The Company believes in the principle of an effective Board, which is collectively responsible for the success of the Company. The Board currently comprises the Non-Executive Chairman Robert Owen, the Chief Executive Officer Simon Fry, Executive Director Johnny Chan, Non-Executive Director Ilyas Khan and two Independent Non-Executive Directors, Stuart Westwater and Peter Moss.

The principal role of the Board is to provide strategic leadership of the Company within a framework of prudent and effective controls, which enables risk to be assessed and managed. The Board sets the Company's strategic aims, ensures that the necessary resources are in place for the Company to meet its objectives and reviews management performance. The Board sets the Company's values and standards and ensures that its obligations to shareholders and others are met and understood. The Board meets at least quarterly to discuss performance, strategy and opportunities available to the Company and is supported by specialized committees including audit, remuneration and nomination committees.

The Board takes its corporate governance responsibilities very seriously and reviews the Company's practices against the Combined Code on Corporate Governance as though the Company were listed on the Official List of the UK Listing Authority and, where appropriate to the Company's size, business mix and shareholder base, modifies practices accordingly. Collectively, we seek to ensure that our shareholders and the market are kept well informed about the Company's operations and prospects, often providing information in excess of regulatory requirements.

Articles of Association of Crosby Asset Management Inc.