As a Board, we have made a particular effort during 2018 to improve our dialogue and engagement with shareholders. The additional statement on the Company’s remuneration policy and Report announced and posted on the Investment Association’s Public Register in response to shareholder feedback is an indication of the Board’s commitment to such dialogue.
We will continue to review and develop our corporate governance practices in 2019 to ensure full compliance with regulatory requirements, to strive for best practice and to ensure that all our practices promote the long-term success and development of our business as a whole for the benefit of all its stakeholders and the communities in which we operate.
The company complies with all of the provisions of the Code, with the following exceptions:
E.2.3 All directors did not attend the 2018 Annual General Meeting, however those directors who did not attend were available by teleconference to answer questions from shareholders.
Nostrum is committed to transparency in its business activities and payments to governments.
Nostrum’s payments to governments report provides an overview of the payments to governments made by Nostrum Oil & Gas PLC and its subsidiary undertakings (hereinafter referred to as “Nostrum”) in the relevent year as required under the UK’s Report on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to LSE listed companies like Nostrum that are involved in the exploration, prospection, discovery, development and extraction of oil and natural gas deposits. This Report is also intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom.