Compliance with Model Code

Compliance with Model Code

In accordance with the provision of Listing Rule 15.5.1 the Company is satisfied that all inside information which the Directors and the Company may have to 8 December 2015 has previously been notified to a Regulated Information Service. Accordingly the Company will continue to adopt the Model Code during the close period with the exception of the following activities, which may be undertaken:

(a) dealings by persons discharging managerial responsibilities in the Company;

(b) purchases by the Company of its own securities;

(c) issues by the Company of securities;

(d) sales of treasury shares for cash or transfers (except for sales and transfers by the Company of treasury shares in the circumstances set out in LR 12.6.2).