The Company is led and controlled by the Board of Directors with two Executive Directors
and three independent Non-Executive Directors. The Chairman is responsible for leadership of the Board and
ensuring its effectiveness in all aspects of its role. The Non-Executive Directors constructively challenge and help
develop proposals on strategy. The Board has adopted a formal schedule of matters specifically reserved to the
Board for its decision concerning key areas across the Group's activities, thereby ensuring that all major decisions
affecting the Group are taken at Board level. This list of matters reserved to the Board can be found here.
The Directors recognise the importance of sound corporate governance commensurate with the size and nature of the
Company and the interests of its Shareholders. The Directors therefore intend to comply with the principles of the
Quoted Companies Alliance Corporate Governance Code for Small and Mid-Size Quoted Companies ("QCA Code").
The UK Corporate Governance Code does not apply to companies quoted on AIM.
The audit committee comprises three independent Non-Executive Directors and meets at least twice each year.
The audit committee must consider, amongst other matters: (i) the integrity of the financial statements of the
Company, including its annual and interim accounts and the effectiveness of the Company's internal controls and risk
management systems; (ii) auditors'
reports; and (iii) the terms of appointment and remuneration of the auditor. The committee supervises and monitors,
and advises the Board on, risk management and control systems and the implementation of codes of conduct. In
addition, the audit committee supervises
the submission by the Company of financial information and a number of other audit-related issues.
A link to the audit committee terms of reference can be found here.
Share Dealing Code
The Directors will comply, and procure compliance, with Rule 21 of the AIM Rules for Companies relating to dealings
by Directors and other applicable employees in the Company's securities and, to this end, the Company has adopted
an appropriate share dealing code.
Anti-Bribery and Anti-Corruption Policy
The Company has adopted an appropriate anti-bribery and anti-corruption policy to combat the risks
associated with bribery and corruption which may be applicable to the Group.