Governance
The directors recognise the value of high standards of corporate governance and take appropriate measures to ensure that the Company complies with the Combined Code to the extent they consider appropriate, taking into account the size of the Company and nature of its business.
The Company has established an audit committee. The audit committee reviews annual and interim results, receives annual and interim results and reports from the auditors, agrees auditor's remuneration and assesses the effectiveness of the audit and the internal control environment. Where necessary, the audit committee obtains specialist external advice from either the Company's auditors or other advisers.
The Company does not intend to establish remuneration and nomination committees as such committees would not be appropriate given the nature of the Company's operations. The board will review annually the remuneration of the directors and agree the level of non-executive directors' fees. Consideration will be given by the board to future succession plans for board members as well as consideration as to whether the board has the skills required to effectively manage the Company.
The Company will take all reasonable steps to ensure compliance by the directors and any employees with the provisions of the AIM Rules relating to dealings in securities of the Company and has adopted a share-dealing code for this purpose.
