Managing the Business

Compliance with the Combined Code

The Stagecoach Board is accountable to shareholders for the Group’s activities and is responsible for the effectiveness of corporate governance practices within the Group.

The Group's Annual Report sets out Stagecoach Group’s corporate governance arrangements and includes the disclosures recommended by the Financial Reporting Council (“FRC”) UK Corporate Governance Code (the “Code”). It describes how the principles of good corporate governance that are set out in the Code have been applied. In line with best practice, separate reports are provided in the Annual Report from each of the Audit Committee, Nomination Committee, Health, Safety and Environmental Committee and Remuneration Committee.

The Code issued in September 2014 applied to the Company’s financial year from 1 May 2015 to 30 April 2016. The Directors believe that throughout the year ended 30 April 2016 the Group complied with all of the provisions of the Code.

A copy of the Code is available at

The Group also complies with the corporate governance requirements of the Financial Conduct Authority’s Listing Rules, and Disclosure and Transparency Rules.