Shares in issue and significant shareholders
MXC Capital Limited became the new parent company for the MXC group on 5 February 2015. The previous parent company MXC Capital plc was previously known as 2ergo Group plc, before changing its name to Broca plc on 16 April 2014, becoming MXC Capital plc on 12 August 2014.
The Company has one class of security – ordinary shares of no par value – and these are traded only on AIM, the market of that name operated by the London Stock Exchange. There are no restrictions on the transfer of these securities.
The number of shares in issue as at 15 May 2017 is 3,367,911,404. There are 4,575,870 shares held in Treasury.
The percentage of shares not in public hands as at 15 May 2017 is 48.20%.
Significant shareholdings as at 15 May 2017 are:
|Name of Shareholder||Shares||%|
|Marc Young, Director of MXC Capital Limited***||102,212,559||3.03%|
|Peter Rigg, Director of MXC Capital Limited****||10,897,396||0.32%|
|Paul Guilbert, Director of MXC Capital Limited||1,271,260||0.04%|
*Tony Weaver holds 561,295,760 shares personally, 12,741,521 are held by his Self Invested Pension Plan.
**Ian Smith holds 472,750,220 shares personally, 45,800,295 are held by his Self Invested Pension Plan.
***Marc Young holds 94,851,583 shares personally, 7,360,976 are held by his Self Invested Pension Plan.
**** 2,736,780 shares are held by Nicola Rigg, wife of Peter Rigg.
Corporate governance and committees
of the board
The Directors recognise the importance of sound corporate governance and comply with the provisions of the Corporate Governance Code for Small and Mid-Size Quoted Companies 2013 (“QCA Code”), as published by the Quoted Companies Alliance, to the extent they consider appropriate in light of the group’s size, stage of development and resources.
The group holds board meetings periodically as issues arise which require the attention of the board. The board is responsible for the management of the business of the group, setting the strategic direction of the group and establishing the policies of the group. It is the board’s responsibility to oversee and monitor the financial position, the business and the affairs of the group on behalf of the shareholders, to whom the directors are accountable. The primary duty of the board is to act in the best interests of the group at all times. The board also address any issues relating to internal control and the group’s approach to risk management.
The group has also established a remuneration committee (the “Remuneration Committee”) and an audit committee (the “Audit Committee”) with formally delegated duties and responsibilities.
The Remuneration Committee, which comprises Paul Guilbert as Chairman, Peter Rigg and Meriel Lenfestey will meet not less than twice each year. The committee is responsible for the review and recommendation of the scale and structure of remuneration for senior management, including any bonus arrangements or the award of share options with due regard to the interests of the shareholders and the performance of the group.
The Audit Committee, which comprises Paul Guilbert as Chairman, Peter Rigg and Meriel Lenfestey will meet not less than twice a year. The committee is responsible for making recommendations to the board on the appointment of auditors and the audit fee and for ensuring that the financial performance of the group is properly monitored and reported. In addition, the Audit Committee receive and review reports from management and the auditors relating to the interim report, the annual report and accounts and the internal control systems of the group.
The group has adopted and will operate a share dealing code governing the share dealings in the company’s shares of the board and applicable employees with a view to ensuring compliance with the AIM Rules.