Litigation Committee

Litigation Committee
BD Buckham (Chairman)*
HR Levin
JC Livingstone

Resigned as Chairman of the Committee on 1 September 2010, but continues to attend committee meetings by invitation.
Legal proceedings in respect of substantial claims against Andry Welihockyj, Marina Welihockyj and a company controlled by them are still in process. Every effort is being made to bring these matters to a satisfactory conclusion in the interest of shareholders.

The Litigation Committee, which consists of non-executive directors, has advised the Board that legal counsel remains satisfied with the merits of the Group’s claims and that the Group has no additional exposure other than for legal costs in these matters.

The Litigation Committee meets on an ad hoc basis and met on numerous occasions during the 2010 financial year.