THE DIRECTORS HAVE PLEASURE IN SUBMITTING THEIR REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018.
DIRECTORS’ REPORT The information regarding the principal activity, business review, business environment, future developments, strategy, and risk and mitigation is shown in the Strategic Report and not the Directors’ Report. Directors and their Interests The Directors who served during the year and up to the date of approval of the Financial Statements, and where appropriate, their respective terms of office are as follows: E Østergaardxx Appointment period to 30 April 2020 (Chair) M McNeill*x
Appointment period to 30 April 2020
P Croucher**x
Appointed 1 August 2017 Appointment period to 31 July 2020
A Graham*x
Appointed 1 August 2017 Appointment period to 31 July 2020
M Forrest**x
Retired 31 July 2017
A Whyte
Retired 31 July 2017
K P Hobbs
Chief Executive
J Anderson
Director of Vessels
L E Spencer
Director of Harbours
G M Bruton
Director of Finance
*x
*
Member of Audit and Risk Committee
** Chairman of Audit and Risk Committee x
The Company is wholly owned by the Scottish Ministers. Employees The Company has a policy of equal opportunities and non-discrimination in all aspects of employment. Disclosure of Information to the Auditor The Directors who held office at the date of approval of this Directors’ Report confirm that, so far as they are each aware, there is no relevant audit information of which the Company’s auditor is unaware; and each Director has taken all the steps that he/she ought to have taken as a director to make himself/ herself aware of any relevant audit information and to establish that the Company’s auditor is aware of that information. Auditor A resolution to appoint Scott-Moncrieff, Chartered Accountants, as auditor of the Company is to be proposed at the forthcoming Annual General Meeting. By order of the Board
Member of Remuneration Committee
xx Chairman of Remuneration Committee Four meetings of the Audit and Risk Committee were held during the year. Two members of the committee attended both meetings. One meeting of the remuneration committee was held during the year. 14
None of the Directors had any beneficial interest in the share capital of the Company at any time during the year.
Caledonian Maritime Assets Ltd.
Kevin Hobbs Director
25 September 2018. Municipal Buildings, Fore Street, Port Glasgow PA14 5EQ.