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## 25. Financial risk management objects and policies continued 

Hedging instruments for Pound Sterling commitments: 

<img src='content_image/191307.jpg'>

<img src='content_image/191312.jpg'>

Subsequent to 31 December 2012, the Group entered into further forward currency contracts of nominal £25,800,000 at an average forward rate of 1.5807 US$/£. 

