“We are committed to high standards of corporate governance which we consider are critical to business integrity and to maintaining investors’ trust in us. We expect all our directors, employees and suppliers to act with honesty, integrity and fairness. Our business principles set out the standards we set ourselves to ensure we operate lawfully, with integrity and with respect for others.”
Johnson Service Group PLC has adopted the Financial Reporting Council’s UK Corporate Governance Code 2016 (the ‘Code’). In doing so the Company is required to comply with the code, or, state the areas in which it does not comply. The Code is intended to enhance the quality of information investors receive about the long-term health and strategy of listed companies, and raises the bar for risk management. The Code can be accessed on the Financial Reporting Council’s website: https://www.frc.org.uk.
The Code is a guide to a number of key components of effective Board practice, the main principles, or sections, being:
- Relations with Shareholders
The Company’s 2018 Annual Report contains detailed information on the key principles of the Code and how the Company complied with each of them throughout the year ended 31 December 2018. Further information is available in the 2018 Annual Report, or by following the links below. In particular, investors’ attention is drawn to the Corporate Governance Report contained on pages 39 to 46 of the 2018 Annual Report, a link to which is provided below:
- Strategic Review
- Principal Risks and Uncertainties
- Directors’ Report
- Directors’ Responsibilities Statement
- Corporate Governance Report
- Audit Committee Report
- Nomination Committee Report
- Board Report on Remuneration
On 16 July 2018, the Financial Reporting Council released the 2018 UK Corporate Governance Code (the ‘2018 Code’) which has a number of differences to the current version and which will apply to accounting periods beginning on or after 1 January 2019. The Company will review its compliance with the 2018 Code throughout the year ending 31 December 2019 at the same time as it prepares its 2019 Annual Report.
In fulfilling its responsibilities under Schedule 19 of the Finance Act 2016, the Board has approved for publication a Tax Risk Management Strategy (“Tax Strategy”) which sets out our approach to tax risk management and tax planning. The Tax Strategy, which can be accessed by clicking here, will be reviewed periodically and updated as applicable.