AIM Rule 26
Details on this page of the Company's web site are disclosed in compliance with AIM Rule 26.
Last updated: 22nd April 2008
Description of business and strategy
See Home page, "About Prime People".
Names and responsibilities of directors
See Investor Relations page for the names of the "Board of Directors" and their biographical details.
The directors are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that year. In preparing those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Financial statements are published on the group's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the group's website is the responsibility of the directors. The directors' responsibility also extends to the ongoing integrity of the financial statements contained therein.
Committees of the Board
Audit Committee - comprises of the non-executive directors and is chaired by Mr Murphy. The Audit Committee is responsible for ensuring that the financial performance of the Company is properly reported on and monitored and for meeting the auditors and reviewing the reports from the auditors relating to accounts and internal control systems. It meets not less than twice each a year and by invitation the meetings are also attended by the Finance director.
Remuneration Committee - comprises of the non-executive directors and is chaired by Mr Lewis. The Remuneration Committee reviews the performance of the executive Directors and sets and reviews the scale and structure of their remuneration and the terms of their service agreements with due regard to the interests of Shareholders. In determining the remuneration of executive Directors, the Remuneration Committee seeks to attract and retain executives of the highest calibre. The Remuneration Committee also makes recommendations to the Board concerning the allocation of share options to employees. No Director is permitted to participate in discussions or decisions concerning his own remuneration.
Company's country of incorporation
Incorporated in England & Wales with company number: 1729887.
Company's main country of operation
United Kingdom
Current constitution
The Company's Articles of Association are appended below.
Stock exchanges on which the Company's securities are traded
The Company's shares are listed on AIM. The Company's shares are listed on this exchange only.
AIM securities in issue
The Company's issued share capital consists of 12,028,899 ordinary shares with a nominal value of 10 pence each ("Ordinary Shares"), each share having equal voting rights. There are no shares in treasury. As far as the Company is aware, 58.09% of the Ordinary Shares are not in public hands.
Significant shareholders and their most recently notified holdings are set out on the Investor Relations page, "Principal Shareholders".
Restrictions on the transfer of the Company's AIM securities
There are no restrictions on the transfer of securities.
Financial and similar reports
See Investor Relations page "Annual and Interim Reports, Analysts Reports".
Notifications made to AIM
For all notifications made to AIM in the previous 12 months see "Latest News" page.
Admission document and circulars
The Company's Admission Document is appended below. The Admission Document incorporates the Notice of Extraordinary Meeting associated therewith. As at the date of this Rule 26 Compliance report there have been no other EGMs. Notices of AGMs may be found incorporated in the Company's Annual Report & Accounts, see "Annual and Interim Reports".
Nominated adviser and key advisers
See Investor Relations page "Our Advisers".