Section 172 statement - Antalis relationships with stakeholders

Antalis Limited – Annual report – 28 September 2022

Industry: Paper and Packaging Merchant

CORPORATE GOVERNANCE

This section serves as our section 172 statement. Section 172 of the Companies Act 2006 requires the Directors to take into consideration the interests of stakeholders in their decision making. The Directors continue to have regard to the interests of the Company’s employees and other stakeholders, including the impact of its activities on the community, the environment and the Company’s reputation, when making decisions. Acting in good faith and fairly between members, the Directors consider what is most likely to promote the success of the Company for its members in the long term.

The Directors are fully aware of their responsibilities to promote the success of the Company in accordance with section 172 of the Companies Act 2006.

• The Directors regularly review all principal stakeholders and how we engage with them.

• Table A notes the type of relations the Antalis Limited Directors have with its suppliers.

• Table B notes the type of relations the Antalis Limited Directors have with its shareholders.

• Table C notes the type of relations the Antalis Limited Directors have with its other stakeholders.

• There are several ways in which the Directors communicate to the staff of the company. There is a weekly leadership meeting to enhance the level of interaction across the business. Additionally, there are regular communications via email and newsletter from the Managing Director and our Internal Communications team to all staff highlighting business performance and also to outline support on a number of welfare topics.

Throughout the Company, team meetings and briefings are held to ensure that information is cascaded and
feedback given to all employees. The Executive Committee (ExCom) sits once a month.

• The Directors considers that the existing meetings with JWP (Joint Working Party), NNC (National Negotiating Committee), ICE (Information and Consultation of Employees Committee) works well and are attended by the Supply Chain Director, HR Director and Managing Director.

• The Directors continue to work responsibly with Antalis Limited’s suppliers. It employs a segmented approach across a wide portfolio of businesses:

• The UK&I Commercial teams work with both colleagues in our Antalis Group purchasing teams to cover

strategic paper, packaging and visual Communications suppliers and also, they directly engage with local
representatives of those strategic suppliers.

• Direct engagement with local trade suppliers through the Commercial Directors and purchasing management.
• Direct engagement with local non-trade suppliers.

• The Directors continuously review its outsourcing position in order to build greater cost flexibility.

• With the changing market for paper supply in the UK and Ireland, the Directors took a decision to consolidate its operations within its two East Midlands based Central Distribution Centres with the aim of reducing cost, reducing working capital and strengthening customer service. This was completed in June 2021.

• The Company operates four defined benefit pension schemes as well as a defined contribution scheme. The Company continues to work closely with the Trustees of the four defined benefit schemes to drive value from the funding provided.

• The Company’s IT strategy is regularly reviewed by the Directors, balancing out the need for in-house IT

teams and specialist support to maintain its various ERP and other systems.

• The Packaging market continues to present significant growth opportunities. The Directors see that continued investment and development will present opportunities for numerous stakeholders.

• The well-being of all stakeholders is of paramount concern to the Directors. The COVID-19 pandemic has

brought this even more to the forefront of the Director’s thinking and action planning.