The Directors believe that the maintenance of good relations with both institutional and retail Shareholders is important for the long term prospects of the Company. It therefore seeks active engagement with investors, bearing in mind the duties regarding equal treatment of Shareholders and the dissemination of inside information.

The Board receives feedback on Shareholder views from its Corporate Broker and Investment Adviser.

The Directors consider that the Annual General Meeting, a meeting for all shareholders, is the key point in the year when the Board of Directors accounts to all shareholders for the performance of the Company. It therefore encourages all shareholders to attend, and all Directors are present unless unusual circumstances prevail.

The Directors believe that the Company policy of reporting to shareholders as soon as possible after the Company’s year-end and the holding of the Annual General Meeting at the earliest opportunity is valuable.

The Company also provides Interim Reports and Accounts in accordance with IAS 34 interim management statements for the quarterly periods, in line with the requirements of the Transparency Directive.