The holding company structure shall be transparent and explained in a way that is clear and simple to understand.
The role of each of the companies that have links or interests in Yorkshire Water within the group structure shall be clearly explained, including a description of the interaction between the holding company and the regulated company. It shall be clear in which country each company is registered. In the event of a group company being dormant or non-trading this shall be clearly stated.
The holding company will provide information on debt and equity structures.
Kelda shall publish information in an accessible way to make its debt and equity structures transparent and shall explain where and why it has considered it necessary to exclude any information on the grounds for example of commercial confidentiality. This information shall also cover the capital structure of any other company with links to or interests in Yorkshire
The holding company will transparently demonstrate directors’ interests and the nature of those interests (other than where they are declared at the regulated company level).
The Company shall publish a list of all of its directors. The Company has a clear process for disclosure of the interests of those directors in other companies within the Kelda Group at each of its board meetings. Where applicable, where there are interests within Yorkshire Water they shall also be declared in the Yorkshire Water Annual Report and Financial Statements.
The Company will explain which matters that impact on Yorkshire Water are reserved to the holding company board.
Reserved matters shall be clearly explained and disclosed both in the Annual Report and Financial Statements of the Company and Yorkshire Water.
The Company will transparently demonstrate the governance standards that it applies, including how it meets these principles.
The corporate governance report in the Company’s Annual Report and Financial Statements describes how the Board of the Company and its committees discharge their duties in respect of corporate governance.
The Company shall address each of the principles set out in the Ofwat Holding Company Principles and how they have been met in its Annual Report and Financial Statements.