The Board has three Committees: the Audit Committee, the Management Engagement Committee and the Nomination Committee. Given the Board’s size, it is not felt appropriate for the Company to have a separate remuneration committee and the full Board deals with the functions that this committee would normally carry out.
The Committee’s terms of reference are available below:
The Audit Committee is comprised of Lynette Lackey (Chair), Martin Meech and Aimée Pitman, all of whom are independent non-executive Directors.
The Audit Committee meets at least two times a year within the appropriate reporting and audit cycle. The Committee’s responsibilities include monitoring the financial integrity of the financial statements of Warehouse REIT plc, communication with the Company’s auditor, reviewing the effectiveness of the Company’s internal control systems and risk management systems and overseeing the process for managing risks across Warehouse REIT plc.
The Audit Committee focuses in particular on compliance with legal requirements, accounting standards and the rules of the FCA and ensuring that an effective system of internal financial control is maintained. The ultimate responsibility for reviewing and approving the annual report and accounts and the half-yearly reports, remains with the Board of Directors of Warehouse REIT plc.
Management Engagement Committee
The Management Engagement Committee is made up of three non-executive directors, Aimee Pitman (Chair), Neil Kirton, and Martin Meech.
The Management Engagement Committee meets at least once a year within the appropriate reporting and audit cycle. The Committee’s responsibilities include reviewing the performance of the Investment Manager, Investment Advisor and the Company’s other main service providers over the year and to recommend to the Board a schedule of re-tender for each of the appointments. The Committee is also responsible for overseeing any amendments to the Investment Management Agreement between the Company, the Investment Manager and the Investment Advisor.
The Nomination Committee is made up of three non-executive directors, Neil Kirton (Chair), Simon Hope, and Martin Meech. The Board believes it is appropriate for Simon Hope, a non-independent Director, to be a member of the Nomination Committee as he makes a valuable contribution, which enhances the Committee’s operation and its interaction with the Board.
The Nomination Committee meets at least once a year within the appropriate reporting and audit cycle. The Committee’s responsibilities include considering and making recommendations to the Board in respect of appointments to the Board. It is also responsible for keeping the structure, size and composition of the Board under regular review, and for making recommendations to the Board with regard to any changes necessary. The Nomination Committee also considers succession planning and composition of the Board committees.
Download the matters reserved for the board
Download the role profile for the Senior Independent Director
Download the role profile for the Chairman