Statutory Duties Statement
The directors of the Group consider, 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 Group for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Act) in respect of the decisions taken during the year ended 31 December 2024, and in doing so have regard(among other matters) to the following:
Our purpose is to generate profits by providing high quality IT infrastructure management services to our customers. The strategy of the Group is set by the directors of the Group in order to reflect our global endeavours to maximise value in our existing businesses, expand into new service offerings and capabilities, align ourselves with the right customers and markets, broaden our geographic reach and leverage our technological and IT industry expertise to provide competitive advantage with our ultimate goal of maximising value to all our stakeholders.
Our action plan is designed to support our strategy and have long term beneficial impact on the Group whilst contributing to its success in maintaining the value of its assets and investments.
The directors recognise that employees in our Group are fundamental and core to our business and the delivery of our strategic ambitions. The success of our business depends on attracting, retaining, and motivating employees. We aim to be a responsible employer in our approach to the pay and benefits our employees receive.
Park Place Technologies UK Holdings Limited adopted the 24/7 follow the sun model for support tickets and also service team moving to remote first working in response to customer feedback to improve our service offering.
The directors factor the implications of decisions on employees and the wider workforce, where relevant and feasible.
The health, safety and wellbeing of our employees is one of our primary considerations in the way we do business.
Delivering our strategy requires strong mutually beneficial relationships with suppliers, customers, governments, related parties, and other stakeholders. The directors are fostering effective communication and honest business relationships with key stakeholders’ and take into account stakeholders’ considerations when making decisions. Amongst our main stakeholders are our customers and the directors engage with the leadership of the businesses in order to assess the priorities (for example, within the context of business strategy updates, new service offerings, etc.).
The Company and its subsidiaries follow a triple bottom line – approach to sustainability – environmental, economic, and social. We work with our vendors to supply our customers with IT equipment as part of our service offerings that are environmentally friendly. In all our offices, warehouses, and storage facilities we work on continuous improvement of employee safety and engagement, energy efficiency, waste reduction and recycling.
We believe we have a responsibility to serve as a role model for the conduct of business in a manner that serves all our key stakeholders. Our employees expect nothing less. This means that we turn inward and make environmental stewardship a daily activity, and that we create opportunities for individuals to build careers and support themselves and their families in a respectful environment. It means that we conduct business in a manner with legal compliance, public policies and the ethics and values of the populations with whom we work as the standard. It also means that we pre-emptively negate risks, such as data breach and cybersecurity risks.
We have enlisted our Board of Directors, our senior leaders, and our employees across the globe to engage in our ESG initiatives and the daily steps that create measurable improvements in our workplace and employee experience, our communities, and our environment. These efforts share common themes. They are deliberate, forward looking, and impactful. We hold ourselves accountable for progress and work to measure the impact of each effort. We look to make positive impacts and to create a contagion of corporate responsibility by leading by example.
The Group’s key stakeholders are its customers. This interaction is of a direct nature. The Group fosters business relationships with suppliers, customers, and other stakeholders. The Group sells our service offerings to all types of companies requiring maintenance of IT equipment to extend its useful life with which we have developed long-term relationships. This is evidenced by the high customer retention and large number of long-term partners. We work closely with our major customers to foster close business relationships through joint planning of customer’s needs, consulting and collaboration in service offering development. We purchase our inventory from many suppliers, but have a few key providers that provide the bulk of our spare parts used when servicing customers. The mitigation of risk of rising costs of spare parts as well as other direct costs inputs is performed through both inclusion of contract provisions to pass through price changes and close collaboration with suppliers by keeping them continuously informed on Group service offerings and other requirements. The Group also has continuous engagement with tax authorities of United Kingdom (HMRC) and other Government institutions through regular filing of tax returns and other required documentation, and responding onto any queries or information requests that are being received by those institutions.
The directors ensure that the Group monitors their compliance with relevant corporate governance standards set by Park Place Technologies UK Holdings Limited and help assure that the Company and its subsidiaries act in ways that promote high standards of business conduct. Monitoring is being performed through formal channels such as periodic publications and communications related to core values, continuous education of the management and employees and mandatory trainings in the area of corporate compliance and ethical conduct that each employee must undertake on annual basis.
After weighing up all relevant factors, the directors consider which course of action best enables us to deliver our strategy through the long term, taking into consideration the impact on stakeholders. In doing so the directors act fairly as between the Group’s members but are not required to balance the Group’s interest with those of other stakeholders, and this can sometimes mean that certain stakeholder interests may not be fully aligned.
Our Board of Directors, executives and senior leaders hold themselves accountable for the business success of the organisation, with a further commitment to transparently and honestly communicate Group performance to employees and empower employees to contribute to the success of the organisation. We take pride in the work we have accomplished to date and the Group we are, and we look to amaze our stakeholders and continue to set an example for our corporate peers in the next year and beyond.