Page 32 - Beeks Financial Cloud Group Annual Report 2021
P. 32
30 Beeks Financial Cloud Group PLC
For the year ended 30 June 2021
Report on Remuneration
Report on
Remuneration
DIRECTORS’ REMUNERATION also makes recommendations to some senior management,
REPORT FOR THE YEAR ENDED 30 to the Board on proposals for the including executive directors, under
JUNE 2021 granting of share options and the Company’s Staff Long term
On behalf of the Board, I am other equity incentives pursuant incentive scheme (LTIP). In granting
pleased to present the Directors’ to any employee share option these options, the Remuneration
Remuneration Report for the year scheme or equity incentive plans Committee’s objective was to
ended 30 June 2021 which sets out in operation from time to time. attract, motivate and retain key
our Directors’ Remuneration policy The Remuneration Committee staff over the long term, designed
and provides details of amounts meets as and when necessary. to incentivise delivery of the
earned by Directors in respect of The Remuneration Committee company’s growth objectives.
the year ended 30 June 2021. comprises the Chairman and
GOVERNANCE
the Non-Executive Director and is
As the Company is listed on the chaired by Mark Cubitt. NON-EXECUTIVE DIRECTORS
Alternative Investment Market it The Board, based on a
is not required to comply with the REMUNERATION recommendation by the Chairman
provisions of the UK Corporate COMMITTEE REPORT of the Remuneration Committee
Governance Code 2018 (“Code”) The Remuneration Committee or, in the case of the Chairman, the
issued by the Financial Reporting reviews the performance of the remainder of the Board determines
Council, however, we continue to executive directors and makes the remuneration of the Non-
provide disclosures in addition recommendations to the Board Executive Director.
to that which is required by AIM on matters relating to their
Rule 19 on a voluntary basis to remuneration and terms of service. SERVICE CONTRACTS
enable shareholders to understand The Remuneration Committee The Executive Directors have
and consider our remuneration also makes recommendations entered into service contracts with
arrangements. If this was to the Board on proposals for the The Group that are terminable by
prepared under the Companies granting of share options and either party on no less than three
Act, additional disclosures would other equity incentives pursuant months’ prior notice.
be required in order to meet the to any employee share option
requirement. scheme or equity incentive plans SHARE OPTIONS
in operation from time to time. Share options were awarded to
REMUNERATION COMMITTEE The Remuneration Committee staff (including Directors) during
The Remuneration Committee meets as and when necessary. the year in accordance with
operates within defined The Remuneration Committee the Company’s LTIP (Long Term
terms of reference. The comprises the Chairman and Incentive Plan). The details of
Remuneration Committee the Non-Executive Director and is these are disclosed in Note 20.
reviews the performance of the chaired by Mark Cubitt.
executive directors and makes
recommendations to the Board During the period under review the
on matters relating to their Remuneration Committee met two
remuneration and terms of service. times and has granted options over
The Remuneration Committee ordinary shares in the company
