Corporate Governance

FuturaGene Plc is not formally required to issue a statement of compliance with the Combined Code revised in July 2003 by the Financial Reporting Council. Nevertheless, as the Board wishes to enhance the transparency of the Company’s activities, we provide below, details of the governance arrangements that the Company has in place. The information is not audited.

– The Company is headed by an effective Board, which leads and controls the Group.

– There is a clear division of responsibilities in running the Board and running the Group’s business.

– The Board includes both executive and nonexecutive directors. Due to the size of the Company
there is no formal procedure for the appointment of new directors.

– The Board receives and reviews, financial and operating information sufficient and appropriate to being able to discharge its duties.

– Directors submit themselves for re-election every three years by rotation in accordance with the
Articles of Association.

– The Board is available to discuss current events with its institutional and private shareholders and positively encourages attendance at the Annual General Meeting.

– The Board, through the Chairman’s statement and the directors’ report, present a clear and detailed account of the Company’s position and prospects.

– The Board regularly reviews the systems of internal financial controls and considers their effectiveness at safeguarding shareholders’ investments and the Company’s assets.

– Due to the size of the company there is no audit committee or remuneration committee.