The Enlarged Board is committed to maintaining high standards of corporate governance. The Company has developed appropriate measures to ensure that it complies, as far as possible, with the Combined Code so far as is practicable for a company of its size and stage of development.

The Board considers that the current non-executive Directors bring a wealth of experience to the Company and a range of skills appropriate to facilitate the next stage of the company’s growth. The Board recognises none of the Directors would be regarded as independent non-executive directors under the Listings Requirements and the Combined Code and therefore the company is not compliant with the code in this regard. However the Board considers that the Directors past record on managing public companies do not jeopardise shareholders interests relating to the matter that none of the directors are independent according to the Code.

The Enlarged Board has also considered the guidance published by the Institute of Chartered Accountants in England and Wales (commonly known as the Turnbull Report) concerning the internal control requirements of the Combined Code. The Enlarged Group will regularly review and manage key business risks in addition to managing financial risks facing the Company in the operation of its business.

The Enlarged Board has established a Remuneration Committee comprising three of the non-executive directors. The Remuneration Committee reviews the performance of the executive Directors and determines the remuneration of the executive Directors and the basis of their service agreements with due regard to the interests of Shareholders. The Remuneration Committee also determines the payment of any bonuses to executive Directors and the grant of options to employees, including executive Directors, under the Company’s share option scheme. The Remuneration Committee comprises Charles Needham and Rob Still.