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Section 172 Statement

Year ended: 31 March 2021

We conduct all of our business honestly and ethically. We act professionally, fairly and with integrity in all our dealings – wherever we operate.


Section 172 of the Companies Act 2006 (the ‘Act’) requires In discharging their duties each director will seek each of our board directors, individually and collectively, to act in the way they consider, in good faith, would most likely promote the long-term success of the company for the benefit of its members as a whole. In doing this they are required to have regard, amongst other relevant matters, to the:

(a) likely consequences of any decisions in the long term

(b) interests of the company’s employees

(c) need to foster the company’s business relationships with suppliers, customers and others

(d) impact of the company’s operations on the community and environment

(e) desirability of the company maintaining a reputation for high standards of business conduct

(f) need to act fairly as a between members of the company.

In discharging their duties each director will seek to balance the interests, views and expectations of Caledonia’s stakeholders, whilst recognising that every decision the board makes will not necessarily result in a positive outcome for all. However, the board’s aim is to make sure that decisions are consistent and predictable. In so doing it seeks to deliver Caledonia’s purpose to grow net assets and dividends paid to shareholders over the long-term, whilst managing risk to avoid permanent loss of capital.

For further details download the Caledonia Investments Annual Report here.