RWS AR 23 Final Single pages - Flipbook - Page 77
OUR GOVERNANCE MODEL
As an AIM listed company, RWS has chosen to implement the Quoted Companies Alliance Corporate Governance Code
(the QCA Code). The principles and disclosures laid out by the QCA Code provide a framework to ensure we have the
appropriate corporate governance arrangements in place.
The Board believes that it complies with all the principles of the QCA Corporate Governance Code and the following
pages include details of our compliance, which is reviewed annually in line with the requirements of the QCA Code. The
Board are aware the QCA Code has been updated and will ensure compliance for when this update takes a昀昀ect.
Deliver
growth
Principle
Compliance
COLLEAGUES
1
2
Establish a strategy
and business model
which promote
long-term value for
shareholders
Seek to understand
and meet
shareholders’ needs
and expectations
•
The Group strategy is set out on pages 12 to 15 in the Strategic Report section of
our Annual Report.
•
The strategy for RWS is agreed by the Board, and progress towards delivering
against objectives is tracked and debated by the Board and the Executive Team.
•
During FY23, the Board and Executive Team held several meetings speci昀椀cally
focusing on the Group’s strategic plan for creating value for the Group. Any
signi昀椀cant business decision is taken with reference to this plan.
•
Our objective is to continue to increase shareholder value in the medium- to longterm by growing the Group’s revenue, pro昀椀t before tax and earnings per share.
•
Our strategy to achieve this is focused on providing an increasing range of
complementary specialist translation, localisation, language and content technology,
intellectual property translation and 昀椀ling (IP services) and broader language
services to existing and new clients and driving organic growth.
•
This is supplemented by selective acquisitions, providing these are complementary
to our existing business, enhance shareholder value and allow the Group to maintain
conservative debt leverage within existing covenant requirements.
•
Investor relations is a priority for RWS and we strive to ensure that both the investor
and analyst communities understand our strategy, business model and 昀椀nancial and
operational performance.
•
Regular meetings are held with investors and analysts, mainly at investor roadshows
and conferences.
•
Our AGM is our primary forum to meet and communicate with our wider
shareholder base.
•
Shareholder feedback is received from our brokers and all shareholder feedback is
distributed to the Board.
•
Decision making at the Board takes into consideration how its decisions would
impact our shareholders. See page 64 and 65 for further details.
•
We announced in our interim report our intention to launch a Share Repurchase
Programme of up to £50 million to be completed before the Company's Annual
General Meeting in February 2024. The Group maintains a disciplined approach
to investment, returns and capital e昀케ciency, and as such considers the launch of
a repurchase programme as prudent in light of the Group's cash generation and
strong balance sheet.
GOVERNANCE REPORT
RWS Holdings plc — Annual Report 2023
77
