I M POWER PLC 107 Cheapside, London, EC2V 6DN Tel: 020 7397 2811 Fax: 020 7834 7661 Email: info@impowerplc.com

Governance

The Directors recognise the importance of sound corporate governance commensurate with the size of the Company and interests of the Shareholders. So far as is practicable, taking into account the size and nature of the Company, the Directors will take steps to comply with the principles of Good Governance and Code of Best Practice published in July 2003 by the Financial Reporting Council ("Combined Code").

Responsibilities of the Board of Directors

The Board of Directors is comprised of a Chief Executive Officer, a Finance Director, a Director of Business Development and two Non-Executive directors.

The Board meets regularly throughout the year and the Board is responsible for:

  • Formulating, reviewing and approving the Company's strategy;
  • Budgeting and reviewing financial performance;
  • Ensuring adequate capital resources;
  • Reporting to shareholders;
  • Compliance

The Executive Directors are responsible for the running of the Board and are responsible for the operations, performance and strategic development of the Company. The Non-Executive Directors are focussed on the strategy direction and performance of the business. The Board requires all non-executive directors to be independent in their judgement.

Biographies for the board directors can be found on the "Board of Directors" page of our website.

Committees of the Board of Directors

The Company currently has in place an audit committee and a remuneration committee with formally delegated duties and responsibilities.

The audit committee, is responsible for ensuring the financial performance, position and prospects of the Company are properly monitored and reported on and for meeting the auditors and reviewing their reports relating to accounts and internal controls.

The remuneration committee, reviews the performance of executive Directors and sets their remuneration, determines the payment of bonuses to executive Directors and considers the future allocation of share options to directors and employees.

Share Dealing Code

The Company has adopted an updated share dealing code for directors' dealings in securities of the Company which is appropriate for a Company admitted to AIM. The Directors will comply with Rule 21 of the AIM Rules for Companies relating to directors' dealings and will take all reasonable steps to ensure compliance by the Company's “applicable employees” (as defined in the AIM Rules).