person discharging managerial responsibilities

26(in accordance with section 96B(1) of the Act):

1. (a) a director of an issuer:
   1. (i) registered in the United Kingdom that has requested or approved admission of its shares to trading on a regulated market; or
   2. (ii) not registered in the United Kingdom or any other EEA State but has requested or approved admission of its shares to trading on a regulated market and who is required to file annual information in relation to shares in the United Kingdom in accordance with Article 10 of the Prospectus Directive; or
2. (b) a senior executive of such an issuer who:
   1. (i) has regular access to inside information relating, directly or indirectly, to the issuer; and
   2. (ii) has power to make managerial decisions affecting the future development and business prospects of the issuer.