Responsibilities

The Board
The Board currently comprises an independent non-executive Chairman, the Chief Executive Officer, two other executive Directors and two other non-executive Directors. Their biographies demonstrate a range of experience and sufficient calibre to bring independent judgement on issues of strategy, performance, resources and standards of conduct that are vital to the success of the Group.

The Board is responsible to shareholders for the proper management of the Group. A statement of the Directors' responsibilities in respect of the accounts is available from the current Report and Accounts.

The Directors are responsible for keeping proper accounting records which disclose with reasonable
accuracy, at any time, the financial position of the Group and enable them to ensure that the financial statements
comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities as well as maintaining the integrity of the corporate and financial information on the Group's website.

The Board has overall responsibility for the Group and there is a formal schedule of matters specifically reserved for decision by the Board. Each executive Director has been given responsibility for specific aspects of the Group's affairs and independent advice is available to all Directors. Appropriate training is given when Directors are appointed to the Board.

The following represents a summary of matters reserved for decision by the Board:

· The approval of financial statements and significant accounting policies.

· The approval of interim and the recommendation of final dividends.

· The appointment, removal and remuneration of auditors, based on recommendations from the Audit Committee.

· Approval of circulars, listing particulars and other Stock Exchange documentation.

· Approval of the Group's strategy and annual operating budgets.

· Changes relating to the Group's capital structure and financing arrangements.

· Board appointments and removals, including the Company Secretary.

· Remuneration of Directors and other senior executives.

· Terms of reference and membership of board committees.

· Major investments and divestments.

· All other matters that have a material impact on the Group in accordance with the Group's approval process.