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Investor Relations

AIM Rule26

The following information is disclosed in accordance with Rule 26 of the AIM Rules for Companies. Certain information made available below is also disclosed in accordance with the Market Abuse Regulation.

Description of the Business

Name of Directors and Biographical Details

Directors' Responsibilities and Committees

Country of Incorporation and Main Country of Operations

  • Greka Drilling Limited is incorporated in the Cayman Islands. The rights of shareholders are different from the rights of shareholders in a UK incorporated company.
  • Greka Drilling Limited's main operations are in the People’s Republic of China, and India

Corporate Governance and Takeover Regulation

  • The Board recognises the importance of sound corporate governance and intends so far as is practicable to ensure that the Company adopts policies and procedures which reflect such of the principles of the UK Corporate Governance Code (issued by the Financial Reporting Council) as are appropriate to the Company. The Cayman Islands do not have a corporate governance regime. The UK City Code on Takeovers and Mergers does not apply to the Company and there is no other such legislation or code in the Company’s country of incorporation.
  • The Company has an Audit Committee and a Remuneration Committee each with formally delegated duties and responsibilities. The Audit Committee consists of Richard Day, David Turnbull and Bryan Smart. The Remuneration Committee consists of Randeep Grewal, Bryan Smart and Sean Mulhearn.
  • The Audit Committee determines the terms of engagement of the Company's auditors and also determines, in consultation with the auditors, the scope of the audit. The Audit Committee receives and reviews reports from management and the Company's auditors relating to the interim and annual accounts and the accounting and internal control systems in use throughout the Group. The Audit Committee has unrestricted access to, and oversees, the relationship with the Group's auditors.
  • The Remuneration Committee reviews the scale and structure of the executive Directors' and senior employees' remuneration and the terms of their service or employment contracts, including share option schemes and other bonus arrangements. The remuneration and terms and conditions of the non-executive directors is set by the entire Board. No Director or manager of the Company may participate in any meeting at which discussion or any decision regarding his or her own remuneration takes place. The Remuneration Committee also administers any share option schemes or other employee incentive schemes adopted by the Company from time to time.
  • The Board takes all reasonable steps to comply with the AIM Rules relating to directors' dealings and to ensure compliance by the Company's applicable employees, and has adopted a share dealing code for this purpose.

Constitutional Document

Details of any other exchanges or trading platforms

  • Greka Drilling Limited is admitted to trading on the AIM market of the London Stock Exchange. Greka Drilling Limited has not applied or agreed to have any of its securities admitted or traded on any other exchanges or trading platforms.

Advisers

Last Updated on November, 2016