Responsibility statement of the Directors in respect of the Interim Report
Each of the Directors, whose names and functions are listed in the Directors and advisers section of this report, confirms that, to the best of his/her knowledge:
- the Interim Report includes a fair review of the development and performance of the business and the position of the Company;
- the consolidated interim financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting and give a true and fair view of the assets, liabilities, financial position and results of the Company, and are in compliance with the requirements set out in the Bermuda Companies Act 1981 (as amended);
- the Interim Report includes a fair review of the information required by:
a) 4.2.7R of the Disclosure Guidance and Transparency Rules, being an indication of important events that have occurred during the first six months of the current financial year and their impact on the consolidated interim financial statements, and a description of the principal risks and uncertainties for the remaining six months of the year; and
b) 4.2.8R of the Disclosure Guidance and Transparency Rules, being all related party transactions that have taken place in the first six months of the current financial year which have materially affected the financial position or performance of the Company during that period and any changes in the related party transactions described in the Annual Report and Accounts that could materially affect the financial position or performance of the Company during the first six months of the current financial year; and
- the consolidated interim financial statements should be read in conjunction with the latest Annual Report and Financial Statements, which were prepared in accordance with IFRS. These financial statements provide the information necessary to assess the Company’s position and performance, business model and strategy, and are fair, balanced and understandable.
Affirmed independently and collectively by:
Richard Lightowler
Fiona Beck
Peter Dubens
Steve Pearce
Board Composition
In April 2025, OCI announced Caroline Foulger would step down as Director and Chair on 2 September 2025, at the Company's AGM, after nine years of service. Steve Pearce, an Independent Non-Executive Director, was appointed as Interim Chair upon Caroline's retirement. The Board, led by Senior Independent Director Richard Lightowler, initiated a process to select a permanent successor, with updates to be provided in due course.