The Directors are committed to maintaining high standards of corporate governance, and propose, so far as is practicable given the Company’s size and nature, to comply with the QCA Code. The Company holds regular board meetings at which financial, operational and other reports are considered and, where appropriate, voted on.

Apart from regular meetings, additional meetings are arranged when necessary to review our investment strategy, planning, financial performance, risk and capital expenditure, and human resources management.

Board of Directors

To enable the Board to perform all its duties, all Directors will have full access to all relevant information and to the services of the Company Secretary.

The Directors have established an audit committee. The audit committee comprises of Gregory Collier and Tracy Davy and is chaired by Mr. Collier. The audit committee meets at least twice a year. The committee will review the Company’s annual and interim financial statements before submission to the Board for approval. The committee will review regular reports from management and the external auditors on accounting and internal control matters. Where appropriate the committee will monitor the progress of actions taken in relation to such matters. The committee will also recommend the appointment of, and review the fees of, the external auditors.

Due to the size and composition of the Board, there is neither a nominations committee nor a remuneration committee and the full Board assumes the role and functions of such committees.