Desire PLC Sub Committees
Remuneration Committee and Nomination Committee
The Committees both comprise of three Non Executive Directors and meet as required during the year.
The Remuneration Committee is chaired by Mr A G Windham and includes Mr E Wisniewski, and Mr Robert Lyons.
The Nomination Committee is chaired by Mr A G Windham and includes Mr E Wisniewski and Mr Robert Lyons as members.
The Committees responsibilities include the consideration and approval of the terms of service, nomination, remuneration and benefits of the Company's Directors.
The Board, as a whole, determines the remuneration of the Non-Executive Directors with individual Directors absenting from discussions involving any matter relating to themselves.
The Group considers that it has, to the extent appropriate given the Company's particular circumstances, applied the Combined Code throughout the year regarding remuneration committees. In formulating remuneration policy the Committees gives due consideration to the best practice provisions section of the Code.
Remuneration policy
The remit of the Committees is to advise on all aspects of the remuneration packages of Directors.
The policy of the Committees is to ensure that the remuneration packages offered are competitive and designed to attract, retain and motivate Directors of a high caliber, with a significant proportion of the remuneration package linked to performance.
The Directors' emoluments are not pensionable.
Directors' contracts
The Directors' Service contracts are for an indefinite period but can be terminated with six-months' notice by either party.
Audit Committee
The Audit Committee is chaired by Mr E Wisniewski and includes Mr A G Windham and Mr Robert Lyons. The Committee convenes twice a year and its terms of reference include the review of the Annual and Interim Accounts, accounting policies of the Company and its subsidiaries, internal management and financial controls, and the planning, scope and results of the Auditors' programme. UHY Hacker Young Manchester LLP attend the meetings at the request of the Committee.
