As an AIM-quoted company, Richland Resources Limited (“Richland” or the “Company”) and its subsidiaries (together, the “Group”) is required to apply a recognised corporate governance code, demonstrating how the Group complies with such corporate governance code and where it departs from it.
The Directors of the Company have formally taken the decision to apply the QCA Corporate Governance Code (the “QCA Code”). The Board recognises the principles of the QCA Code, which focus on the creation of medium to long-term value for shareholders without stifling the entrepreneurial spirit in which small to medium sized companies, such as Richland, have been created. The Company will provide annual updates on its compliance with the QCA Code in its Annual Report.
The company is incorporated in Bermuda and is not subject to the UK City Code on Takeovers and Mergers. There is no equivalent to the UK City Code on Takeovers and Mergers in Bermuda but there are provisions in Articles 14 to 16 of the Company’s Bye-Laws relating to limitations on the right to hold voting securities and proportional bid approval. The Company’s Bye-Laws are available by clicking this link