Corporate Responsibility.

The Group has the responsibility for managing the challenges that affect the business on a daily basis; this also includes our impact on the environment, our workforce, and the community.

Corporate Governance.

reviewed October 2024

The Company’s shares are traded on the Alternative Investment Market (AIM) of the London Stock Exchange Plc.

Following a change to the AIM rules in 2018, from 28 September 2018, the Company has adopted the Quoted Companies Alliance’s “Corporate Governance Guidelines for Smaller Quoted Companies” (the QCA Code) which the Board believes is appropriate due to the size and complexity of the Company. In November 2023 the QCA published an updated version of the QCA Code.

The 2023 QCA Code retains the ten principles from the 2018 version, however, it also includes updates to reflect certain areas of growing importance for shareholders, such as climate change, remuneration of directors and employees as well as the need for diversity and independence at Board level.

Whilst the 2023 QCA Code will apply to financial years starting after 1 April 2024, the Company has decided to adopt these principles where practical now, which includes the formation of an audit and risk committee.

There are ten principles of the QCA Code and the following table sets out in broad terms how we comply at this point in time.

Principle	Extent of current compliance	Commentary	Further Disclosure
1. Establish a purpose, strategy and business model which promote long-term value for shareholders	Compliant	The Group’s purpose and business strategy is detailed in our Annual Report & Accounts. Our purpose is to provide technically advanced lighting solutions that deliver long-term lowest cost of ownership Our focus is on delivering long-term growth and stability, achieved through four key strategic priorities: Focus on high quality products and good leadership in technology Continue to grow the customer base for Group companies Focus on manufacturing excellence Continue to develop high quality people	Annual Report & Accounts – Strategic Report Strategy Business Model
2. Promote a corporate culture that is based on ethical values and behaviours	Compliant	Our core aim is for long-term growth and stability. The Group management team is passionate about developing the business for the benefit of the shareholders, employees and customers With our focus on excellence, we ensure our Group’s culture is consistent with the aim of long term growth and stability. In order to achieve and maintain such a culture, we invest in the training and education of our employees, as mentioned in the Annual Report and Accounts	Annual Report & Accounts – Strategic Report Strategy
3. Seek to understand and meet shareholders’ needs and expectations	Compliant	Meetings are held with shareholders as required; this includes visits to our various company locations being organised and encouraged where possible. In addition, all announcements include contact details for shareholders to contact the Company if they so choose. The AGM is another forum for dialogue with our shareholders. The Notice of Meeting is sent to shareholders at least 21 days before the meeting. Any feedback during these meetings is encouraged and acted upon where appropriate.	Directors Report
4. Take into account wider stakeholder interests, including social and environmental responsibilities, and their implications for long-term success	Compliant	Feedback from employees, customers, suppliers and other stakeholders is actively encouraged. Our employees are an important stakeholder group and we actively encourage dialogue with the Company via various employee committees within our companies. Reports from these meetings are distributed to the Board.	Annual Report & Accounts – Strategic Report Sustainability
5. Embed effective risk management, internal controls and assurance activities, considering both opportunities and threats, throughout the organisation	Compliant	The Board operates a continuous risk identification and evaluation process. The results are utilised by the Board to manage any significant risks. In addition, the executive directors regularly visit all operating sites and review financial, commercial and operational issues with an executive director responsible for each individual company. The Board has overall responsibility for the system of internal control and for reviewing its effectiveness throughout the Group. Internal financial control is driven by the Group finance team who visits each company to assess compliance against key controls. This includes regular financial reporting that is compared against targets and previous year’s performance.	Principal risk & uncertainties Directors' report
6. Establish and maintain the Board as a well-functioning, balanced team led by the Chair	Partially compliant	Total of six directors, two executive directors and four non-executive directors. Three non-executives are not considered fully independent, one is independent. The Board considers that the non-executive directors are appropriate as they bring significant experience and expertise in the sector. In addition, as the directors retire on a three-year rotation, shareholders have a regular opportunity to ensure that the composition of the Board is in line with their interests. There is a Remuneration Committee and the Audit & Risk Committee has been established, with matters that would normally be tabled at an Audit & Risk Committee put to the full Board. Partial compliance is due to level of independent directors and diversity on the board.	Our governance Board of Directors Directors' Report
7. Maintain appropriate governance structures and ensure that, individually and collectively, directors have the necessary up-to-date experience, skills and capabilities	Compliant	The current composition of the Board provides the necessary skills, experience and capabilities for the size and context of the Group. The composition and succession of the Board are subject to review, considering the future needs of the Group. The Board as a whole is responsible for robust governance practices. The roles and responsibilities of each director are clear and responsibilities understood. The Board meets at least five times each year, with additional meetings as required.	Our governance Board of Directors Directors' Report
8. Evaluate Board performance based on clear and relevant objectives, seeking continuous improvement	Partially compliant	There is no formal evaluation process; however, the Chairman is responsible for Board performance and accordingly actively encourages feedback on the content and function of board meetings. The composition and succession of the Board are subject to constant review, considering the ever-changing needs of the Group. In addition, the directors retire by rotation every two years giving shareholders the opportunity to ensure that the Board is aligned with their interests. Partial compliance is due to no formal evaluation process and that directors are not re-elected every year.