The board of Wensum PLC has formally established the following committees and agreed their terms of reference. These committees are as follows:

Audit Committee
The Audit Committee comprises Michael Hall, Stephen Dorrell and John Newman. The committee is chaired by John Newman. It meets not less than twice a year and is responsible for ensuring that the financial performance of the Group is properly reported on and monitored. The Audit Committee considers the appointment and fees of the external auditors and discusses with them the scope of the annual audit. The Audit Committee reviews the external auditors’ management letter. As part of its duties, the Audit Committee reviews the half year and annual financial statements for compliance with accounting standards, statutory obligations and the requirements of the London Stock Exchange in relation to the AIM Rules for Companies. The Audit Committee reviews the effectiveness of the internal controls of the Group.

Remuneration and Nominations Committee
The Remuneration and Nominations Committee comprises Stuart Lyons , Michael Hall, Stephen Dorrell and John Newman.  The Remuneration and Nominations Committee is chaired by Michael Hall, it meets not less than twice a year and is responsible for reviewing and determining the Group’s policy on executive remuneration. Executive remuneration packages are designed to ensure that the Group’s executive directors and senior employees are fairly rewarded for their contributions to the Group.

The Committee is also responsible for reviewing the size and composition of the Board and nominating candidates for the approval of the Board. The members of the Remuneration and Nominations Committee have no personal interest, other than as Shareholders, in the outcome of their decisions and seek to serve the interests of Shareholders in ensuring the success of the Group.

The fees of the non-executive directors are determined by the executive directors and confirmed by the full Board, excluding the non-executive director concerned. The non-executive directors do not have contracts of service but have been appointed on terms set out in letters of appointment.

The Chief Executive will attend meetings of the Remuneration and Nominations Committee except when his own performance and remuneration are under review.