The Board may, in accordance with the Company’s constitution, be comprised of a minimum of three and a maximum of ten Directors.

The roles of the Non-Executive Chairman and the Managing Director/Chief Executive Officer are exercised by different individuals.

During the 2009 financial year, there were five Directors; currently there are four (John Falconer resigned on 26 August 2009). Details of the Directors who held office during the 2009 financial year, including their qualifications, experience and the period for which each Director has held office are set out on pages 32 to 34 of this Report.

At each Annual General Meeting of the Company, one third of the Directors (or the number nearest one-third) must retire from office. In addition, any other Director who has held office (without re-election) for three years or more must also retire from office. The Directors to retire at any Annual General Meeting must be those who have been in office the longest since their last election. The retirement of Directors who were elected on the same day, must be determined by lot (unless they agree otherwise between themselves). A retiring Director is eligible for re-election.

A Director appointed to fill a casual vacancy or as an addition to the existing Directors will hold office until the next Annual General Meeting at which he or she may be re-elected.

The Managing Director is not subject to retirement by rotation and along with any Director appointed as an additional or casual Director, is not to be taken into account in determining the number of Directors required to retire by rotation.

Details of the Company's Board Charter are contained in CG01_Board_Charter_090611web.pdf