Membership and responsibilities of Board Committees

Audit Committee

Chairman: Bryan Smart FCA
Other members: Dr Ernst Wustinger
Responsibilities: The committee meets annually with a representative of the Company's auditors and is responsible for ensuring that the arrangements for the independent review of the annual report and financial statements are appropriate and effective. The committee also monitors the controls that are in force to ensure the integrity of information reported to the shareholders.

Remuneration Committee

Chairman: Dr Ernst Wustinger
Other members: Bryan Smart FCA
Responsibilities: The committee decides within agreed terms of reference, on remuneration packages for executive directors and senior managers in order to retain and motivate high quality individuals capable of achieving the group's objectives.

Nomination Committee

Chairman: Dr Ernst Wustinger
Other members: Bryan Smart FCA, Kurt Kerschat
Responsibilities: The committee is responsible for proposing candidates for appointment to the Board, having regard to the balance of the Board. All directors are subject to re-election at least every three years, or more often if required by the Companies Act 2006.