Board Structure

As described in the Company's Articles of Association, each Member Guarantor is entitled to appoint a Director to the Board. The Member Guarantors may also appoint two Independent Directors. Further, subject to approval by the Member Guarantors, the Board may appoint a Director having special scientific and/or technological qualifications. The Chief Executive Officer is also a Director (the Managing Director).

Consequently, the Board will comprise not more than eleven Directors (including the Chairman) with two of these Directors being independent. An independent Director is one who is not a nominee of a Member Guarantor nor an adviser to AWTA Ltd for fees or some other Benefit.

The Board elects the Chairman from one of the two Independent Directors.

The normal term of a Director is for a period of three years on terms and conditions as contained in their letter of appointment, and a Director may be re-appointed.