{ "docId": "019dd923-5eff-723e-9be6-a0cad080dbd8", "docSlug": "9a64e7cb94465d1c", "documentTitle": "2025 Annual Report", "authorId": "HBX-Group", "authorName": "HBX Group", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.414, "pageNumber": 104, "pageCount": 212, "prevPage": 103, "nextPage": 105, "slideType": "other", "function": "summarize", "density": "overcrowded", "nDataPoints": 0, "notes": "This is a governance disclosure page from an annual report.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5eff-723e-9be6-a0cad080dbd8/104", "deckHref": "/decks/019dd923-5eff-723e-9be6-a0cad080dbd8", "deckJsonHref": "/decks/019dd923-5eff-723e-9be6-a0cad080dbd8.json", "deckAnchorHref": "/decks/019dd923-5eff-723e-9be6-a0cad080dbd8#slide-104", "components": [ { "bbox": { "h": 0.11, "w": 0.21, "x": 0.27, "y": 0.22 }, "kind": "paragraph", "text": "In the year, the Chair met with the Non-Executive Directors without executive management being present. Such meetings are useful to safeguard the independence of the Non-Executive Directors by providing them with time to discuss their views in a more private environment.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "17ddbfb0-33a0-42b0-9035-0a3fc3b3741d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.09, "w": 0.21, "x": 0.73, "y": 0.27 }, "kind": "paragraph", "text": "Directors have a statutory duty to avoid situations in which they may have interests that conflict with those of the Company unless that conflict is first authorised by the Board.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1bc45c6b-49fb-49d1-b1f8-53c2a27b455f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.21, "x": 0.27, "y": 0.43 }, "kind": "paragraph", "text": "At the start of the financial year, the Company had three significant shareholders, namely, the Canadian Pension Plan Investment Board (CPPIB), Cinven Capital Management (V) Limited (Cinven) and EQT ab.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1f502272-de75-4194-ab42-444eb98fd21b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.21, "x": 0.5, "y": 0.25 }, "kind": "paragraph", "text": "It is recognised that non-executive directorships can provide a further level of experience for executives that can benefit the Company. As such, under the HBX Board Regulations, the Executive Director may take up an appointment as a Non-Executive Director on no more than one other listed company board...", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2a515ff5-e368-49f1-b39d-563c52ef7cf5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.09, "w": 0.21, "x": 0.04, "y": 0.22 }, "kind": "paragraph", "text": "The Board has identified which Directors are considered to be independent on page 88. As of 30 September 2025, 43% of the Board (excluding the Chair) are considered Independent Non-Executive Directors.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "63f05c18-bacc-4a40-a742-22525b4e4032", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.21, "x": 0.04, "y": 0.58 }, "kind": "paragraph", "text": "The Non-Executive Directors play an important role in ensuring that no individual or group dominates the Board's decision-making and therefore it is of paramount importance that their independence is maintained.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6df24fcf-3db5-498f-885d-06029378b6f6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.21, "x": 0.04, "y": 0.4 }, "kind": "paragraph", "text": "Under the Code, the Chair, Richard Solomons is not currently classified as an Independent Non-Executive Director due to his business relationship with the Group prior to the IPO.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "91b610e7-2d99-4e38-a4c5-54f05087570b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.13, "w": 0.21, "x": 0.27, "y": 0.52 }, "kind": "paragraph", "text": "The relationship between the Company and each of these significant shareholder groups is governed by Principle 11 of the Code which provides that each significant shareholder group is entitled to nominate director(s) to the Board subject to the size of its interest in the voting rights of the Company.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c697357e-2d81-4f3f-8c6c-6a8a6e8dc811", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.42, "x": 0.04, "y": 0.14 }, "kind": "title", "text": "Independence of the Board", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "dfa2505f-45b1-4718-9ee9-3d0f09519a1e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.18, "x": 0.73, "y": 0.22 }, "kind": "title", "text": "Directors' conflicts of interest", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3517860b-b36e-4e27-8fc4-3693b6d62618", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.21, "x": 0.04, "y": 0.53 }, "kind": "title", "text": "Independent Non-Executive Directors", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4c20ce52-baae-4042-8686-1d1a5b11a2bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.5, "y": 0.22 }, "kind": "title", "text": "External Directorships", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "59395c71-eeeb-4e3f-94eb-ed96fe2c2f4d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.15, "x": 0.27, "y": 0.4 }, "kind": "title", "text": "Proprietary Directors", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "aaaa116f-0cb5-4241-8b1a-e86d1cf4fed6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.08, "x": 0.04, "y": 0.37 }, "kind": "title", "text": "The Chair", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b061ccad-ee31-4e0b-afb8-b5d8ce402ef0", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 212, "from": 4, "name": "Logic Chain", "slug": "01-logic-chain", "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis", "matchId": "c55003a6-dc9b-4ab9-ab52-0f174175edcf", "evidence": "The document provides a comprehensive overview of HBX Group, using a logic chain to guide the reader through the content.", "position": 0, "objective": "Understand HBX Group's current state and strategy", "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)", "confidence": 0.7, "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }