Section 172

“A Director of a company must act in a way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its shareholders as a whole and, in doing so have regard (amongst other matters) to:

• The likely consequences of any decisions 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 environment
• The desirability of the company maintaining a reputation for the high standards of business conduct, and
• The need to act fairly between shareholders of the company"

This section serves as our Section 172 statement

The Board considers, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareowners as a whole (having regard to the stakeholders and matters set out in Section 172(2)(a-f) of the Act in the decisions taken during the year ending 31 March 2024).

The Board recognises that engaging with the Company’s stakeholders is paramount to achieving our vision and business success. When making decisions, the Directors prioritise the interests of our people and other stakeholders, considering the community, environment, and the Company’s reputation. We understand that sustaining the Company’s long-term success is closely tied to stakeholder value and engagement, making it a fundamental aspect of our business.

Stakeholder engagement has been integral to our business since its inception. Within our Section 172 statement, we take this opportunity to showcase how the Board engages with stakeholders and its impact on decision-making and strategies.

The Directors are fully committed to fulfilling their responsibilities under Section 172 of the Act. Our aim is to act responsibly, ensuring that the business operates in alignment with high standards of conduct and good governance. Management is also dedicated to upholding these principles throughout the organisation.

Engagement with Stakeholders

We recognise that our business’s success is inherently tied to its impact on our people, places and the planet. Building strong, meaningful relationships and maintaining ongoing engagement with our clients, suppliers, employees, shareholders, and the environment are essential for achieving long-term prosperity and positive outcomes. By effectively engaging stakeholders, we cultivate trust, enhance our reputation as a socially responsible enterprise, and develop sustainable solutions for the benefit of our people, places and the planet.