The Directors recognise the importance of sound corporate governance commensurate with the size of the Company and the interests of the shareholders. As the Company grows, the Directors intend that it should develop policies and procedures which reflect the Principles of Good Governance and Code of Best Practice as published by the Committee on Corporate Governance (commonly known as the 'Combined Code'). So far as is practicable, taking into account the size and nature of the Company, the Directors will take steps to comply with the Combined Code.

Details of Audit Committees and Remuneration Committees

Audit Committee

The directors have established an audit committee. The audit committee will receive and review reports from management and from the auditors relating to the interim and annual accounts and to the system of internal financial control.

The audit committee is made up of the non-executive director, Brian Moritz and CEO Russell Lamming.

Remuneration Committee

The directors have established a remuneration committee. The remuneration committee will determine the terms and conditions of service of executive directors.

The remuneration committee is made up of the non-executive director, Brian Moritz and finance director Ian Visagie.