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CA 2006 Section 172 Statement

Section 172 Statement

From the perspective of the Directors, the matters for consideration under section 172 of the Companies Act 2006 (“s172”) have been considered to an appropriate extent by the Group. Such consideration is included in the statements set out below, noting the Directors’ duty under s172 is to act in good faith to promote the success of the Group and Company for the benefit of its shareholders but having regard amongst other matters to the following:

·      the likely consequences of any decision in the long term

·      the interests of the Group’s and Company’s employees

·      the need to foster the Group’s and Company’s business relationships with customers and others

·      the impact of the Group’s and Company’s operations on the community and the environment

·      the desirability of the Group and Company maintaining a reputation for high standards of business conduct

·      and the need to act fairly as between members of the Group and Company.

For the Group, compliance is one of cornerstone values and forms the basis for all decisions and activities. It is the key to integrity in conducting business and as a global company. The Directors are committed to ensuring that all business is carried out in full accordance with the law as well as internal rules and principles.


The Board of Directors of the Group, both individually and together, confirmed that they have acted in the way they consider, in good faith, would be most likely to promote success of the Group for the benefit of its members as a whole (having regard to the stakeholders and matters ser out in Section 172(1) (a-f) of the Act) in all decisions taken. The following paragraphs summarize how the Directors fulfill their duties:

·      As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner.

·      As the Board of Directors, we are committed to openly engage with our shareholders. It is important to us that shareholders understand our strategy and objectives, so these must be clearly communicated, feedback heard and issues or questions raised properly considered.
As our operations grow, our risk environment also becomes more complex. It is therefore important that we effectively identify, evaluate, manage and mitigate the risks the Group faces. For details of our principal risks and uncertainties, please refer to the paragraphs of our Group strategic report.

·      Our employees are vital to the services provided by the Group. We aim to be a responsible employer in our approach to the pay and benefits for our employees. For our business to succeed, we need to manage our employees’ performance and develop talent while ensuring the Group operates as efficiently as possible. The health and safety of our employees is very important to us.

·      In order to grow our business, we need to develop and maintain strong business relationships. We value all of our suppliers and customers.