AIM rule 26

The information given below is for compliance with AIM Rule 26.

• Description of business
• Board of directors
• Corporate governance
• Country of incorporation and main country of operation
• Advisers
• Exchanges and shareholding details
• Reports and accounts
• Regulatory announcements

Description of business

Electric Word provides specialist information for niche communities of professionals and consumers in a wide range of different publishing formats, including subscription newsletters, magazines, e-zines, websites, conferences, exhibitions, books, special reports, directories and training.

Board of directors

Julian Turner, Chief Executive

Julian Turner, aged 49, led the flotation of Electric Word plc as Chief Executive in March 2000. He was previously the Director of Marketing of Euromoney Institutional Investor plc for three years. This followed five years at Guardian Newspapers Limited, where he had commercial mangement roles in the Product Development Unit, Guardian Magazines and Wired Magazine (UK). Before starting his career in subscription-based publishing he spent four years in postgraduate research in medievalnglish political history. 

Quentin Brocklebank, Finance Director

Quentin Brocklebank, aged 40, joined Electric Word as Finance Director on 2 July 2007 and was appointed to the board with effect from the same date. He joined from Dr Foster Intelligence, the leading health information business. He previously worked at Informa plc for over seven years in several senior financial positions. These included Group Financial Controller, Divisional Finance Director and CFO of a US subsidiary. He is a chartered accountant and worked at KMPG Audit Plc in London. 

Peter Rigby, Chairman

Peter Rigby, aged 55, joined Metal Box after qualifying as an accountant. In 1981 be moved into the media industry joining Book Club Associates, a joint venture between WH Smith and Doubleday. In 1983 he joined Stonehart Publications which was acquired by International Business Communications (later renamed IBC) in 1986. After two years as Finance Director of IBC he was appointed Deputy Chief Executive and later its Chief Executive, leading IBC's substantila geotraphic expansion. Since the merger of IBC and LLP in 1998, by which Informa plc was created, he has been Executive Chairman or Chief Executive. Peter was appointed Non-Executive Chairman of Electric Word in March 2004. 

Stephen Routledge

Stephen Routledge, aged 47, is an investment banker in the media industry. After a career at Lazard and HSBC he founded Trillium Partners in 2003. Trillium Partners is a specialist media industry advisory house which acts for public and private clients on a range of corporate finance transactions. Stephen is a law graduate and a chartered accountant. Stephen joined the Electric Word board of directors in September 2006.

Corporate governance

The policy of the board is to manage the affairs of the Company in accordance with the Principles of Good Governance and Code of Best Practice as set out in Section 1 of the Revised Combined Code. The directors support the principles underlying the requirements insofar as is appropriate for a company of the size of Electric Word plc.

The board and its committees

Board meetings are scheduled to take place once a quarter and there is contact between meetings as required. The meetings are held to set and monitor strategy, review trading performance, guide business development, examine acquisition possibilities and approve reports to shareholders. In addition, the board approves the annual forecast and any re-forecasts. Procedures are established to ensure that appropriate information is communicated to the board in a timely manner to enable it to fulfil its duties.

The board is comprised of four executive and two non-executive directors. Each year one third of the board are subject to re-election by rotation.

The board has separate roles for Chairman and Chief Executive. The board has established an Audit Committee, which comprises the non-executive Chairman Peter Rigby and Stephen Routledge. The Audit Committee meets twice a year. It is responsible for meeting the auditors, reviewing the annual report and accounts before their submission to the board ensuring that the financial performance of the Company is properly reported on and monitored, reviewing the recommendations of the auditors on accounting policies, internal control and other findings of the audit and making recommendations to the board on the scope of the audit and the appointment of the auditors. The Audit Committee keep the independence and objectivity of the auditors under review and a formal statement of independence is received from the external auditors each year.

The board has established a Remuneration Committee, which comprises the non-executive Chairman Peter Rigby and Stephen Routledge. The remuneration committee meets twice a year and reviews the performance of the executive directors and the scale and structure of their remuneration having due regard to the interests of the shareholders. The Committee also approves the granting of share options.

The board has not established a Nomination Committee as it regards the approval and appointment of directors (whether executive or nonexecutive) as a matter for consideration by the whole board.

Country of incorporation and main country of operation

Registered in England
No: 3934419

Main country of operation
United Kingdom

Registered office
33–41 Dallington Street
London EC1V 0BB

Constitutional documents

• Articles of Association

Advisers

Auditors: Baker Tilly, Chartered Accountants, 2 Bloomsbury Street, London WC1B 3ST

Solicitors: Memery Crystal, 44 Southampton Buildings, London WC2A 1AP

Nominated adviser and broker: Panmure Gordon & Co, Moorgate Hall, 155 Moorgate, London EC2M 6XB

Registrars: Computershare Investor Services Plc, PO Box 82, The Pavilions, Bridgwater Road, Bristol BS99 7NH

Exchanges and shareholding details

Restrictions

There are no restrictions on the transfer of securities.

Other exchanges

The company is not listed on any other exchanges or trading platforms.