The Chief Executive and the Finance Director have meetings with representatives of institutional shareholders and analysts at least twice annually, primarily following the announcement of the interim and full year results, but also at other times during the year as necessary. These meetings seek to build a mutual understanding of objectives by discussing long-term strategy and obtaining feedback. The Board also receives formal feedback from analysts and institutional shareholders through the Company’s public relations adviser and financial adviser.

The Chairman, senior independent and non-executive Directors are available for dialogue with shareholders at any time, but are not routinely involved in investor relations or shareholder communications. During the year the Chairman did meet with institutional shareholders to discuss the long-term strategy and performance of the business.