As recommended by the new Combined Code, the terms of reference of Caledonia's board committees are made available from the links below. A copy of the terms of reference is also available on request.

The board committees

The board of Caledonia Investments plc has delegated certain specific areas of responsibility to standing committees.

The Audit Committee reviews the company’s financial reporting procedures and all financial information issued to shareholders. It also considers the scope, cost effectiveness and objectivity of the external audit, the level of non-audit services provided by the auditors and the independence of the auditors.
Terms of reference of the Audit Committee (pdf, 19Kb).

The Governance Committee keeps under review corporate governance issues relating to the company and in particular monitors the ability of each director to act in the interests of shareholders as a whole, to exercise independence of judgement free from relationships or circumstances which are likely to affect, or could appear to affect, his judgement.
Terms of reference of the Governance Committee (pdf, 11Kb).

The Nomination Committee reviews the structure, size and composition of the board and provides advice and recommendations to the board in relation to any necessary changes, succession planning, new appointments and the re-election of non-executive directors.
Terms of reference of the Nomination Committee (pdf, 10Kb).

The Remuneration Committee provides advice and recommendations to the board on the company’s framework of executive remuneration. This committee also determines the individual remuneration packages of the chairman and executive directors and is responsible for the grant of options under the company’s executive share option schemes.
Terms of reference of the Remuneration Committee (pdf, 12Kb).