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| Corporate Governance |
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The Board recognises that it is in the best interests of the Company and its Shareholders to support high standards of corporate governance and to comply with those principles of corporate governance contained in the Combined Code which are appropriate for a company of its size, which is incorporated in Cyprus.
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| Board composition |
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The Combined Code recommends that the board of directors should include a balance of executive and non-executive directors (and, in particular, independent non-executive directors) such that no individual or small group of individuals can dominate the board's decision taking. The Combined Code states that the board should determine whether a director is independent in character and judgement and whether there are relationships or circumstances which are likely to affect, or could appear to affect, the director's judgement.
MirLand currently has 9 Directors, 5 of whom are Non-executive Directors considered by the Board to be independent, which the Directors consider to be a satisfactory balance for the purposes of decision-making at Board level in line with the provisions of the Combined Code.
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| Board Practice |
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The Board will meet at least four times a year.
In line with the Combined Code, the Company has established three committees: an audit committee, a remuneration committee and a nomination committee. The members of these committees are appointed from among the Non-executive Directors. The terms of reference of the committees have been supplemented with additional provisions from the Combined Code. The Company has also established an Investment Committee
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