A new borrowing experience

Our Legal and Governance Structure

MORhomes is now officially registered as a PLC whose debt will be tradable on the stock exchange. This diagram shows the governance structure we have set up

Our Board is comprised of independent non-execs who are respected figures from the housing associations and private sector finance and auditing.

The governance provisions are designed to provide for:

Separation of interests between shareholders and borrowers
Majority of suitably qualified independent non executives
Key board committees
Responsibility to lenders as well as borrowers
Application of the corporate code

Governance is embedded in MORhomes in the following ways:

The memorandum and articles of association
The composition and operation of the board
The restrictive covenants in the Bond
Commitments on the provision of Information
The Corporate Code of Governance