Board Committees

Committees

The Audit Committee assists the Board in discharging its responsibilities with regard to financial reporting, external and internal controls, including reviewing and monitoring the integrity of the Group’s Аnnual and interim financial statements, reviewing and monitoring the extent of the non-audit work undertaken by the Group’s external auditors, advising on the appointment of such external auditors, overseeing the Group’s relationship with its external auditors, reviewing the effectiveness of the external audit process, and reviewing the effectiveness of the Group’s internal control and review function. The ultimate responsibility for reviewing and approving the Аnnual report and accounts and the half-yearly reports remains with the Board. The audit committee will meet not less than twice a year.

Audit Committee members:

Malcolm Groat

Non-Executive Chairman

Paul James Auger

Non-Executive Director

Remuneration committee

The Group has established a Remuneration Committee to review the performance of the Executive Directors and set the scale and structure of their remuneration and the basis of their service agreements with due regard to the interests of Shareholders. In determining the remuneration of Executive Directors, the Remuneration Committee will seek to enable the Group to attract and retain executives of the highest calibre. The Remuneration Committee also makes recommendations to the Board concerning the allocation of any share awards. No Director is permitted to participate in discussions or decisions concerning their own remuneration.

Remuneration Committee members:

Malcolm Groat

Non-Executive Chairman

Paul James Auger

Non-Executive Director