CORPORATE GOVERNANCE
Section 172 Statements
Corporate Governance
Section 172 Statements
-
Registered users can place Bulk Orders . Contact local Coats office for registration.
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.
Recent legislative changes now require certain companies to provide additional information in their strategic reports to allow shareholders to better understand and assess how directors are discharging their duty to promote the success of the company and the other matters set out in Section 172 of the Companies Act 2006 (s172).
Please click to access the Coats Group plc s172 statement.
Please find below the s172 statements for the Coats Group subsidiaries which meet the qualifying conditions. During the course of the year, the directors of UK subsidiaries of Coats Group plc continued to have appropriate consideration of the s172 matters when reviewing proposals and conducting the business of these companies:
Coats Industrial Thread 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 44 to 49 in the Annual Report for Coats Group plc for the year ended 31 December 2024. 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 receiving royalties from fellow group undertakings, decisions on receiving royalties 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.
Coats Holdings 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). When making decisions, the Board recognises the importance of considering the needs and priorities of our stakeholders to help determine what is most likely to drive sustainable 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 44 to 49 of the Annual Report for Coats Group plc for the year ended 31 December 2024. 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 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). When making decisions, the Board recognises the importance of considering the needs and priorities of our stakeholders to help determine what is most likely to drive sustainable 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 44 to 49 of the Annual Report for Coats Group plc for the year ended 31 December 2024. 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 engagement with UK pension scheme pension trustees to purchase a £1.3 billion bulk annuity policy from Pension Insurance Corporation plc to insure the remaining 80% of the UK scheme’s pension liabilities. As a result of the buy-in, all the financial and demographic risks relating to the scheme’s liabilities are now fully hedged. This buy-in represents a significant step in the Company fully insuring its UK pension obligations. The interests of employees and shareholders of the Group were appropriately considered when agreeing this transaction.
Coats Group Finance Company 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). When making decisions, the Board recognises the importance of considering the needs and priorities of our stakeholders to help determine what is most likely to drive sustainable 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 44 to 49 of the Annual Report for Coats Group plc for the year ended 31 December 2024. 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 bank facility and the USPP Senior Notes during 2024.
J. & P. Coats 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 44 to 49 of the Annual Report for Coats Group plc for the year ended 31 December 2024. 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.
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.