Section 172 Statement

The directors of The Panoply and all those of all UK Companies must act in accordance with a set of general duties.  Section 172 of the Companies Act requires Directors to take into consideration the interests of stakeholders in their decision making and is summarised as followed:

“A Director of a company must act in a way they consider, in good faith, would 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 as 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(i)(a-f) of the Act in the decisions taken during the year ended 31 March 2020).

Our vision is to create a Panoply of experts, opinions, ideas and cultures that can deliver genuine change within our world to maximise the opportunities of the 21st century.

The Board recognises that engagement with the Company’s stakeholders is critical to the success of the business in realising this vision. The Directors continue to have regards to the interest of our people and the Company’s other stakeholders, including the impact of its activities on the community, the environment and the Company’s reputation when making decisions. We recognise that promoting the long-term sustainability and success of the Company is intertwined with creating value for, and engagement with, our stakeholders. It should therefore be at the core of our business.

Engagement with stakeholders is not new and has been a part of the business since its inception, but the obligation to include the Section 172 statement presents an opportunity to illustrate to you how your Board engages with stakeholders and how this has impacted on your Company’s decisions and strategies.

The Following sections summarise how the Directors’ fulfil their duties and responsibilities:

Risk Management:

The Group is affected by a number of risks and uncertainties, not all of which are wholly within its control as they relate to the wide macroeconomic and legislative environment within which the Group operates. Therefore it is vital that we effectively identify, evaluate, manage and mitigate the risks we face, and that we continue to evolve our approach to risk management.

For details of our principal risks and uncertainties, and how we manage our risk environment, please view our annual report: 

Our People: 

We understand how important it is to have a workforce with different skills, perspectives and experiences. Across the group, we are making sure that our workplaces are inclusive and supportive enough to attract the diversity of talent that will enable us to grow.

For further details on our people, please visit our People Page

Our Planet:

The environmental impact of the fourth industrial revolution has been vastly underestimated. With a carbon footprint today equal to the aviation industry, we want to raise awareness of this and work with our industry to minimise its impact. 

We believe that there is a better, more sustainable way to do business. We’re investing in training and research to build teams of technology experts within the group who deeply understand the environmental impact of digital products and are able to design and advocate for better alternatives. 

For further details on how we interact and protect our planet, please visit our Planet Page

Our Communities:

During periods of upheaval, communities face the threat of being left behind, we want to ensure those communities thrive and have a meaningful stake in the future. Our work is transforming the way that businesses operate. We want to make sure that we are equipping people with the skills they will need to thrive in the future workplace.

Our community investment work is focussed on empowering vulnerable communities through technology and providing access to employment for diverse talent.  

For further details on how we interact with our communities, please see our Community Page

Our Shareholders:  

The Board is actively committed to engaging with our shareholders, as we recognise the importance of continuing effective dialogue, whether with major institutional investors, private or employee shareholders. It is important to us that shareholders understand our strategy and objectives, so these must be explained clearly, feedback heard and any issues or questions raised properly considered. 

For further details on how we engage with our shareholders, please see our Annual Report