Section 172 Statement

The Directors consider in good faith that they have complied with the requirements of Section 172(1)(a)-(f) of the Companies Act 2006 in their decision making and the performance of their duties. Key decisions are always discussed at Board level and collectively the Directors have around 200 years automotive industry experience.

We have a set of strategic objectives which are updated annually covering sales, customer satisfaction, financial controls, HR and other key KPI’s that we are working towards as a Board. The aim of all these objectives is to build a sustainable business model and we continue to look for long term benefits to our actions. As a board we ensure legislative compliance in all areas to protect the business. Health and Safety, Financial Conduct Authority, HR and other areas are regularly reviewed amongst the Directors.

The strategic objectives are cascaded to our employees who are pivotal in driving the business forwards. We continue to work on our employee engagement through various initiatives and recognise the importance of their contribution towards the business.

We engage with all our key stakeholders on a regular basis and are very open with our communication style. This includes all our manufacturer partners and funders.

We view ourselves as being a key part of the local community that we operate in and have many sponsorship arrangements. We are also keen to protect our local environment by promoting new vehicle technologies, energy efficiency in our facilities and recycling our own waste.

Our behaviours are governed by an established set of core values with the acronym CAPRI. This stands for Care, Accountability, Performance, Respect and Integrity which creates a high standard of behaviour and professionalism in all our dealings with suppliers, customers and the local community.

As a Board we act fairly to our shareholders and seek to generate long term value.