We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Helios Towers Plc | LSE:HTWS | London | Ordinary Share | GB00BJVQC708 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.20 | 1.30% | 93.80 | 93.50 | 93.90 | 94.70 | 91.80 | 91.80 | 75,863 | 15:15:53 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Communications Services, Nec | 721M | -100.1M | -0.0955 | -9.85 | 986.28M |
TIDMHTWS
RNS Number : 0777T
Helios Towers PLC
22 March 2021
Helios Towers plc
(the "Company")
2020 Annual Report and Accounts and 2021 Notice of Annual General Meeting
In accordance with Listing Rule 9.6.1R and Disclosure and Transparency Rule ("DTR") 4.1.3R, the Company announces that the following documents have been posted and/or otherwise made available to shareholders:
-- 2020 Annual Report and Accounts -- 2020 Sustainable Business Report -- 2021 Notice of Annual General Meeting -- Form of Proxy for the 2021 Annual General Meeting
The above mentioned documents (except for the Form of Proxy) are available on the Company's website at www.heliostowers.com and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism .
22 March 2021
LEI: 213800DGC7GS4XCHCU30
Identification Code: GB00BJVQC708
Enquiries: For investor enquiries investorrelations@heliostowers.com For media enquiries Edward Bridges, Stephanie Ellis FTI Consulting LLP +44 (0)20 3727 1000
Appendix
In compliance with DTR 6.3.5R, the information contained in this appendix is extracted from the 2020 Annual Report and Accounts and should be read in conjunction with the Company's 2020 Full Year Results Announcement for the year ended 31 December 2020 issued on 10 March 2021. Both documents are available at www.heliostowers.com/investors/results-reports-and-presentations/ and together constitute the material required by DTR 6.3.5R to be communicated to the media in unedited full text through a Regulatory Information Service. This material is not a substitute for reading the 2020 Annual Report and Accounts in full. Page numbers and cross references in the extracted information refer to page numbers and cross references in the 2020 Annual Report and Accounts.
1. Business principal risks
Summarised below are the key risks identified (not in order of significance) which could have a material impact on the Group.
Risk status Risk description Impacts Risk mitigation No change 1. Operational Strategic resilience Reputational * Ongoing enhancements to data security and protection Operational measures with third-party expert support; The ability of the Group to continue operations is * Additional investment in IT resource and heavily reliant on infrastructure to increase automation and workflow of third parties, the business as usual activities; proper functioning of its technology * Third-party due diligence, ongoing monitoring and platforms and the regular supplier performance reviews; capacity of its available human resources. * Alternative sources of supply are identified in Failure in any of advance to mitigate any potential disruption to the these three areas strategic supply chain; could severely affect its operational * Ongoing review and involvement of the human resources capabilities and department at an early stage in organisation design ability to deliver and development activities. on its strategic objectives. ------------------ ------------------ ----------------------------------------------------------------- No change 2. Major quality Reputational failure or breach Financial * Continued skills development and training programmes of contract for the project and operational delivery team; The Group's reputation and * Detailed and defined project scoping and life cycle profitability management through project delivery and transfer to could be damaged ongoing operations; if it fails to meet its customers' * Contract and dispute management processes in place; operational specifications, quality standards * Continuous monitoring and management of customer or delivery relationships; schedules. A substantial * Use of long-term contracting with minimal termination portion of Group rights. revenues is generated from a limited number of large customers. The loss of any of these customers would materially affect the Group's finances and growth prospects. Many of the Group's customer tower contracts contain liquidated damage provisions, which may require the Group to make unanticipated and potentially significant payments to its customers. ------------------ ------------------ ----------------------------------------------------------------- No change 3. Non-compliance Compliance with various laws Financial * Constant monitoring of potential changes to laws and and regulations Reputational regulatory requirements; such as: i) Health, safety * In-person and virtual training on health, safety and and environmental environmental matters provided to employees and laws relevant third-party contractors; ii)Anti-bribery and corruption * I S O 3 7 0 0 1 ( A n t i - B r i b e r y M ana g e m provisions e n t S y s t e m ) c e r t i fi c a t i o n retained; Non-compliance with applicable laws and * Ongoing refresh of compliance and related policies i regulations may m p l e m e n t e d i n 2018 , i n c l u d i n g s p lead to e c i fi c d e t a il s c o v e r i n g Anti-Bribery substantial fines and Corruption, Facilitation of Tax Evasion, and penalties, Anti-Money-Laundering; reputational damage and adverse effects on future * Compliance monitoring activities and periodic growth prospects. reporting requirements