Governance

The Company has recruited a highly experienced Board of Directors.

The Company has established an Audit and Valuation Committee, which will be comprised of the entire Board and will meet at least twice a year. The Audit and Valuation Committee will examine the effectiveness of the Company’s control systems. It will review the half-yearly and annual reports and also receive information from the Investment Manager. It will also review the scope, results, cost effectiveness, independence and objectivity of the external auditor and be responsible for monitoring the Company’s valuation policies and methods.

The Company also has established a Management Engagement Committee, which will be comprised of the entire Board. The Management Engagement Committee will meet at least once a year or more often if required. Its principal duties will be to consider the terms of appointment of the investment manager and it will annually review that appointment and the terms of the Management Agreement.

The Company has also established a Nominations Committee, which will be comprised of the entire Board. The Nominations Committee will meet at least once a year or more often if required. Its principal duties will be to consider the framework and policy for the remuneration of the Directors and to review the structure, size and composition of the Board on an annual basis.