#City Code, corporate governance and directors' responsibilities
The directors are responsible for the proper management of the Company including maintaining an accurate record of the Company’s financial position, systems of internal control, safeguarding assets, and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Although the Company’s shares have been admitted to trading on the AIM market of the London Stock Exchange and the Company is not required to comply with the UK Corporate Governance Code, the directors are committed to upholding good standards of corporate governance and have extensive experience in audit, risk and controls, corporate governance and financial reporting. At this stage of the Company’s development, the Board is collectively responsible for all matters of corporate governance and will consider establishing separate audit and remuneration committees as the Company’s activities expand and when its Board expands as considered appropriate. Each of the directors takes responsibility for compliance with the AIM Rules for companies.
As the Company is registered in the Isle of Man and traded on the AIM Market of the London Stock Exchange, it is subject to the UK City Code on Takeovers and Mergers.