introduced; Sudden and frequent changes * Ongoing engagement with external lawyers, consultants in laws and , regulations, in and regulatory authorities, as necessary, to identify respect of their and assess changes in the regulatory environment; interpretation or application and enforcement, both * Third-Party Code of Conduct communicated and annual locally and certifications required of all high and medium risk internationally, third parties introduced and communicated; may require the Group to modify its existing * Third-party monitoring through supplier audits and business performance reviews. practices, incur increased costs and subject it to potential additional liabilities. ------------------ ------------------ ----------------------------------------------------------------- No change 4. Economic and Operational political Financial * Ongoing market analysis and business intelligence instability gathering activities; A slowdown in the growth of, or a * Market share growth strategy in place; reduction in demand for, wireless * Long-term contracts with blue chip MNOs; communication services could adversely * Close monitoring of any potential risks that may affect the demand affect operations;
for communication sites and tower space, and could * Business continuity and contingency plans in place to have respond to any emergency situations. a material adverse effect on the Group's financial condition and results of operations. There are significant risks related to political instability, security, ethnic, religious and regional tensions in each geography where the Group has operations. ------------------ ------------------ ----------------------------------------------------------------- No change 5. Significant Financial exchange rate * USD and EUR pegged contracts; movements Fluctuations in, * 'Natural' hedge of local currencies (revenue vs. or devaluations opex); of, local market currencies where the Group operates * Monthly review of exchange rate differences. could have a significant and negative financial impact on the Group's business, financial condition and results. Such impacts may also result from any adverse effects that these movements have on Group third-party customers and strategic suppliers. ------------------ ------------------ ----------------------------------------------------------------- No change 6. Non-compliance Operational with permit * Inventory of required licences and permits maintained requirements for each operating company; The Group may not always operate * Compliance registers maintained with any potential with the necessary non-conformities identified by relevant government required approvals authorities with a timetable for rectification; and permits for some of its tower * Periodic engagement with external lawyers and sites, advisors, and participation in industry groups; particularly in the case of tower portfolios * Active and ongoing engagement with relevant acquired from a regulatory authorities to proactively identify, third-party. assess and manage actual and potential regulation Vagueness, changes. uncertainty and changes in interpretation of regulatory requirements are frequent and often arise without warning. As a result, the Group may be subject to potential reprimands, warnings, fines and penalties for non-compliance with the relevant permitting and approval requirements. ------------------ ------------------ ----------------------------------------------------------------- No change 7. Loss of key People personnel * Talent identification and succession planning are in place for key roles; The Group's successful operational * Competitively benchmarked performance-related activities and remuneration plans; growth are closely linked to the knowledge * Staff performance and development/support plans. and experience of key members of senior management and highly skilled technical employees. The loss of any such personnel, or the failure to attract, recruit and retain equally high-calibre professionals, could adversely affect the Group's operations, financial condition and strategic growth prospects. ------------------ ------------------ ----------------------------------------------------------------- No change 8. Technology risk Strategic * Strategic long-term planning; Advances in technology that enhance the * Business intelligence; efficiency of wireless networks, and potential * Exploring alternative technologies such as solar active power; sharing of wireless spectrum, may significantly * Continuously improving our product offering to adapt reduce or negate to new wireless technologies; the need for tower-based infrastructure or * Applying for new licenses to provide active services. This infrastructure services in certain markets. could reduce the need for telecommunications operators to add more tower-based antenna equipment at certain tower sites, leading to a potential decline in tenancies, service needs and revenue streams. Examples may include spectrally efficient technologies, which could potentially relieve certain network capacity problems, or complementary voice over internet protocol access technologies that could absorb a portion of subscriber traffic from the traditional tower-based networks. ------------------ ------------------ ----------------------------------------------------------------- No change 9. Failure to Financial remain competitive * Key performance indicator ('KPI') monitoring and benchmarking against competitors; Competition in, or consolidation of, the * Total cost