Governance

This section was last updated on 30 June 2020

Board of directors

The Board of Directors currently comprises: the Chairman, Geoff Miller, who is a non-executive Director; one Executive Director, Dimitris Raptis; and six other non-executive Directors: John Whittle, Andreea Petreanu, Richard van Vliet, Norbert Sasse, Martin Bartyzal and David Maimon. Details on the Current Directors’ experience can be found in the related section of the Company’s website by following this link.

Role of the board

The role of the Board is to promote the long-term sustainable success of the Company, generating value for shareholders and contributing to wider society.

The Board supports the principles laid down in the UK Corporate Governance Code issued by the Financial Reporting Council in July 2018 (the “Code”) which applies to all companies with a premium listing in the UK for accounting periods beginning on or after 1 January 2019. Although Globalworth is listed on AIM rather than the Main Market (premium listing), the Board recognises the need to ensure an effective corporate governance framework is in place to give confidence that it is committed to demonstrating high standards in this regard.

In doing this, we strive to build and maintain successful relationships with shareholders as well as our customers, employees, partners and communities and to be responsive to their views.

All Directors are encouraged to constructively challenge and to bring independent judgement to bear on all matters, both strategic and operational.

Read more in the corporate governance section of the annual report.

Read our Corporate Governance Statement of Compliance with the UK Corporate Governance Code.

In addition, the Company is subject to the UK City Code on Takeovers and Mergers.

The Takeover Code

In addition, the Company is subject to the UK City Code on Takeovers and Mergers.

Committees of the board

The committees of the Board comprise the audit committee, the risk committee, the remuneration committee, the nomination committee and the investment committee.

Audit Committee

The audit committee comprises three independent non-executive Directors. The audit committee is chaired by John Whittle and the other members are Andreea Petreanu and Richard van Vliet. Details of the audit committee’s formal duties and responsibilities are set out in its terms of reference, which are attached below.

Risk Committee

The risk committee comprises four independent non-executive Directors. The risk committee is chaired by Andreea Petreanu and the other members are Martin Bartyzal, Richard van Vliet and David Maimon. Details of the risk committee’s formal duties and responsibilities are set out in its terms of reference, which are attached below.

Remuneration committee

The remuneration committee comprises three independent non-executive Directors. The remuneration committee is chaired by Martin Bartyzal and the other members are John Whittle and Geoff Miller. Details of the remuneration committee’s formal duties and responsibilities are set out in its terms of reference, which are attached below.

Nomination committee

The nomination committee comprises three independent non-executive Directors. The nomination committee is chaired by Geoff Miller and the other members are Andreea Petreanu and Richard van Vliet. Details of the nomination committee’s formal duties and responsibilities are set out in its terms of reference, which are attached below.

Investment committee

The investment committee currently comprises four Directors. It is chaired by Geoff Miller (independent non-executive Chairman) and the other members are Norbert Sasse (as Growthpoint’s nominee non-executive Directors), Dimitris Raptis (Executive Director) and David Maimon. Details of the investment committee’s formal duties and responsibilities are set out in its terms of reference, which are attached below.