The Board is responsible for the strategy, effective control and management of Adalta Real. There is a list of individual responsibilities below, which defines the majority of functions within the Board. There is a strong and independent non-executive element on the Board.
The Board delegates authority to the Executive Directors of the Company and receives regular reports in between as well as at the regular monthly schedule of Board Meetings, together with further meetings as required by the ongoing business of the Company.
The Executive Chairman is responsible for chairing and leading the Board, for facilitating the effective contribution of all members, for ensuring that it operates effectively in the interests of the shareholders and for the implementation of the Company’s strategy, including the predominant responsibility for the commercial property development activities and long term commercial property investments of the Company. He is also responsible for liaison with the Company’s external advisors, with the City establishments and for investor relations.
The Executive Director has the predominant responsibility for the commercial property Agency activities and Development Consultancy as well as close liaison with the Executive Chairman for participation in the aforementioned development and long term investment opportunities.
Joint responsibilities comprise management of internal staff and full time monitoring and participation in the Company’s performance, in conjunction with the non-executive directors of the Company.
The external Financial Controller and the external Financial and Accounts Manager are responsible for assisting the Executive Chairman and the Executive Director to ensure the efficient financial management of the Company and to develop and implement the overall business strategy.
The Company Secretary is responsible, in conjunction with the Executive Chairman, for ensuring that all Board and Committee meetings are conducted properly, that the Directors receive appropriate and up to date information prior to Board Meetings, that governance requirements are considered and implemented and that the business of each Board Meeting is accurately recorded.
The Directors may have access to independent professional advice, where needed in connection with the Company’s business, at the Company’s expense.
