Corporate Governance

As a Guernsey incorporated AIM-listed company, the Company is not required to comply with the Combined Code. However, it is the Directors’ current intention to comply with the main provisions of the Combined Code to the extent they consider appropriate and practicable, taking into account the size, board structure and stage of development of the Company and the nature of its business.

The Board had established an audit committee which initially comprises Lewis Grant, as chairman, Richard Crowder, Patrick Firth and Rupert Evans.

The audit committee meets twice a year and is responsible for ensuring that the financial performance of the Company is properly reported on and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures and accounting policies.

The Company does not intend to create remuneration and nomination committees as the Directors consider that, given the nature and scale of the Group’s operations, such committees would not be appropriate. All matters relating to remuneration and nominations will be dealt with by the Board as a whole.