Board Responsibility Statement

The Board of Directors is responsible for the governance of the Company and specifically for:

• promoting the long-term sustainable success of the Company, generating value for the Shareholder and contributing to wider society;

• setting the Company’s strategic aims;

• providing the leadership necessary to deliver these aims and associated objectives;

• establishing the purpose, values and strategy of the Company and ensuring these are aligned with its culture;

• ensuring all directors act with integrity, lead by example and promote the desired culture;

• establishing a framework of prudent and effective controls enabling risk to be assessed and managed;

• supervising the management of the business;

• ensuring that the necessary resources are in place for the Company to meet its objectives and measure performance against them;

• ensuring the Company complies with relevant laws and regulations;

• ensuring effective engagement with and participation from the Shareholder/other stakeholders; and

• reporting to the Shareholder on its stewardship, in accordance with the requirements of the MoU.

The Board remains cognisant that whilst it is responsible for the operation of a commercial regeneration company, the Company operates in a multi-stakeholder environment, with the public of Jersey as the ultimate stakeholder.