setting and monitoring the level and structure of remuneration for the Executive Directors and senior management. The Remuneration and Nomination Committee is also responsible for reviewing the size, structure and composition of the Board, undertaking succession planning and leading the process for new Board appointment recommendations. The Remuneration and Nomination Committee holds a minimum of two meetings per year and utilises the services of external consultants to assist in the discharge of its responsibilities as appropriate.

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