CORPORATE GOVERNANCE AND BOARD COMMITTEES 

The directors intend that the Company will comply with the provisions of the Combined Code in so far as it is practicable for a company of its size. The Company has appointed 4 non-executive directors with relevant sector experience to complement the executive directors and to provide an independent view to the Board.

An audit committee, comprising 2 of the non-executive directors, has operated since the Company’s admission to AIM. The audit committee meets at least twice a year. The audit committee is responsible for ensuring that appropriate financial reporting procedures are properly maintained and reported on, and for meeting with the Group's auditors and reviewing their reports on the accounts and the Group's internal controls.

The Company has a remuneration committee, comprising 2 non-executive directors. The remuneration committee meets at least once a year. The remuneration committee is responsible for reviewing the performance of the executive directors and management, setting their remuneration, determining the payment of bonuses, considering the grant of options under any share option plan and, in particular, the price per share and the application of performance standards which may apply to any such grant.