Rurelec PLC

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Corporate Governance

The Board’s Statement on section 172(1) of Companies Act 2006

The Board of Directors of Rurelec PLC (the “Company”), have acted in accordance their duties codified in law, which include their duty to act in the way in which they consider, in good faith, would be the most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in section 172(1) of the Companies Act 2006.

Section 172 considerations are embedded in decision making at Board level and through the Company. As part of the Board’s decision-making process, the Board and its Committees consider the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors, including the impact of the Company’s operations on the community and environment, responsible business practices and the likely consequences of decisions in the long term. Issues, factors and stakeholders which the Directors have considered when discharging their duty under section 172(1) are detailed through the 2022 Annual Report.

Our vision, purpose and values are set out in the Strategic Report as are the risks facing our organisation and the mitigating actions we take.

The Corporate Governance Report contains examples of how the Directors have engaged and have regard, act in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, and in doing so have regard to a range of matters when making decisions for the long term.  Key decisions and matters that are of strategic importance to the Company are appropriately informed by section 172 factors.

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