Code of Conduct

Directors and associates are required to maintain the highest ethical standards.

A code of conduct has been issued to every associate of the company and its subsidiaries and its provisions are annually reinforced under the guidance of a senior officer.

During the year all senior associates of the group were required to submit a declaration testifying to their compliance with various aspects of the code. The board believes that ethical standards embodied in the code are effectively observed within the business. A further code, setting standards and practices to which the group expects its suppliers to adhere to, is distributed to new suppliers.