Governance
The Board of Directors supports high standards of Corporate Governance. As part of its preparation for Admission, the Board intends to develop the Group’s existing corporate governance policies and procedures further and is committed to achieving compliance with the principles of the Combined Code by 1 January 2008. The Combined Code recommends that at least half of the board of directors of a listed company, excluding the chairman, should comprise non-executive directors determined by the board to be independent in character and judgement and free from relationships or circumstances which may affect, or could appear to affect, the director's judgement. It is considered that, on appointment, the chairman will meet the criteria for independence set out in the Combined Code.