s.172 Statements
s.172 Statements
The Companies (Miscellaneous Reporting) Regulations 2018 require a number of NEC Group entities to publish a statement explaining how the Directors have given due regard for the matters set out in section 172(1) (a) to (f) of the Companies Act 2006 while performing their duty to promote the success of the Company for the benefit of its members as a whole ("s.172 statement").
Below are the s.172 statements for the Group's entities captured by these Regulations.
The National Exhibition Centre Limited s.172 Statement 2024
Statement by the Directors on performance of their statutory duties in accordance with s.172(1) Companies Act 2006
The directors have regard for their duty to promote the success of the company for the benefit of its members as a whole. The statements below explain the matters considered by the directors and also set out how the directors have engaged with employees, suppliers, customers and others and have regard to employee interests and the need to foster the company’s business relationships with suppliers, customers and employees.
(i) The likely consequences of any decision in the long term
The NEC Masterplan sets out our strategy for the NEC campus over the next 15 years. This important strategic document guides our internal decision-making and how we work with our many partners and stakeholders to balance what can sometimes be competing priorities and find mutually acceptable ways forward.
(ii) The interests of the company's employees
The company recognises that attraction and retention of employees is critical to the delivery of our day-to-day operations and supports employees through its policies, provision of learning and development and remuneration. We engage with our employees through regular and open communications including weekly news updates, monthly management briefings and events.
(iii) The need to foster the company's business relationships with suppliers, customers and others
The company aims to offer a first-class experience for customers and visitors through investment in a balanced and diverse choice of facilities and service partners. We work closely with business partners across the region including Birmingham Airport, Birmingham International Railway Station, HS2 and National Highways.
Through our procurement strategy we aim to create partnerships with our suppliers. The company makes every effort to pay suppliers when due and formally reports on supplier payment practices.
(iv) The impact of the company's operations on the community and the environment
We take our community responsibilities seriously and work closely with government agencies and local authorities on a wide range of projects and initiatives including Masterplan, High Speed Two program (HS2) and transport infrastructure matters. We take our environmental responsibilities very seriously across all areas such as carbon reduction, water and waste. Managing waste is a key priority and we have implemented an on-site recycling centre that reduces the level and cost of waste going to landfill sites.
(v) The desirability of the company maintaining a reputation for high standards of business conduct
The company is a key contributor of economic generation in the West Midlands Region and it has a high profile that generates significant public interest. The company operates to the highest standards of business conduct underpinned through a suite of policies which are regularly reviewed.
(vi) The need to act fairly between members of the company
The relationship between the company and its members is primarily guided by a Shareholder Agreement. The limited number of members also enables each group to be represented on the Board of Directors.
LHTCA Midco Limited s.172 Statement 2024
Statement by the Directors on performance of their statutory duties in accordance with s.172(1) Companies Act 2006
The directors have regard for their duty to promote the success of the Group for the benefit of its members as a whole. The statements below explain the matters considered by the directors and also set out how the directors have engaged with employees, suppliers, customers and others and have regard to employee interests and the need to foster the Group’s business relationships with suppliers, customers and employees.
(i) The likely consequences of any decision in the long term
The NEC Masterplan sets out our strategy for the NEC campus over the next 15 years. This important strategic document guides our internal decision-making and how we work with our many partners and stakeholders to balance what can sometimes be competing priorities and find mutually acceptable ways forward.
(ii) The interests of the Group's employees
The Group recognises that attraction and retention of employees is critical to the delivery of our day-to-day operations and supports employees through its policies, provision of learning and development and remuneration. We engage with our employees through regular and open communications including weekly news updates, monthly management briefings and events.
(iii) The need to foster the Group's business relationships with suppliers, customers and others
The group aims to offer a first-class experience for customers and visitors through investment in a balanced and diverse choice of facilities and service partners. We work closely with business partners across the region including Birmingham Airport, Birmingham International Railway Station, HS2 and National Highways.
Through our procurement strategy we aim to create partnerships with our suppliers. The group makes every effort to pay suppliers when due and formally reports on supplier payment practices.
(iv) The impact of the Group's operations on the community and the environment
We take our community responsibilities seriously and work closely with government agencies and local authorities on a wide range of projects and initiatives including Masterplan, High Speed Two programme (HS2) and transport infrastructure matters. We take our environmental responsibilities very seriously across all areas such as carbon reduction, water and waste. Managing waste is a key priority and we have implemented an on-site recycling centre that reduces the level and cost of waste going to landfill sites.
(v) The desirability of the Group maintaining a reputation for high standards of business conduct
The Group is a key contributor of economic generation in the West Midlands Region and it has a high profile that generates significant public interest. The Group operates to the highest standards of business conduct underpinned through a suite of policies which are regularly reviewed.
(vi) The need to act fairly between members of the Group
The relationship between the Group and its members is primarily guided by a Shareholder Agreement. The limited number of members also enables each group to be represented on the Board of Directors.