As the new Chair of Synectics plc, I am pleased to present this year’s Corporate Governance statement. As Chair, it is my responsibility to ensure that these vital governance practices are integrated into both the overall objectives and day-to-day activities of the Board.

This year, the Board has gone through substantial change, with Steve Coggins stepping down as a Director after many years of involvement with Synectics, followed by the appointment of myself as Chair, and the subsequent appointment of Jon Kempster as Audit Committee Chair and Independent Non-Executive Director.

In August, we were deeply saddened by the sudden passing of Paul Webb, Chief Executive Officer, who was instrumental in shaping the Company’s strategic direction and driving its ongoing financial progress. Having stepped up to fill the role of Interim Chief Executive Officer whilst continuing on as Chief Financial Officer, Amanda Larnder was formally appointed Chief Executive Officer in November. Amanda will continue to oversee the Company’s finance and administrative functions until her replacement as Chief Financial Officer is appointed, the search for which is well underway.

I am happy to confirm that the Board remains fully committed to ensuring that high standards of governance, values and behaviours are consistently applied across the Group, helping to ensure the integrity of our business, the successful delivery of our strategy, and the long-term success of the Group as a whole.

Following the introduction of the Quoted Companies Alliance Corporate Governance Code 2023 (the ‘2023 Code’), which applies to financial years beginning on or after 1 April 2024, the Board has decided to continue to adopt, and comply with, the 2018 Quoted Companies Alliance Corporate Governance Code (the ‘2018 Code’) for the current year and will report against the 2023 Code in next year’s Annual Report.

Our 2024 Annual Report & Accounts and the Corporate Governance section of our website outline the Company’s approach to corporate governance and report how it complies with the ten principles of the 2018 Code.

Throughout the year, the Company actively engaged with shareholders and stakeholders regarding the ongoing business performance and future strategy. Further details on stakeholder engagement are available on pages 40 and 41 of our 2024 Annual Report & Accounts.

The primary channels for communicating the Group’s corporate governance framework include our Annual Report & Accounts, disclosures on the Company’s website, and announcements to the London Stock Exchange. Additionally, the Company addresses any specific enquiries from private and institutional shareholders through direct engagement.

The Board and senior management consistently strive to demonstrate the Company’s values, fostering a strong ethical culture across the Group. These values inform decision-making and behaviour at all levels and are supported by internal policies and practices that ensure no one is discriminated against and that we uphold our commitments to ethical practices in all aspects of the Company’s operations.

Bob Holt
Non-Executive Chair
3 March 2025