Corporate governance
As a Guernsey registered company, the Company is not required to comply with the Combined Code. However, the Directors recognise the value of high standards of Corporate governance and will take appropriate measures to ensure that the Company complies with those provisions of the Combined Code which the board believes are relevant to the Company. The "Guidance on Corporate governance in the Financial Sector in Guernsey" issued by the GFSC applies to the Company and the board will take appropriate measures to ensure that the Company complies with their guidance.
The board comprises of four directors, all of whom (including the Chairman) are independent and non-executive. The board has established an Audit Committee, Management Engagement Committee and Nomination Committee. The board will fulfill the function of the Remuneration Committee.
The Company will comply with all current and future provisions of the Laws to the extent that they are applicable and relevant to the Company's activities. In particular, each director will seek to act in accordance with the "Codes of Practice - Company Directors" issued by the GFSC, whether or not it is directly applicable to the director in question.
The shares of the company have been admitted by way of secondary listing to the Official List of the London Stock Exchange. Notwithstanding the secondary listings, the Directors nevertheless intend to comply with the Listing Rules applicable to a primary listing of shares in an investment company such as the Company to the extent practicable.