The Directors and Proposed Directors recognise the importance of sound corporate governance and intend to observe the requirements of the Code of Best Practice, as published by the Committee on Corporate Governance (commonly known as the “Combined Code”) to the extent they consider appropriate in light of the Company’s size, stage of development and resources.

The Company’s articles can be downloaded from here.

The Company has established an Audit Committee and a Remuneration Committee. The members of each committee are Luciano Martucci (Chairman), Martin Perrin and Petter Neby.

Audit Committee

The terms of reference for the Audit Committee provide that it will receive and review reports from the Company’s management and the Company’s auditors relating to the annual and interim accounts and the accounting and internal control systems in use throughout the Enlarged Group.

Remuneration Committee

The terms of reference for the Remuneration Committee provide that it will review the scale and structure of the executive directors’ remuneration and the terms of their service contracts. The remuneration and terms and conditions of appointment of the non-executive directors will be set by the Board.