The Board’s Statement on S172(1)

MCG (Holdings) Limited and subsidiary companies

The Board’s Statement on S172(1)

The Board of Directors, in line with their duties under S172 of the Companies Act 2006, act in a way they consider would most likely promote the success of the business for the benefit of its members as a whole, and in so doing have regard to a range of matters when making decisions for the long term. Important decisions and matters of strategic importance to the Company are made in light of S172 considerations.

Through open dialogue with key stakeholders we have developed an understanding of their needs. As part of the decision-making process the Board consider the impact of decisions on relevant stakeholders, whilst having regard to more boarder factors such as the impact on the community, the environment and likely long-term consequences.

Our plans are designed to be of long-term benefit to the company by providing our customers with products and services which fit their needs and provide added value at the right price.

Company representatives meet with our key suppliers regularly and at all levels, to ensure performance is on track to deliver our business objectives.

Employees are crucial to the success of the business and we aim to be a responsible and attractive employer, who provides excellent pay and benefits together with the opportunity for career progression.

Our intention is to behave responsibly and ensure that management operate the business responsibly, with high standards of conduct and good governance, and in so doing will contribute to the long-term success of the business.