Corporate Governance
The Directors are committed to maintaining a high standard of corporate governance and intend to comply with the Quoted Companies Alliance Corporate Governance Guidelines for AIM Companies published on 13 July 2005 and with those aspects of the Combined Code as are appropriate for an investment company of its size and type.
The Company does not consider it necessary to establish an audit committee given the nature of its board structure and operations. The Board will undertake all functions that would normally be delegated to the audit committee including reviewing annual and interim results, receiving reports from its auditors, agreeing the auditors' remuneration and assessing the effectiveness of the audit and internal control environment. Where necessary the Board will obtain specialist external advice from either its auditors or other advisers.
The Company does not intend to establish remuneration and nomination committees as such committees would not be appropriate given the nature of the Company's board structure and operations. The Board will review annually the remuneration of the Directors and agree a reasonable and market standard level of non-executive fees, based upon market information sourced from appropriate external consultants. Consideration will be given by the Board to future succession plans for members of the Board, as well as consideration as to whether the Board has the skills required to manage the Company effectively, and particularly its relationship with the Property Adviser, the Administrator and the Custodian. The Company will take all reasonable steps to ensure compliance by the Directors with the provisions of the AIM Rules relating to dealings in securities of the Company and has adopted a share dealing code for this purpose, similar to the Model Code.
The Board intends to review regularly key business and financial risks facing the Group in the operation of its business.
Share Price
8.12p
0.00
10 March 2010
18:09
