The Directors support high standards of corporate governance and it is the policy of the Company to comply with current best practice in UK corporate governance to the extent appropriate for a company of its size. The Company complies with the UK Corporate Governance Code published in September 2014 by the Financial Reporting Council (as amended from time to time) (the “Corporate Governance Code”), except as set out below:
William Franke, the Chairman, does not meet the independence criteria set out in the Corporate Governance Code, given that he is the Managing Partner of Indigo. However, given the benefits for the Company of his recognised experience in the airline industry, the Board believes that Mr Franke should continue as Chairman after Admission.
Save as set out above, the Board intends to continue to comply fully with the requirements of the Corporate Governance Code and will report to Shareholders on compliance with the Corporate Governance Code in accordance with the Listing Rules.
The Company has adopted a code of securities dealings in relation to the Ordinary Shares which is based on the Model Code as published in the Listing Rules. The share dealing code will apply to the Directors, Senior Managers and other relevant employees of the Group.
The Company has implemented internal procedures and measures designed to ensure compliance by it and other members of the Group with the UK Bribery Act 2010 (as amended).