Section 172 Statement

Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006

Inspired has a clearly defined organic growth strategy, supported by accretive acquisitions. The strategy is supported through documented operational business goals and objectives that are communicated with employees and other relevant stakeholders.

Decisions made by the Directors during the year ended 31 August 2023 included the approval of issue of shares to various institutional shareholders, the EBT and employees; approval of the acquisitions of My Online Schooling, Balboa, CELV and Alpha Plus; approval of new borrowings; approval of entering of foreign exchange instruments; and approval of various staff restructuring activities.

Our decisions are made to have a long-term beneficial impact on the Company and to contribute to the Company’s success in delivering a better quality education for our students. Our decisions take into account the impact of the Company's operations on the community and environment, and our wider societal responsibilities.

The Board of Directors consider that in the decisions taken during the year, they have acted in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to (amongst other matters):

– the likely consequences of any decision in the long term;
– the interests of the Company’s employees and employees of the Company’s subsidiaries;
– the need to foster the Company’s business relationships with suppliers, customers and others;
– the impact of the Company’s operations on the community and the environment;
– the desirability of the Company maintaining a reputation for high standards of business conduct; and
– the need to act fairly between members of the Company.

The Board reviews material new contracts (such as acquisition agreements, refinance transactions), to ensure that the appropriate level of diligence has been performed in understanding the obligations, risks and terms. This enables the Company to protect the integrity and long-term sustainability of its business, to meet its strategic objectives and to create value for its shareholders, customers and suppliers.

Our intention is to behave responsibly and ensure that management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours.

Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our employees is one of our primary considerations in the way we do business. The Company also has in place an equity ownership structure for certain senior management that aligns management’s remuneration to the long-term sustainable success of the Company.

During the year, when we have restructured parts of the Company, we followed best practices around consultation and engaged staff and their representatives to explore suitable alternative employment opportunities before progressing with redundancies. As part of our ongoing approach to proactive employee relations, we run staff opinion surveys throughout the year, sharing results and consulting with our employees on how to make improvements.

The Company, and all of its subsidiaries operate a zero-tolerance approach to modern slavery and human tracking. Further information is available on our website.

We also aim to act responsibly and fairly in how we engage and co-operate with all of our other primary stakeholders - our customers, suppliers, communities, government regulators, debt providers, and shareholders - all of whom are integral to the success of the Company.

The Board is committed to social responsibility, community engagement and environmental sustainability. It achieves this through its commitment to a culture of ensuring the safety, health and wellbeing of everyone who works in the Company or for its subsidiaries; creating positive environmental and social impact; and valuing and respecting all staff.

The Company’s website (www.inspirededu.com), and social media channels provide extensive and up-to-date news on recent developments.

3 Burlington Gardens, London W1S 3EP
T: +44 20 3867 9961 | E: admin@inspirededu.com
Inspired Education Holdings Limited - 10392529