5. The directors shall include in the separate statement containing a discussion and
analysis of the Group’s performance in the annual report, an explanation of the basis on
which the Company generates or preserves value over the longer term (the business
model) and the strategy for delivering the Company’s objectives. The Company has a
corporate strategy and a long term business model. Long term financial performance as
opposed to short term rewards is a corporate governance objective. The Board would
not take undue risks to make short term gains at the expense of long term objectives