Investors: Directors & Audit Committee

The Board has taken the opportunity presented by the introduction of the new combined code on Corporate Governance to review its approach to corporate governance and to consider the extent to which changes in governance should be introduced.

The Board has always felt that it should be recognised that what may be appropriate for the larger company may not necessarily be so for the smaller company, a point raised previously in the Cadbury Code of Best Practice. Where it does not comply, the Board is happy to provide its explanations for not doing so on the basis that it believes that such non-compliance is more appropriate to the shareholders’ and other stakeholders’ long term interests. Full details are available in the company reports section.