Corporate Governance

Section 9 Having balance on the Board

Principle

The Board should not be dominated by one person or a group of people.

The Board must not be so large as to prevent efficient operation but must not be too small to be ineffective.

The Board should be balanced between Executive and Non-executive Directors and should have at least two independent Non-executive Directors.

Compliance

The Board consists of 3 non-executive Directors.

The Chairman has been involved with the company since its predecessor company China Private Equity was admitted to AIM in 2009 and has extensive experience of the regulatory requirements of the exchange.

Each Director is engaged on a 12 month contract with 3 months notice on either side.