Corporate Responsibility

The Board places the highest priority on conducting the Group’s business in an ethical, considerate and responsible manner, placing the needs of our key stakeholders, the environment and communities in which we operate at the core of everything we do.

The Board believes that long-term sustainable profitability is driven by a strong culture of corporate responsibility. The origin of this culture stems from a robust governance structure that ensures strong stewardship throughout the business, starting with the Board of Directors. Leading by example, the Board must conduct itself and set core values, corporate strategy and business objectives in accordance with good environmental, social, and governance (“ESG”) principles. To achieve meaningful results requires a strong culture of ESG to be entrenched in the organisation at every level.

The Board have adopted a Corporate Responsibility framework which aligns with the business objectives and sets out the Group’s ESG strategy. Progress against this ESG strategy is assessed on a monthly basis in Board meetings.


The principles underpinning our Corporate Responsibility framework are as follows:

  1. To minimise the impact and maximise the benefits that our work has on the environment and people around us.

  2. To consider corporate responsibility in all of our business decisions.


  3. To comply with, and exceed where practicable, all applicable legislation, regulations, and codes of practice.


  4. To commit to annual practical but meaningful targets for improvement in our corporate responsibility performance.


The goals arising from the Board’s ESG strategy are to:

  1. Raise awareness of the environmental impact of the Group’s activities across the business and encourage employees to bring ideas for improvements.

  2. Foster a collaborative, inspiring working environment which allows employees to develop their careers.


  3. Support charitable causes connected with the business through donation of a proportion of profits.


  4. Continually review the Group’s governance framework to improve organisational oversight.

In developing our corporate responsibility framework, we aim to deliver gradual but continuous improvements in our performance every year. As a result, our approach continues to evolve as we learn lessons along the way.


Governance Matters

Quixant has chosen to adopt the Quoted Companies Alliance (QCA) Corporate Governance Code (“Code”).

The board at least annually or more frequently as required assesses our performance against each of these principles and identifies areas for improvement. This assessment is led by the Non-Executive Chairman, supported by the Company Secretary. Details of our compliance against the principles of the Code are disclosed in the statement of compliance which is updated annually.

The Board has delegated certain responsibilities to sub-committees and the executive committee.


Audit Committee

The Board has established an audit committee which is responsible for ensuring that the financial performance of the Company is properly reported and monitored, including reviews of the annual and interim accounts, results announcements, internal control systems and procedures, and accounting policies. Guy van Zwanenberg (chairman) and Francis Small are the current members of the audit committee. Under the terms of reference, the audit committee comprises a minimum of two independent non-executive directors and meets at least twice per year.  The Company Secretary is the secretary of the audit committee.

 


Remuneration Committee

The Board has established a remuneration committee which is responsible for setting the remuneration policy for the executives of the Company. Francis Small (chairman) and Guy van Zwanenberg are the current members of the remuneration committee. The terms of reference require the remuneration committee to comprise of at least two independent non-executive directors who meet at least twice per year. The Company Secretary is the secretary of the remuneration committee.

The executive committee meetings are attended on a quarterly basis by a Board member by means of oversight.

The Board, sub-committee, and executive committee structure and operation are described below.

Quixant plc Board
Chaired by: Independent Non-Executive Chairman
Members: Quixant plc Directors
Attended by: Executive Committee (on quarterly basis)
Meeting frequency: Monthly
Audit Committee
Chaired by: Independent Non-Executive Director
Members: Independent Non-Executive Chairman
Attended by: Executive Directors (by invitation)
Meeting frequency: At least twice annually
Remuneration Committee
Chaired by: Independent Non-Executive Chairman
Members: Independent Non-Executive Director
Attended by: Executive Directors (by invitation)
Meeting frequency: At least twice annually
Group Executive Committee (ExCo)
Chaired by: Group CEO
Members: Group CFO
Gaming CCO and CTO
Densitron CEO
Attended by: Independent Non-Executive Chairman (on quarterly basis)
Meeting frequency: Monthly
Gaming Executive Committee
Chaired by: Gaming CCO and CTO (alternate)
Members: Group CFO
Attended by: Group CEO (quarterly)
Meeting frequency: Monthly
Densitron Executive Committee
Chaired by: Densitron CEO
Members: Group CFO Densitron Product Director
Attended by: Group CEO (quarterly)
Meeting frequency: Monthly

 


Environmental Responsibility

The Board seeks to minimise the Group’s environmental footprint. In assessing our environmental impact and setting targets for improving our footprint the Board considers:

The Board attempts to link environmental performance with financial performance to understand the short-term and long-term financial implications for decisions made. While in the short-term, improvements in environmental performance may increase the cost of sales, over the longer term a strong sustainability culture is expected to be value creative.

We engage with our customers and suppliers to explore ways to reduce the environmental impact of our products.

Each year the Board sets targets for improvement in our environmental performance. Progress against these targets is reported in our Annual Report and Accounts.


Social Responsibility

Quixant’s social responsibility framework principally seeks to improve our social contribution to the key stakeholders associated with the business in the following ways.
Employees

Provide equal opportunities to all employees and prospective employees to enhance their careers.

Provide employees with access to training and development programs and an annual performance appraisal.

Prioritise health, safety, and wellbeing of staff above profitability.

Customers

Treat all customers with respect and fairness.

Operate strict anti-bribery and whistleblowing policies with the requirement for material gifts and entertainment to be reported.

Regularly conduct customer satisfaction assessments.

Shareholders

Fulfill our fiduciary responsibility to operate the business to deliver maximum long term shareholder value.

Communicate material business progress in a timely manner and at least semiannually.

Facilitate non-executive engagement with shareholders at least annually to critique management.

Communities Affected by Our Operation

Identify and implement ways to support communities local to our operations, such as charitable donations, trainee/internship programmes.

Supply Chain Partners

Require supply chain partners to comply with the Modern Slavery Act 2015 and protect their staff through ethical and safe business practices.

Operate a strict anti-bribery and whistleblowing policy with the requirement for material gifts and entertainment to be reported.

Consistently pay supply chain partners on time.

 

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