Section 172 statement - Antalis relationships with stakeholders

Antalis Limited – Annual report – 6 September 2024

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 with the people in the company. A weekly leadership meeting enhances 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 people, highlighting business performance and outlining support on several topics. Throughout the Company, team meetings and briefings are held to ensure that information is cascaded, and feedback is given to all employees. The UK&I Executive Committee (ExCom) meets monthly.

The Directors consider the existing meetings with JWP (Joint Working Party) and NNC (National Negotiating Committee) essential for an open dialogue with our people on specific topics of mutual interest. The ICE (Information and Consultation of Employees Committee), formed of functional representatives from across the business, works well and is 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 colleagues in our Antalis purchasing teams in Paris to cover strategic Papers, Packaging, and Visual Communication suppliers. They also directly engage with local representatives of those strategic suppliers. There is direct engagement with local trade suppliers through the Commercial Directors and purchasing management as well as direct engagement with local non-trade suppliers.

The Directors continuously review the Company's logistics outsourcing position in order to maximise cost flexibility.

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.

The Directors regularly review the Company's IT strategy. The Company has successfully implemented the SAP ERP system and our new E-Shop in 2023. This will further strengthen our position in the Papers, Packaging and Visual Communication markets and enhance our customer experience via the new E-Shop.

The Packaging and Visual Communication markets continue to present significant growth opportunities. The Directors see that this continued investment and development will benefit numerous stakeholders.

Table A – Supplier relationships

Trade

The Directors value the close relationship they have with their trade suppliers. The strategic suppliers' relationships are managed mainly by colleagues in Antalis purchasing teams, based in Paris, but also locally with the UK Commercial Directors. Regular discussions occur on forecasts, pricing, terms, developments, and operational matters. The UK team manages local suppliers and covers the above areas.

Non-Trade

Non-trade suppliers are managed locally except where Group policies drive scale benefits. The Company values these relationships and has a close dialogue with suppliers.

Table B – Shareholder relationship

KPP Group Holdings Co. Ltd (KPP)	Antalis Limited is a subsidiary of Antalis SAS, and the Antalis SAS Board benefits from close working relationship with KPP.
Public	KPP is listed on the Tokyo Stock Exchange.

Table C – Other relationships

Customers	The Company seeks to be seen as the first choice of customers through our people and value proposition.
Employees	The Company's Directors continue to recognise the importance of internal talent management and the use of Performance Management reviews to support the development of its employees. There are also multiple communication methods to ensure our employees are well-informed on Company matters.
Pension Fund	The Company and Trustees continue to work collaboratively together to ensure our pension schemes are well managed. During the year, the Trustee of the Antalis Pension Scheme, in conjunction with the Company, purchased a 'buy-in' insurance contract where it involved relevant stakeholders.
Community	The Company's Directors are very conscious of its relationship with the community surrounding its portfolio of sites. No specific changes to sites and operations during 2023 required community consultation.

The Executive Committee meets regularly to agree on strategic and tactical decisions. In making these decisions, the Committee considers its obligations to its shareholders, customers, suppliers, and employees.