The maintenance of effective Corporate Governance is a key priority for the Board. Whilst the Group is not subject to the UK Corporate Governance Code (the Code) applicable to companies listed on the Official List, the Directors recognise the importance of sound Corporate Governance. The Group seeks to comply with the Corporate Governance Guidelines for Smaller Quoted Companies as published by the Quoted Companies Alliance, as far as applicable.

Takeovers and Mergers 
The Group is subject to the UK City Code on Takeovers and Mergers.