Policy on Employement of Former Employees of the External Audit

1. Objective

The policy statement contains the basic guidelines to be followed by company personnel in hiring employees or former employees of the Company’s external auditing firm. The external auditor’s independence could be compromised if the Company were to hire external auditor’s former employees, who could, by reason of their knowledge of and relationships with the external auditor, negatively impact the effectiveness and quality of an audit. A loss of independence could also occur if an employee were to be perceived as being influenced by the prospect of potential employment with the Company of its subsidiaries.

2. General Principle

The Audit Committee establishes the following guidelines for hiring employees or former employees of independent auditors:

i) Key audit partners will not be offered employment by the company or any of its subsidiary undertakings within two years of undertaking any role on the audit;

ii) Other key team members will not be offered employment by any group company within six months of undertaking any role on the audit;

iii) Other audit team members who accept employment by any group company must cease activity on the audit immediately they tender their resignation to the audit firm;

iv) Any offer of employment to a former employee of audit firm, within two years of the employee leaving the audit firm, must be pre-approved by the audit committee where the offer is made in respect of a senior executive position.

3. Policy Implementation

The Finance Manager shall coordinate the implementation of this Policy.

4. Policy Review

This Policy shall be reviewed periodically to ensure that it continues to remain relevant and appropriate.