Menu

AIM Rule 26

The following information is disclosed for information purposes only in accordance with Rule 26 of the AIM Rules for Companies.

Description of the business (updated 01/12/2015)

Please click on the link below for a description of the business.
Description of the business

The names of the directors and biographical details (updated 09/09/14)

Please click on the link below for the names of the directors and brief biographical details of each.
Directors

Board Directors and Board Committees (updated 08/12/2015)

The Board of Directors

The Board comprises three executive directors and four non-executive directors one of which is the chairman Mr John Bentley (non-executive Chairman).  The Board is responsible to the shareholders for the proper management of the Company and meets regularly to: review trading performance, set and monitor strategy, examine acquisition and divestment possibilities; approve: major capital expenditure projects and corporate overhead costs, significant financing matters; and report to shareholders.

Remuneration Committee

The Remuneration Committee is comprised of Mr Tim Read (Chairman of the Committee), Mr John Bentley, Ms Jorunn Saetre and Mr Roger Witts.  The Committee assists the Board in determining the remuneration arrangements and contracts for the executive directors and senior employees.

Audit Committee

The Audit Committee is comprised of Mr Roger Witts (Chairman of the Committee), Mr John Bentley, Mr Tim Read and Ms Jorunn Saetre.  The Audit Committee reviews the Company’s accounting policies, financial reporting, internal control, compliance and risk management and maintains an objective and professional relationship with the auditors.

Terms of reference of the Committee can be found via the link below.
Audit Committee Terms of Reference

Nominations Committee

The Nominations Committee is comprised of Mr John Bentley (Chairman of the Committee), Mr Tim Read, Ms Jorunn Saetre and the Chief Executive.  The Nominations Committee is responsible for considering and providing advice concerning appointments or reappointments to the Board.

Incorporation and registration details

The Company is incorporated in England and Wales no 04622251 with its registered office at 30 Crown Place, London, EC2A 4ES

Main Country of Operation

The Company is headquartered in the United Kingdom and operates mainly in the United Kingdom and Norway.

Faroe Petroleum is subject to the rules of the UK City Code on Takeovers and Mergers.

Corporate governance and the UK Corporate Governance Code (updated 20/05/14)

The directors of Faroe Petroleum support high standards of corporate governance and comply, in so far as is practicable given the Company’s size with the UK Corporate Governance Code 2012 (the “Code”).  In its annual report, the Company confirms its compliance with the Code and specifies any provisions with which its has not complied.

Current constitutional documents (updated 28/06/16)

The Company’s constitutional documents are represented by its Articles of Association.
2016 Articles of Association of Faroe Petroleum

Details of any other exchanges or trading platforms (updated 22/05/09)

The Company is not listed on any other exchanges or trading platforms.

Number of securities in issue (updated 18/07/2016)

Please click on the link below for details of the number of securities in issue, the number of securities held as treasury shares and insofar as the Company is aware, the percentage of securities that is not in public hands (i.e. owned by directors or strategic/non-financial investors) together with the identity and percentage holdings of significant shareholders.
Major Shareholders

Notices of shareholder meetings (updated 23/05/2016)

Please click on the link below for copies of all notice of shareholder meetings since February 2007.
Notice of shareholder meetings

Details of any restrictions on the transfer of securities (updated 03/01/12)

There are no restrictions on the transfer of securities.

Financial information (updated 23/05/2016)

Please click on the link below for access to the Company’s latest Annual Report.
Financial Reports

Company announcements (updated 21/07/2016)

Please click on the link below to access notifications made by the Company in the past 12 months.
Regulatory News

Admission document and circulars (updated 22/07/16)

Open Offer circular
Open Offer and Notice of General Meeting

Disclosure document (updated 15/07/2016)

Disclosure document

Advisers (updated 02/03/2015)

Please click on the link for details of the Company’s Nominated Adviser and other key advisers.
Advisers