text: **Composition of the Board**
  
  No formal nomination committee or procedures have been adopted for the identification, 
  
  appointment and review of Board membership, but an informal assessment process facilitated by 
  
  the Chairman operates in consultation with Mermaid’s professional advisors. 
  
  In relation to Board membership, Mermaid is committed to: - 
  
  **•**
  It’s Board comprising directors with a blend of skills, experience and attributes 
  
  appropriate to its business and stage of development; and 
  
  **•**
  The principle criterion for the appointment of new directors being their ability to add 
  
  value to Mermaid’s business through their professionalism, integrity and experience. 