Audit Committee

Since the 14 July 2004 float the Group has operated with an Audit Committee, whose terms of reference cover the points recommended by the Code. The Committee comprises Lloyd Dorfman and Adrian Martin (committee chairman), and is attended by Jerry Wales, the Finance Director, and the auditors as appropriate.

Remuneration Committee

The Group has a Remuneration Committee, composed of the two Non-Executive Directors Lloyd Dorfman (committee chairman) and Adrian Martin. Its report can be found in the latest Annual Report.

In view of the size of the Group there is no Nominations Committee.