The Company complies with all applicable laws and regulations of a UK public company with its shares quoted on the Specialist Funds Market. The Company is not obliged to and does not currently intend to fully comply with the UK Corporate Governance Code issued by the Financial Reporting Council. The Company is committed to maintaining high standards of corporate governance and adopts an approach to governance appropriate to the size and structure of the Company acknowledging that the Directors are accountable to Shareholders for the governance of the Company’s affairs.
The Board has established an Audit Committee to assist the Board in carrying out its responsibilities in reviewing the financial reporting, internal controls and risk management of the Company. The mandate of the Audit Committee has been set out in the Audit Committee Terms of Reference. The Audit Committee is comprised of three members of the Board and in addition seeks the advice of external experts in the areas of financial reporting and audit when necessary. This ensures the necessary expertise is available to the audit committee to fulfil its mandate.