Corporate Governance

The Directors acknowledge the importance of good governance and although compliance with the UK Corporate Governance Code is not compulsory for companies admitted to AIM, the Directors intend to apply the principles as far as practicable and appropriate for a company of its nature and size. It is also the intention of the Directors to use their reasonable endeavours to ensure that the Company will comply with the QCA Corporate Governance Guidelines for Smaller Quoted Companies.

Due to size of the company, the board has not established a remuneration or audit committee. The Company will establish such committees as and when appropriate.