BNP PUK HOLDING LIMITED

Statement by the Directors in relation to Performance of their Statutory Duties in accordance with Section 172(1) Companies Act 2006

Section 172 of the Companies Act 2006 (“the Act”) requires Directors to take into consideration the interests of stakeholders in their decision-making having regard to the matters set out in Section 172(1)(a)-(f) of the Act. The following section sets out how the Directors have engaged with the Company’s stakeholders during the year.

The Company has no employees, however, as a subsidiary holding Company within the BNP Paribas Group (“the Group”), the Directors consider the impact of the Company’s activities on its shareholder, its subsidiaries, the BNP Paribas businesses that have an interest in the Company’s investments and other stakeholders. The Company’s stakeholders are consulted routinely on a wide range of matters including funding decisions, investment strategy, governance of its subsidiaries and compliance with Group policies with the aim of maximising investment returns for the benefit of its shareholder and ensuring that its subsidiaries maintain high standards of business conduct and governance.

The Company engages with its shareholder and subsidiaries on an ad hoc basis on requests for additional capital distributions or funding. The Directors assess such requests in light of the Company’s minimum capital requirements to maintain profitability in the long term. Alternative sources of funding were recommended to one of its subsidiaries during the year.

The performance of the Company’s investments are monitored periodically with executives from the BNP Paribas businesses that have an interest in and are responsible for managing such investments. The Board considered the Company’s investments in light of the Group’s corporate and social responsibility strategy and requested businesses to consider changing the composition of the Company’s investments to align to the Group’s strategy.

The Directors continued to provide oversight governance of its subsidiaries to ensure that they comply with the Group’s policies and maintain high standards of business conduct. The subsidiaries provide regular updates on their activities to the Directors. During the year under review the Directors requested the appointment of their nominated Director to the Board of one its subsidiaries to broaden the skills and experience of its board. Subsequent to the year end, the nominated Director was appointed by the subsidiary board.

 

BNP PARIBAS NET LIMITED

Statement by the Directors in relation to Performance of their Statutory Duties in accordance with Section 172(1) Companies Act 2006

Section 172 of the Companies Act 2006 (“the Act”) requires Directors to take into consideration the interests of stakeholders in their decision-making having regard to the matters set out in Section 172(1)(a)-(f) of the Act. The following section sets out how the Directors have engaged with the Company’s stakeholders during the year.

The Company provides services to BNP Paribas Group (“the Group”) subsidiaries and has no employees. As a wholly-owned subsidiary within the Group, the Directors consider the impact of the Company’s activities on its immediate parent, its Group subsidiary clients and its suppliers.

The Company’s stakeholders are consulted routinely on a wide range of matters including funding decisions, delivery of the Group’s strategy, compliance with Group policies, corporate governance matters and operational matters in relation to the delivery of the Company’s services, to ensure that it provides the appropriate level of service to its clients and that the Company operates high standards of business conduct and governance.

The Directors engage with its immediate parent Company on various matters including governance.  During the year under review two new Directors were appointed to broaden the skills and experience of the Board.

During the year, the Company approved the business proposal to expand the Company’s activities in response to a change in the Group’s telecom strategy. This resulted in the Company becoming more involved in the infrastructure for delivering the telecoms strategy, which will help to improve client service and resilience across the Group’s telecoms network.

 

HAREWOOD HELENA 1 LIMITED

Statement by the Directors in relation to Performance of their Statutory Duties in accordance with Section 172(1) Companies Act 2006

Section 172 of the Companies Act 2006 (the “Act”) requires Directors to take into consideration the interests of stakeholders in their decision-making having regard to the matters set out in Section 172(1)(a)-(f) of the Act. The following section sets out how the Directors have engaged with the Company’s stakeholders during the year.

The Company is wholly-owned by BNP Paribas S.A., and the Directors consider the impact of the Company’s activities on its immediate parent. Any decisions taken will be aligned to the strategy and standards of the BNP Paribas Group (the “Group”) and be made in the best interests of all stakeholders. Impacts of any decisions will be determined through ongoing risk assessment conducted with all relevant stakeholders.

The Company’s stakeholders are consulted routinely on a wide range of matters including funding decisions, delivery of the Group’s strategy, compliance with Group policies, corporate governance matters and operational matters, to ensure that the Company operates high standards of business conduct and governance in line with the Group.

The Company has no employees or customers. The Company has intra-group suppliers and recognises the importance of building strong relationships with its suppliers. The Board ensures it has visibility over these key relationships and takes these into account when making decisions. The Company believes that the behaviour of suppliers must adhere to the Group’s commitments on environmental, social and governance issues.

The Company seeks to be a contributor to responsible and sustainable global development. Its ambition is to have a positive impact on its stakeholders and on the wider society. The Company strives to mitigate potential violation of social or environmental rights, including human rights, from its financing and investment activities.

The Directors continue to provide the highest standards of governance to ensure that they comply with the Group’s policies and maintain high standards of business conduct.

The Directors engage with its immediate parent company on various matters including governance. Subsequent to the year end one new Director was appointed to broaden the skills and experience of the Board.

 

HAREWOOD HELENA 2 LIMITED

Statement by the Directors in relation to Performance of their Statutory Duties in accordance with Section 172(1) Companies Act 2006

Section 172 of the Companies Act 2006 (the “Act”) requires Directors to take into consideration the interests of stakeholders in their decision-making having regard to the matters set out in Section 172(1)(a)-(f) of the Act. The following section sets out how the Directors have engaged with the Company’s stakeholders during the year.

The Company is wholly-owned by Cardif Assurance Vie, and the Directors consider the impact of the Company’s activities on its immediate parent. Any decisions taken will be aligned to the strategy and standards of the BNP Paribas Group (the “Group”) and be made in the best interests of all stakeholders. Impacts of any decisions will be determined through ongoing risk assessment conducted with all relevant stakeholders.

The Company’s stakeholders are consulted routinely on a wide range of matters including funding decisions, delivery of the Group’s strategy, compliance with Group policies, corporate governance matters and operational matters, to ensure that the Company operates high standards of business conduct and governance in line with the Group.

The Company has no employees or customers. The Company has intra-group suppliers and recognises the importance of building strong relationships with its suppliers. The Board ensures it has visibility over these key relationships and takes these into account when making decisions. The Company believes that the behaviour of suppliers must adhere to the Group’s commitments on environmental, social and governance issues.

The Company seeks to be a contributor to responsible and sustainable global development. Its ambition is to have a positive impact on its stakeholders and on the wider society. The Company strives to mitigate potential violation of social or environmental rights, including human rights, from its financing and investment activities.

The Directors continue to provide the highest standards of governance to ensure that they comply with the Group’s policies and maintain high standards of business conduct.

The Directors engage with its immediate parent company on various matters including governance. Subsequent to the year end one new Director was appointed to broaden the skills and experience of the Board.

 

  • BNP Paribas