The Directors support high standards of corporate governance. The Board intends to comply with the corporate governance guidelines for AIM companies, devised by the Quoted Companies Alliance, so far as is reasonably practicable and appropriate taking into account the Company's size.
The Directors have established a remuneration committee and an audit committee. The remuneration committee will review the performance of the executive directors and will set their remuneration, determine the payment of bonuses to executive directors and consider bonus and option grants. No member of the Board will be permitted to participate in discussions or decisions concerning his own remuneration. Membership of the remuneration committee is comprised of the following Non Executive Directors; Barclay Forrest, Chairman, supported by Alex Worrall and Demetri Pappadopoulos. The audit committee will determine the application of the financial reporting and internal control principles, including reviewing the effectiveness of the Company's financial reporting, internal control and risk management procedures and the scope, quality and results of the external audit. Membership of the audit committee is comprised of the following Non Executive Directors; Alex Worrall, Chairman, supported by Barclay Forrest and Demetri Pappadopoulos.
