The Group’s practice on notice periods is that they should be for a period of 12 months notice.

It is the Company’s policy that any termination payment be mitigated and restricted to the actual loss incurred by the Director.

All Executive Directors who served during the year have service contracts on this basis. The Board considers that the notice periods are reasonable and in the interests of shareholders having due regard to prevailing market conditions and practice among companies of comparable size.

Non-Executive Directors

The Chairman and each of the Non-Executive Directors have letters of appointment. The letters of appointment do not contain any contractual entitlement to a termination payment and the Directors can be removed in accordance with the Company’s Articles of Association.

The Chairman and all Non-Executive Directors are subject to re-election by shareholders at least every three years, with the exception of any Director whose appointment exceeds nine years, in which case there is a requirement for annual re-election.