Corporate Governance

The Board of Directors are responsible for determining, implementing and reviewing the strategy, budgeting and corporate actions of the Company. The Directors recognise the importance of sound corporate governance and whilst the FRC Combined Code on Corporate Governance formally applies only to companies listed on the London Stock Exchange, the Company has developed procedures to ensure that as far as is practicable it complies with most of the main principles of the Combined Code in line with its size and stage of corporate evolution.

To that purpose, the Board has established the following committees with formally delegated rules and responsibilities.

Remuneration Committee


The function of this committee is to review and recommend compensation strategies in order to recruit and or retain executive board members of a sufficient calibre to deliver the Company Business plan.

Members

Keith Evans, John Watkins, Bill Duffy


Audit Committee


The function of this committee is to receive the audited accounts and report of the Company appointed auditors. To scrutinize and clarify; qualifications, recommendations and/or observations within the audited accounts and report. To present the above to the Company Board and subsequently review the effectiveness of resultant corrective and/or preventative measures.

Members

Keith Evans, John Watkins, Bill Duffy


Nomination Committee


The function of this committee is to meet as necessary to consider appointments to the Board of Directors and to coordinate succession planning. The Company operates a share dealing code for Directors as required by the AIM rules.

Members

Keith Evans, John Watkins, Bill Duffy