CORPORATE GOVERNANCE
Section 172 Statements
Corporate Governance
Section 172 Statements
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We understand that our business can only grow and prosper over the long term if we understand and respect the views and needs of our key stakeholders.
Please click to access the Coats Group plc s172 statement.
Coats Industrial Thread Limited
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is not only the right thing to do but is also core to our ability to drive value creation over the longer term. As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered. The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review what are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
Coats Holdings Limited
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is not only the right thing to do but is also core to our ability to drive value creation over the longer term. As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered. The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review what are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
Coats Limited
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is not only the right thing to do but is also core to our ability to drive value creation over the longer term. As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered.
The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review what are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
The Directors of the Company implemented the decisions made by Coats Group plc following their engagement with pension trustees to agree the one-off lump sum contribution of £10 million in December 2023 to switch off contributions from 1 January 2024. The interests of employees and shareholders of the Group were appropriately considered when agreeing this transaction.
Coats Group Finance Company Limited
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is not only the right thing to do but is also core to our ability to drive value creation over the longer term. As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered. The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review what are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
The Directors of the Company implemented the decisions made by Coats Group plc following their engagement with debt providers as part of the refinancing of the acquisition bank facility via the USPP market during 2023.
J. & P. Coats Limited
Coats Digital Limited
Section 172 Statement – Duty to promote the success of the company
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments and receiving management charges are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered. The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review which are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
Fast React Systems Limited
Section 172 Statement – Duty to promote the success of the company
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
As the principal activity of the Company is the holding of investments in group companies, decisions on receiving and making dividend payments and receiving management charges are the main decisions taken where we ensure that the impact of these decisions, including the impact on our stakeholders, is considered. The Company’s approach to its suppliers and the wider employees of the Coats Group was considered as part of the approval process for the Modern Slavery Statement published on the Coats Group plc website. We regularly review which are our key stakeholder relationships and examine how we appropriately engage with them. We also consider ways to ensure that we maintain open lines of communication with those stakeholder groups and whether there are ways that the Board’s engagement can be improved to help us operate more effectively.
Texon International Group Limited
Section 172 Statement – Duty to promote the success of the company
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is, not only the right thing to do but is also core to our ability to drive value creation over the longer term.
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
Texon (Newco 2) Ltd
Section 172 Statement – Duty to promote the success of the company
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is, not only the right thing to do but is also core to our ability to drive value creation over the longer term.
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
Texon Overseas
Section 172 Statement – Duty to promote the success of the company
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is, not only the right thing to do but is also core to our ability to drive value creation over the longer term.
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
Torque Group International Fortune Limited
Section 172 Statement – Duty to promote the success of the company
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is, not only the right thing to do but is also core to our ability to drive value creation over the longer term.
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.
Torque Group International Wealth Limited
Section 172 Statement – Duty to promote the success of the company
Section 172 of the Companies Act 2006 requires the Directors to promote the success of the Company for the benefit of the members as a whole, having regard to the interests of stakeholders in their decision making (S172 Factors). The Board believes that considering, and balancing, the needs and priorities of our stakeholders in key business decisions is, not only the right thing to do but is also core to our ability to drive value creation over the longer term.
As a wholly owned subsidiary of Coats Group plc, our key stakeholders are aligned with our ultimate parent company and you can read more about that stakeholder engagement on pages 49 to 51 of the Annual Report for Coats Group plc for the year ended 31 December 2023. By considering Coats Group’s purpose, vision and values together with the strategic priorities, we balance outcomes for our key stakeholders alongside long-term sustainable growth.