Corporate Governance

The Directors of Caspian Sunrise support high standards of corporate governance and have adopted procedures which the Directors believe demonstrate good corporate governance for the size of the Company. In addition, the Company intends to comply with the principles of the Corporate Governance Guidelines for AIM Companies published by the Quoted Companies Alliance in 2007, so far as it is practical for a Company of its size.

The Board consists of three directors, one of whom is a non-executive Director. The Company intends to appoint further non-executive Directors in due course.

The Company holds Board meetings at least four times a year, at which time financial and other reports are considered and, where appropriate, voted on. Apart from regular meetings, additional meetings are arranged when necessary to review strategy, planning, operational, financial performance, risk and capital expenditure and human resource and environmental management. The Board is also responsible for monitoring the activities of the executive management team.