Responsibilities Of The Members Of The Board

The Board of Directors of Edenville Energy PLC monitors the business affairs of the company on behalf of shareholders. The Board is responsible for overseeing the strategic direction of the Company, monitoring the performance of the Company's assets and assessing opportunities for and risks affecting the Company's business and assessing means to effectively deal with the same.

In addition to those matters that must be approved by the Board of Directors by law, significant business activities and actions proposed by the Company are subject to Board approval. In particular the Board will approve Annual capital and operating budgets, strategic aims, major changes in the organizational structure of the Company, annual and interim financial statements, major acquisition and disposal transactions, major financing transactions involving the issuance of shares, debt securities and the like, major banking transactions, long term contracts with significant cumulative financial commitments, appointment of senior executive officers, benefit plans, stock option plans, issuance of stock options and succession plans.

The Board is also responsible for monitoring the activities of the executive management.

The Board currently consists of three Executive and one Non Executive Directors. The Directors recognise the need for implementing good corporate governance with the highest standards of behaviour and accountability. All Directors are expected to bring an independent judgement to bear, and to take decisions objectively in the interests of the Company. If directors have concerns about the way the Company is being run or about any course of action that is proposed, they must ensure that such concerns are recorded.

The Audit Committee

Sally Schofield will sit as the sole member of the Audit Committee until she is joined by a new non executive director whom the board intends to appoint during the year. The committee reviews the Company's annual and interim financial statements before submission to the Board for approval. The committee also reviews regular reports from executive management and the external auditors on accounting and internal control matters.

The Remuneration Committee

Sally Schofield will sit as the sole member of the Remuneration Committee until she is joined by a new non executive director whom the board intends to appoint during the year. It is responsible for reviewing the performance of the Executive Directors and for setting the scale and structure of their remuneration, paying due regard to the interests of shareholders as a whole and the performance of the Company.