Corporate Governance

The Board is responsible for formulating, reviewing and approving the Company’s strategies, budgets and corporate actions.

The Directors have responsibility for, and recognize the importance of implementing and maintaining, high standards of corporate governance and intend that the Company will comply with the Combined Code and the Quoted Companies Alliance’s ‘Guidance for Smaller Quoted Companies’ in such respects as are appropriate for a company of its size, nature and stage of development.

The Board has also considered the guidance issued by the Institute of Chartered Accountants in England and Wales (Commonly known as the Turnball Report) concerning the internal requirements of the Combined Code. The Board intends to regularly review key business and financial risks facing the Group in the operation of its business.

The Board has established an audit committee, a remuneration committee and a nomination committee, whose membership is as follows:

Each committee has formally delegated duties and responsibilities. The audit, remuneration and nomination committees will invite other members of the Board and external advisors to join meetings where appropriate.

Company Secretary – John Bottomley (SGH Martineau Company Secretarial LLP)

The Company operates a share dealing code for Directors as required by the AIM Rules.