Corporate Governance

The Company is listed on the Alternative Investment Market of the London Stock Exchange, and as such is not required to comply with the principles of corporate governance contained in the Combined Code. However, the Directors are committed to the highest standards of corporate governance and believe that their corporate governance practices are consistent with the spirit of the Code.

The Board

The Board of Elephant Capital plc (the “Board”) comprises six directors (the “Directors”), of which five are independent. The background and experience of each of the Directors is relevant to the company’s activities. The Board generally meets on at least four occasions each year, at which time the Directors review the investment performance, strategy and other significant matters to ensure that overall control and supervision of the business is maintained.

The Company, together with its advisors maintains a regular dialogue with institutional shareholders, and feedback is given directly to the Board, to ensure that it develops a good understanding of the views of the major shareholders. 

The Board considers that in view of its size, a separate Nomination Committee is not required, and therefore the Board as a whole fulfills the function of a Nomination Committee. Any proposal for a new director will be discussed and approved by the Board. 

The level of Directors fees is determined by the whole Board on an annual basis, and therefore a separate Remuneration Committee has not been appointed. When considering the level of Directors’ remuneration, reference is made to the industry standard and the level of work that is undertaken. 

Audit Committee

The audit committee comprises James Hauslein, Francis Hancock and Vikram Lall. It meets at least twice in each year, when it will review the scope and results of the external audit to ensure that the financial performance of the company is properly monitored, controlled and represented.

Investment Committee

The investment committee comprises Gaurav Burman, Mohit Burman, Amit Jain, and at least two other members of the Board who together, will scrutinize investment decisions.