The Audit Committee’s primary objective is to assist the Board in fulfilling its oversight responsibilities over the financial reporting processes, financial policies and internal control structure. The Audit Committee oversees the conduct of the internal and external audit and acts to facilitate communication between the Board, management and the internal and external auditors.

The Audit Committee reports directly to the Board. The Audit Committee is composed of Richard Abdilla Castillo (independent non-executive Chair), Alfred Attard (independent non-executive Director) and Josef Wallace Galea (independent non-executive Director).

The Chairman of the Audit Committee, appointed by the Board, is entrusted with reporting to the Board on the workings and findings of the Audit Committee. Richard Abdilla Castillo is considered by the Board to be competent in accounting and, or auditing in terms of the Capital Markets Rules.