Corporate Governance
Role
The Directors have overall responsibility for the Company's activities including the review of its investment activities and performance. The Directors have primary responsibility for determining the Company's overall investment objective and strategy and for implementing the Company's investment policies. The Board is also responsible for supervising and reviewing the activities of the Investment Manager.
Governance
There is no applicable regime of corporate governance to which directors of a Cayman Islands company must adhere over and above the general fiduciary duties and duties of care, diligence and skill imposed on such directors under Cayman Islands law. The Directors, however, recognise the importance of good corporate governance and will comply with the Combined Code to the extent practicable and commensurate with the size and operations of the Company. A majority of the
Board of Directors of the Company is independent. The
Audit Committee of the Company comprises solely of independent directors. If a revaluation of an unlisted security of the Company is proposed by the Investment Manager, it shall be accepted by the Company at its revised value only upon unanimous approval of the Audit Committee. The Company has also adopted a share dealing code for directors' dealings in securities of the Company.
