Shop Foreign Currency Shop Jewellery & Watches Branch Locator Investor Relations About Us Shop Contact The Board & Governance Investor Relations The Board & Governance ABOUT US BUSINESS AND STRATEGY REGULATORY NEWS SERVICE REPORTS, PRESENTATIONS & NOTICES SHARE PRICE FINANCIAL CALENDAR THE BOARD & GOVERNANCE ENVIRONMENTAL, SOCIAL, GOVERNANCE (ESG) ASSOCIATION MEMBERSHIPS SHAREHOLDERS ADVISERS INVESTOR CONTACTS COMPANY REGISTRATION AIM RULE 26 The Board & Governance The Directors recognise the importance of sound corporate governance. The Company is a member of the Quoted Companies Alliance (QCA) and has adopted its Corporate Governance Code. With respect to following the principles of the QCA Code the table below signposts where to look. QCA Code Principle Please refer to the following sections on this website or our annual report 1. Establish a strategy and business model for long-term value creation for stakeholders Business and Strategy 2. Seek to understand and meet shareholder needs and expectations Shareholders 3. Take into account wider stakeholder and social responsibilities and their implications for long term success Corporate Social Responsibility 4. Embed effective risk management, considering both opportunities and threats, throughout the organisation The Board and Governance (below) 5. Maintain the board as a well-functioning, balanced team led by the chair The Board and Governance (below) 6. Ensure that between them the directors have the necessary up to date experience, skills and capabilities The Board and Governance (below) 7. Evaluate board performance based on clear and relevant objectives seeking continuous improvement The Board and Governance (below) 8. Promote a corporate culture that is based on ethical values and behaviours The Board and Governance (below) 9. Maintain governance structures and processes that are fit for purpose and support good decision-making by the board The Board and Governance (below) 10. Communicate how the company is governed and is performing by maintaining a dialogue with shareholders and other relevant stakeholders The Board and Governance (below) Reports and Presentations Regulatory News Service The Chairman's statement on Corporate Governance can be read in the annual report for the period to 30 September 2020 and can be read here. The board comprises of five directors, three Non-Executive Directors (NEDs) who are all considered independent and two Executive directors. The Group’s future success over the long term is dependent upon it living up to its high ethical values and demonstrating exemplary behaviours. The Board has a mix of skills, backgrounds, experience and knowledge to help achieve this. The business operates with 3 core values of being trusted, open and passionate and challenges its senior management team of key influencers to consider the values in the decisions they make and actions they take. The Board and the senior management team work to ensure that the mission statement, in which the customer is at the heart of everything the Group tries to do, is delivered. As a FCA authorised business, the Group must adhere to the Senior Managers and Certification regime. This sets out nine key responsibilities and four conduct rules for senior managers and five conduct rules for all staff. The Board is satisfied that the culture of the business is to undertake all activities in line with the conduct rules. Living the values, obeying the FCA conduct rules and delivering the mission statement is integral to the consistent communications of what is expected, delivered through a weekly newsletter and face to face by Regional Managers, Area Managers, Internal Auditors and Department Heads. The Board have all spent time in stores and head office speaking with employees for an informal view of the business from the ground up. The gives them the ability to constructively challenge strategy and scrutinise performance. Complaint and compliment statistics are used to monitor customer service levels. All feedback received from staff and customers is used to test the policies and procedures to ensure they remain fit for purpose and that the business continues to evolve. Executive Directors Peter Edward Kenyon (56), Chief Executive Officer Peter joined Ramsdens in November 2001 as Operations Director and was appointed Chief Executive Officer in January 2008. Peter led the MBO in 2014 and has been responsible for over 25 acquisitions for the Group. He is responsible for overseeing all operations of the business and for implementing the Group's strategy. Prior to joining Ramsdens, Peter's early career was with Yorkshire Bank for 17 years. He is a Council Member of the National Pawnbrokers Association and became a director of the Company at the time of the MBO in September 2014. External appointments - Peter is a director of The National Pawnbrokers Association. Martin Anthony Clyburn (40), Chief Financial Officer Martin joined Ramsdens in 2009 and is a Chartered Accountant having previously qualified with respected North East firm, Keith Robinson & Co. Martin joined the board of the Company as Chief Financial Officer in August 2016. Martin is responsible for the Finance, IT and Compliance & Risk functions within the Group. Martin lectured part time at the University of Teesside from 2006 - 2012. Martin holds a degree in MORSE from Warwick University. External appointments - None. Non-Executive Directors Andrew David Meehan (66), Non-Executive Chairman Andy is a highly experienced retail executive with over 30 years’ experience including CEO and CFO roles at Co-Operative Retail Services, Storehouse plc and Sears plc. Since 2006 he has held a number of chairmanships and non-executive positions in several retail and consumer product businesses including Fortnum and Mason, GHD Group and American Golf. Andy is a Chartered Accountant and holds a degree in Politics and Economics from Oxford University and has been Chairman of the Company since September 2014. External appointments - Andy is chairman of NEF Holdings Ltd, Polyco Healthline Group Ltd, Dr Morton’s Ltd, University Hospitals Coventry and Warwickshire NHS Trust Charity, Shaw Education Trust, and Coventry Cathedral Council. He is Pro-chancellor and Governor at Coventry University and a director of Lanthorne Ltd, Coventry University Enterprises Limited, The FutureLets Limited, PeoplesFuture Limited, CU Services Limited and Cheviot Court (Luxborough Street) Ltd Simon Edward Herrick (57), Non-Executive Director Simon joined the board of the Company on 1 January 2017. Simon has significant experience in senior finance roles including positions as CFO of Debenhams plc, Northern Foods plc, Kesa Electricals plc and PA Consulting Limited. Since leaving Debenhams, Simon has undertaken consultancy work in a number of sectors, including as Interim CEO of Blancco Technology Group PLC. Simon is a Chartered Accountant and holds an MBA from Durham University. External appointments - Simon is a director of 53Herrick Limited, Herrick Inc Limited, Sports Punk Limited and FireAngel