Corporate Governance & Anti-Bribery Statement

The Board is committed to maintaining high standards of corporate governance and adheres to the Quoted Companies Alliance’s (QCA) Corporate Governance Code for small and mid-size quoted companies (the “Code”).

Changes to AIM rules on 30 March 2018 require AIM companies to comply or explain against a recognised corporate governance code by 28 September 2018. The Code was revised in April 2018 and sets out ten broad principles of corporate governance, states what are considered to be appropriate corporate governance arrangements for growing companies and requires companies to provide an explanation about how they are meeting the principles through certain prescribed disclosures.

The Chairman leads the Board and is responsible for its overall effectiveness in directing the Company. He manages the Board agenda and ensures that all Directors receive accurate, timely and clear information and effectively contribute their various talents and experience in the development and implementation of the Company’s strategy. He ensures that the nature and extent of the significant risks the Company is willing to embrace in the implementation of its strategy are challenged and determined by the Board. The Chairman is responsible for ensuring that the Board implements, maintains and communicates effective corporate governance processes and for promoting a culture of openness and debate designed to foster a positive governance culture throughout the Company.

The Board has considered how each principle is applied and provides below an explanation of the approach taken in relation to each and how they support the Company’s medium to long-term success.

The Board considers that it does not depart from any of the principles of the QCA Code.

Principal 1: Establish a strategy and business model which promote long-term value for shareholders

Principal 2: Seek to understand and meet shareholder needs and expectations

Principal 3: Take into account wider stakeholder and social responsibilities and their implications for long-term success.

Principal 4: Embed effective risk management, considering both opportunities and threats, throughout the organisation

Principal 5: Maintain the Board as a well-functioning, balanced team led by the Chair

Principal 6: Ensure that between them the Directors have the necessary up-to-date experience, skills and capabilities

Principal 7: Evaluate Board performance based on clear and relevant objectives, seeking continuous improvement

Principal 8: Promote a culture that is based on ethical values and behaviours

Principal 9: Maintain governance structures and processes that are fit for purpose and support good decision-making by the Board

Principal 10: Communicate how the Company is governed and is performing by maintaining a dialogue with shareholders and other relevant stakeholders

Page last updated 12th November 2018

View Anti-Bribery Statement

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