Corporate Governance

The Company’s shares are listed on the Alternative Investment Market (AIM). As an AIM listed company, Solid State plc is not required to comply with the provisions of Section 1 of the Combined Code as set out in the Financial Conduct Authority Listing Rules. Whilst not required to do so, as a matter of best practice, the Directors intend to comply with the Corporate Governance Code so far as is appropriate having regard to the size and nature of the Company’s operations. The Board will take such measures so far as practicable to comply with the Corporate Governance Code and in addition, the Quoted Companies Alliance (“QCA”) Guidelines for AIM companies.

Takeovers and Mergers

The Company is subject to the City Code on Takeovers and Mergers.

Board of Directors

The Board consists of four executive Directors and three non-executive Directors and holds ten Board meetings during the year at which reports on the Group’s operations, together with the Group’s finance reports are considered. The Board is responsible for formulating, reviewing and approving the Group’s strategy, budgets, major items of capital expenditure and acquisitions. All directors are subject to retirement and re-appointment by rotation.

The Board comprises the executive management of the Group and thus maintains full control over its activities. Decisions are accordingly taken quickly and effectively following consultation among the Directors concerned if any matters arise. The Board takes the view that this direct but flexible approach enables the Company to deal effectively with all matters.