Communication with shareholders

The Chief Executive and Chief Financial Officer hold regular meetings with major shareholders to review the Group’s performance and prospects. The views of shareholders are communicated to all members of the Board following such meetings. During the course of these meetings the issue of governance is discussed. Presentations to major shareholders are made at least twice yearly, after the announcement of the interim and preliminary results, details of which, together with the Group’s financial reports and other announcements, can be accessed via the Group’s website www.tuitravelplc.com

The Combined Code recommends that the Senior Independent Director meets with a range of major shareholders to gain an understanding of their views. In practice and, as a result of the extensive investor feedback provided by the Chief Executive and the Chief Financial Officer, the Senior Independent Director and other Non-Executive Directors believe that they are aware of such issues and therefore considered that it was not necessary to arrange meetings with major shareholders for this purpose during the year. However, they would make themselves available if any major shareholder requested such a meeting.

There is also an opportunity for shareholders to question the Chairman and other Directors (including the Chairmen of the Audit, Remuneration and Nomination Committees) at the Annual General Meeting. This forum also provides Non-Executive Directors with the opportunity to discuss the views of shareholders with them directly.

At general meetings:

• The Company prepares separate resolutions on each substantially separate issue and does not combine resolutions together inappropriately;
• A schedule of proxy votes cast is made available for inspection at the conclusion of the proceedings; and
• The Annual Report and Accounts is laid before shareholders at the Annual General Meeting.