The Company's shares were admitted to trading on the Alternative Investment Market (AIM) of the London Stock Exchange on 17 March 2004. AIM listed companies are not required to comply with the disclosures of the Combined Code of Corporate Governance. However, the Board supports the principles contained in the Combined Code and is committed to maintaining high standards of Corporate Governance. The Board has taken note of the Combined Code provisions and sought to comply in so far as it considers them to be appropriate to a company of this size, nature and structure, and has explained any areas of non-compliance with those provisions.