02393 552004

Corporate Governance

The Company complies with the requirements of the Corporate Governance Guidelines for Smaller quoted Companies published by the Quoted Companies Alliance from time to time, to the extent that they consider it appropriate.

The Company is subject to the City Code on Takeovers and Mergers, as published by the Takeover Panel and updated from time to time.

Directors Responsibilities

The board consists of four executive Directors and three non-executive Directors who each contribute to the functioning of the board. The board meets on a regular basis and has a formal schedule of matters specifically reserved for its consideration. The board is specifically responsible for overall company strategy, including but not restricted to the consideration of operating and financial performance, acquisition policy, capital expenditure and senior personnel appointments.

The board has established a remuneration committee and an audit committee with responsibilities formally delegated by the board.

Remuneration Committee

The Remuneration Committee currently comprises the two non-executive Directors and one executive Director. The committee is responsible for reviewing and determining the company policy on executive remuneration and the allocation of long term incentives to executives and employees.

Audit Committee

The Audit Committee comprises the two non-executive Directors. The committee is responsible for ensuring that the financial performance of the company is properly monitored and reported on and that any such reports are understood by the board.