Safety Technology Group Plc. Stephen John Smith (64), Non-Executive Director Steve joined the board of the Company on 1 January 2017. Steve retired as CEO of Northgate plc in 2010 after a career with Northgate spanning over 20 years. Since leaving Northgate, Steve has served as a Non-Executive Director on the boards of various family and private equity backed businesses, including four positions as Chairman. Steve is a Chartered Accountant and holds a degree in Economics from the London School of Economics. External appointments - Steve is a Director and Chairman of Procomm Site Services Ltd and John Nixon Limited. The Chairman’s role is to independently lead the Board and constructively challenge management on delivering the Board’s strategy. The Chief Executive’s role is to implement the strategy of the Board by ensuring it operates effectively and efficiently with the required financial and human resources. The Board is responsible for reviewing, formulating and approving the Group's strategy, budgets and corporate actions and oversee the Group's progress towards its goals. This is formally documented in a schedule of matters reserved for board approval and include; Strategy and Business Plans, including annual budget, new stores and acquisitions Structure and Capital including dividends Financial reporting and controls Internal controls on risk management and policies which includes a review of the Group's reputation as an employer, retailer and community stakeholder Setting the terms of reference for the Audit & Risk, Remuneration and Nominations Committees Significant contracts and expenditure Communication with shareholders Remuneration and employment benefits Changes to the board comparison Each member of the Board undertakes annually a structured questionnaire style review of the effectiveness of the Board, as a collective and the contribution by each Director. This review encompasses a review of how effective the Board is in relation to; Setting out the vision and strategy Managing and communicating risk and implementing internal control Articulating the strategy through corporate communications and investor relations Meeting the needs and objectives of our shareholders The cost effectiveness of the governance structure of the Group Having appropriate board structure and processes including information flow and support for the board The Board being responsible and accountable The Board having a good balance regarding diversity of skills, capabilities and contribution, and The performance of the Board members The Chairman then leads specific discussion on the results of the review and how the Board can develop its effectiveness. No major changes to the function and focus of the Board arose from this year's evaluation, however, the findings will be used as the basis of future discussions by the Board, and the Nomination Committee, when considering short and long term succession planning. The Chairman will continue to meet regularly with the Non-Executive Directors without the Executive Directors being present. There are no plans to change the Board composition at this time and believes that is has the appropriate governance framework and internal controls for a FCA regulated business of its size. Board Committees The board has delegated specific responsibilities to the Audit & Risk, Remuneration and Nomination Committees. Each Committee has terms of reference setting out its duties, authority and reporting responsibilities. The terms of reference of each Committee are kept under review to ensure they remain appropriate and reflect any changes in legislation, regulation or best practice. Each committee comprises the three Non-Executive directors. Audit and Risk Committee The Audit and Risk Committee is responsible for ensuring that the financial performance of the Group is properly reported and reviewed. Its role includes monitoring the integrity of the financial statements (interim and annual accounts and results announcements), reviewing any changes to accounting policies, reviewing and monitoring the extent of the non-audit services undertaken by external auditors, advising on the appointment of external auditors and reviewing the effectiveness of the Group's internal controls and risk management systems. The members of the Audit & Risk Committee are: Simon Herrick (Chair) Andrew Meehan Stephen Smith The main duties of the Audit and Risk Committee are set out in its terms of reference (click here to read). Nomination Committee Report The Nomination Committee is primarily responsible for: Identifying and nominating individuals to fill Board vacancies; Evaluating the structure and composition of the Board with regards the balance of skills, knowledge, experience and making recommendations accordingly; Drafting the job descriptions of all Board members; Reviewing the time requirements of the Non-Executive Directors Giving full consideration to succession planning Reviewing the leadership of the Group The members of the Nominations Committee are: Andrew Meehan (Chair) Simon Herrick Stephen Smith The main duties of the Nominations Committee are set out in its terms of reference (click here to read). Remuneration Committee The Remuneration Committee is primarily responsible for reviewing all senior executive appointments and determining the Group's policy in respect of terms of employment including remuneration packages of Executive Directors. The Committee will meet at least twice a year and at other times as the Chairman sees fit. The members of the Remuneration Committee are: Simon Herrick (Chair) Andrew Meehan Stephen Smith Our remuneration is to: Include a competitive mix of base salary, pension, annual bonus and long term incentives, with an appropriate proportion of the package determined by stretching targets linked to the Group's performance; Promote the long-term success of the Group in line with our strategy; and Provide appropriate alignment between the interests of shareholders and executives including minimum shareholdings. The main duties of the Remuneration Committee are set out in its terms of reference (click here to read). Date on which this information was last reviewed: 21st May 2021 About Ramsdens Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Facebook Twitter Useful Links AIM Rule 26 About Us Shop Jewellery Shop Currency Our Services Gender Pay Report Modern Slavery & Human Trafficking Contact Contact Us +44 (0) 1642 579957 enquiries@ramsdensfinancial.co.uk Ramsdens is a trading name of Ramsdens Financial Limited and is authorised and regulated by the Financial Conduct Authority for consumer credit activities. Our firm reference number is 703463 and we can be found on the Financial Services Register. This authorisation and regulation is limited to the provision of Pawnbroking and credit brokerage and excludes all other services offered by Ramsdens. Ramsdens Financial Limited is registered in England and Wales. Registration Number: 8811656. Registered Office: Unit 16, The Parkway Centre, Coulby Newham, Middlesbrough, TS8 0TJ.