Page 23 - Beeks Financial Cloud Group Annual Report 2021

Beeks Financial Cloud Group PLC
Strategic Report - Principal Risks and Uncertainties For the year ended 30 June 2021

Key Impact Key Decision Made Key Stakeholder
Group’s impacted

Long term Strategy Each year, the Board approves the budget of the Group and Shareholders,
and Acquisitions reviews the Group’s strategy and growth plans. The Board Employees,
considers mergers and acquisitions as part of the long term growth Customers,
strategy and continually reviews the market for opportunities. Suppliers STRATEGIC REPORT

During the year, the board reviewed the strategy and launch
timelines of the new proximity cloud offering and its potential
opportunities to both existing and new customers.

Performance On a monthly basis, the Board reviews the trading performance Shareholders,
of the Group of the Group with detailed Board reports provided by the Employees,
including financial CFO covering trading in the month and year to date, with Customers,
performance performance monitored against internal budget, external market Suppliers,
forecast and the previous financial year. Environment

At each Board meeting, the Board also receives detailed Board
reports covering commercial, operational and HR matters
prepared by senior managers of the business. These reports cover
sales and forecast pipeline, customers and suppliers, data centre
activity and various aspects of operational performance and key
employee activities.

During the year the Board continually assessed the performance
of the analytics business against the second year earn out target.
The board review the impact on the revaluation of the contingent
consideration and the resultant release to the profit and loss.
The board also considered, as a direct result, that this a potential
impairment indicator for the goodwill attributed to the acquisition.

The Board reviews the dividend policy and approves the interim
and annual dividends taking into account the results and
financial position of the Group, including the impact of Covid-19.
The Board discussed the dividend policy during the year, taking
cogniscence of the Group’s growth plans and investment. The
Board considered the current dividend policy as being subject to
change if this was welcomed by shareholders.

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