Governance / Corporate governance statement
Focus in 2023
The Board has considered and overseen several key actions throughout the year in accordance with its principles. At a high level, these actions include:
Board actions in 2023
u
Engaged
Engaged with shareholders on the performance of the underlying investments and capital allocation
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Negotiated
Negotiated a new credit facility for the Company and the liquidation of Fund I
G
Evaluated
Evaluated the roles, membership and terms of reference of each of the committees
G
Evaluated
Evaluated the performance of Oakley and other service providers
G
Evaluated
Evaluated the independence and credentials of KPMG and alternate external audit firms
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Recommended
Supported the Nominations Committee recommendation to reappoint four of the Directors
X
Approved
Approved the Dividend Declarations of 2.25p each
X
Approved
Approved a commitment of $100m into Oakley’s Touring Venture Fund
X
Approved
Approved a commitment of €190m into Oakley’s Origin II Fund
8
Monitored
Monitored the performance of Oakley and the underlying investments
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Recommended
Recommended to the shareholders as part of the AGM to vote for the Company to continue as constituted
€
Negotiated
Negotiated the restructuring of its loan and indirect investment in Time Out to be a fully direct shareholding
€
Negotiated
Negotiated the debt-to-equity transaction in North Sails, reducing the Company’s credit exposure