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Corporate Governance is the system by which companies are managed and controlled.

The Board of directors is responsible for the governance of the company and for compliance with the appropriate standards of corporate governance. The shareholder's role in governance is to appoint directors and auditors and to satisfy themselves that an appropriate governance structure is in place. The responsibilities of the Board include maximizing shareholder value, ensuring there is a robust process in place to determine the main aims of the company and that an appropriate strategy is in place to achieve them, ensure that the company's resources are adequate to pursue its strategies and policies, ensure financial integrity is upheld and its reputation and brand are maintained at a high standard.

Further information on corporate governance can be found in the Annual Report 2007.