Conflicts of interest procedure

The Company has procedures in place to deal with the situation where a director has a conflict of interest. As part of this process, the board:

• considers each conflict situation separately on its particular facts;

• considers the conflict situation in conjunction with the rest of the conflicted director’s duties under the Companies Act 2006;

• keeps records and board minutes as to authorisations granted by the board and the scope of any approvals given; and

• regularly reviews conflict authorisation.

The board has complied with these procedures during the year.