Investors

Corporate Governance

As a company with a Standard Listing, the Company is not required to comply with the provisions of the UK  Corporate Governance Code. The Directors have decided, so far as is practicable given the Company’s size and  nature, to voluntarily adopt and comply with the Quoted Companies Alliance’s Corporate Governance Code (the  “QCA Code”). However, at present, due to the size and nature of the Company, the Directors acknowledge that  adherence to certain provisions of the QCA Code may be delayed until such time as the Directors are able to  fully adopt them. 

Specifically, 

1. The QCA Code recommends that companies publish key performance indicators which align with  strategy and feedback through regular meetings with shareholders and directors. The Company will not  comply with this provision until after such time as it has made an Acquisition. 
2. The QCA Code also recommends that the board has embedded an effective risk management practice  which should include a description of what the board does to identify, assess and manage risk and how it gets assurance that the risk management and related control systems in place are effective. At  present, due to the nature of the Company, a formal risk management policy would not be in place  until after such time as it has made an Acquisition. A risk management approach would be taken  however when determining an Acquisition target, considering costs and expenses, planning the  Acquisition structure and appointment of senior management (if any).  
3. At present, due to the size and nature of the Company, the Directors would not evaluate board  performance on a regular basis or make plans for succession planning. Once an Acquisition has been  made, if appropriate, the Company will put in place the appropriate practices.  
4. Further, until the Acquisition is made, the Company will not have nomination, remuneration, audit or  risk committees. The Board as a whole will instead review its size, structure and composition and the  scale and structure of the Directors’ fees (taking into account the interests of the Shareholders and the  performance of the Company), take responsibility for the appointment of auditors and payment of their  audit fee, monitor and review the integrity of the company’s financial statements and take  responsibility for any formal announcements of the Company’s financial performance. Following the  Acquisition, the Board intends to put in place nomination, remuneration and audit and risk committees. 
5. Given the Company’s size, it has not yet developed a corporate and social responsibility policy. One will  be put in place at the appropriate time. 
6. While the CEO will also fulfil the role of Chairman, two diverse and multi-disciplinary Non-Executive  Directors have also been appointed to the board who would be able to provide a range of reviews and  balance when making decisions. When an Acquisition is made, the Company will consider whether or  not additional Directors, including a separate Chairman of the Board should be appointed.  

The Company will be led by an effective and entrepreneurial Board, whose role is to promote the long term  sustainable success of the Company, generating value for shareholders and contributing to wider society. 

The Board will ensure that it has the policies, processes, information, time and resources it needs in order to  function effectively and efficiently. 

The Board will ensure that the necessary resources are in place for the company to meet its objectives and  measure performance against them.

Share Capital Information

Notes:

*Tanglin Capital Limited is a company controlled by Andrew Roberto Mankiewicz OBE, a Controlling Shareholder of the Company.
**Xangbo Global Markets Pte. Ltd. is managed by Yarlun Capital (Pte.) Limited, a Singapore based fund manager, holding a Capital Markets Services License and regulated by the Monetary Authority of Singapore.