The Company and the Directors aim to comply with the Combined Code on the Principles of Good Governance and the Code of Best Practice so far as is reasonably practicable for a company of our size.

The Audit Committee consists of John Baker and Jeff Harding, and is chaired by Jeff Harding. The Audit committee will determine the application of the financial reporting, internal control principles, including reviewing the effectiveness of the Company’s financial reporting and internal control and risk management procedures and the scope, quality and results of the external audit.

The Remuneration Committee consists of John Baker and Alan Burns and is chaired by John Baker. The Remuneration Committee will review the performance of the executive directors and will set their remuneration, determine the payment of bonuses to executive directors and consider bonus and option schemes. None of the executive directors will take part in discussions concerning their remuneration.

The Board of Directors meet bi-monthly for formal scheduled Board Meetings. In addition, meetings are held as required to discuss, consider and approve transactions.