S172 (1) Statement - 30 April 2020

Engaging with Stakeholders

The Company recognises that it has a number of stakeholders and that it needs to seek and understand their views in order for the Company to enjoy sustainable growth.

This section of the Strategic Report describes how the Directors act in line with Section 172 of the Companies Act 2006, and continue to have regard for:

  • the likely consequences of any decision in the long-term;

  • the interests of the Company’s employees;

  • the need to foster the Company’s business relationships with suppliers, customers and others;

  • the impact of the Company’s operations on the community and the environment;

  • the desirability of the Company maintaining a reputation for high standards of business conduct; and

  • the need to act fairly between members of the Company.

The Board identifies the Group’s key stakeholders as shareholders, employees, clients, regulators, suppliers and community participants, and it is committed to effective engagement with these stakeholders ensuring the interests of all stakeholders are given equal importance when making key decisions.

Set out below is a summary of how the Board fulfils these duties in respect of each of their key stakeholders.

Decision making