The Directors consider what is likely to promote the success of the Company for its members in the long term in all their decision making. This section serves as our Section 172 statement.
The Board considered its key relationship to be with its Bondholders. The bondholders relate to the Senior Notes due 2022 debt which is listed on the Luxembourg Stock Exchange, this is detailed in Note 9. The Board has a clear responsibility to engage with Bondholders and provide quarterly updates on the performance of the business. During the year the Board reviewed the implications of the acquisition of Inmarsat Group Holdings Limited (formally Inmarsat plc) for the Bondholders. The Board reviewed the nature of the covenants and conditions to the redemption of all outstanding Notes and the satisfaction and discharge of the Indenture. The Board were satisfied that the Company’s obligations under the Indenture in respect of the Notes had been satisfied and the trustee was instructed to proceed accordingly with the redemption of the principal amount of the Notes.