Our Governance Approach

The Directors are committed to maintaining high standards of corporate governance. The Board aims to comply, as far as practicable given the Company’s size, with the provisions of the Combined Code on Corporate Governance issued by the Financial Reporting Council (“Combined Code”) in June 2008, as modified by the recommendations of the Quoted Companies Alliance of which the Company is a corporate member. As an AIM quoted company, the Company is not required to comply with the Combined Code but it is applied as far as it is appropriate, with explanations being provided for the reasons of any non-compliance in the Company’s Annual Report.

The Combined Code is available at www.frc.org.uk/corporate/combinedcode.cfm.