Corporate Governance

Radicle complies with the provisions of the Combined Code in so far as it is practicable for a company of its size. The Company, however, does not currently comply fully with the principles of good governance and the recommendations of best practice as set out in the Combined Code. Radicle is a relatively small company at a relatively early stage of development and the costs of fully complying with such principles and recommendations would be disproportionately high for the Company. In addition to a Finance Director, Radicle has appointed two non-executive Directors with relevant experience to complement the executive Directors and to provide an independent view.

Radicle will operate a share dealing code for Directors on the basis set out in the Listing Rules.

The Board has also considered the guidance issued by the Institute of Chartered Accountants in England and Wales (commonly known as the Turnbull Report) concerning the internal requirements of the Combined Code. The Board intends regularly to review key business as well as financial risks facing Radicle in the operation of its business.