The Financial Reporting Council ("FRC") issued a new edition of the Combined Code in June 2008, which applies to accounting periods beginning on or after 29 June 2008 and is available on the FRC’s website at http://www.frc.org.uk/corporate/combinedcode.cfm. The new edition of the Code will therefore apply to the Group’s financial year ending 30 April 2010. The Directors, however, believe that throughout the year ended 30 April 2009 and up until the date of this report, the Group has complied with all of the recommendations contained in both the new edition and the previous edition of the Combined Code. The Group also complies with the corporate governance requirements of the Financial Services Authority’s Listing Rules, and Disclosure and Transparency Rules.