The Company is not required to comply with the UK Corporate Governance Code or the Corporate Governance Code for Small and Mid-Size Quoted Companies 2013, as published by the Quoted Companies Alliance. However, the Directors recognise the importance of sound corporate governance and the Board intends, so far as is practicable for a company of its size, to implement certain corporate governance recommendations. As a consequence of the scale of activities and the fact that the Company is no longer investing, the Board has assumed the normal roles delegated to the Audit Committee. As the Company is no longer investing it is not anticipated that any additional directors will be appointed nor will there be any changes in director remuneration. As a consequence there is no need for a Remuneration or Nominations Committee. The Company has adopted a code for Directors' Dealings appropriate for a company whose shares are admitted to trading on AIM. The form of this code is substantially similar to the Model Code.