of ownership analysis for MNOs; telecommunications tower industry may create pricing * Fair pricing structure; pressures that materially and adversely affect * Business intelligence and review of competitors' the Group. activities; * Strong tendering team to ensure high win/retention rate; * Continuous capex investment to ensure that the Group has sufficient capacity. ------------------ ------------------ ----------------------------------------------------------------- No change 10. Failure to Strategic integrate new Financial * Pre-acquisition due diligence conducted with the lines of business Operational assistance of external advisors with specific in new markets geographic and industry expertise; Multiple risks exist with entry * Ongoing monitoring activities into new markets post-acquisition/agreement; and new lines of business. Failure to successfully * Detailed management, operations and technology manage and integration plan; integrate operations, resources and * Ongoing measurement of performance vs. plan and Group
technology could strategic objectives; have material adverse implications * Implementation of a regional CEO and support function for the Group's to governance and oversight structure. overall growth strategy, and negatively impact its financial position and corporate culture. ------------------ ------------------ ----------------------------------------------------------------- No change 11. Tax disputes Compliance Financial * Frequent interaction and transparent communication Our operations are Operational with relevant governmental authorities and based in certain Reputational representatives; countries with complex, frequently * Engagement of external legal and tax consultants to changing and advise on legislative/tax code changes and assessed bureaucratic liabilities or audits; and administratively burdensome tax * Engagement with trade associations and industry regimes. This may bodies and other international companies and lead to organisations facing similar issues; significant disputes around interpretation and * Defending against unwarranted claims; application of tax rules and may expose us to * Recruitment of Group Tax Manager, and ongoing significant recruitment of in-house tax expertise at both Group additional and Opco levels. taxation liabilities. ------------------ ------------------ ----------------------------------------------------------------- New 12. Covid-19 Financial Operational * Health and safety protocols established and In addition to the implemented; normal health and safety risks to our employees and * Business continuity plans implemented with ongoing contractors, the monitoring; ongoing impact of the C o v i d-19 p an d e * Financial modelling, scenario building and stress m i c c o u l d m testing; a t e r i a ll y an d a d v e rs e l * Continuous monitoring of the external environment; y a ff e c t the financial and operational * Increased fuel and capex purchases; performance of the Group across all its activities. * Review of contractual terms and conditions; The effects of the pandemic may also disrupt the * Review and adaptation of our control environment for achievement of the remote working. Group's strategic plans and growth objectives and place additional strain on its technology infrastructure. There is also an increased risk of litigation due to the potential effects of the pandemic on fulfilment of contractual obligations. ------------------ ------------------ ----------------------------------------------------------------- New 13. Information Financial technology failure Operational * Ongoing implementation and enhancement of security and cyber-attack Reputational and remote access processes, policies and procedures; risk We are * Regular security testing regime established, increasingly validated by independent third parties; dependent on the performance and effectiveness of * Annual staff training and awareness programme in our IT systems. place; Failure of our key systems, exposure * Security controls based on industry best practice to the increasing frameworks such as NCSC, and validated through threat of internal audit assessments; cybercrime attacks and threats, loss or theft of * Specialist security third parties engaged to assess sensitive cyber risks and mitigation plans; information, whether accidentally or * Incident management and response processes aligned to intentionally, In f or ma t i on T e c hn o l ogy In f r a s t ruc t expose the Group u r e L i b r ar y ( ' I T I L (R) ' ) b es t to operational, practice - identification, containment, eradication, strategic, recovery and lessons learned; reputational and financial risks. These risks are * New supplier risk management assessments and due increasing due diligence carried out. to greater interconnectivity, reliance on technology solutions to drive business performance, use of third parties in operational activities and continued adoption of remote working practices. Cyber-attacks are becoming more sophisticated and frequent and may compromise sensitive information of the Group, its employees, customers or other third parties. Failure to prevent unauthorised access or to update processes and IT security measures may expose the Group to potential fraud, inability to conduct its business, damage to customers as well as regulatory investigations and associated fines and penalties. ------------------ ------------------ ----------------------------------------------------------------- 2. Related party transactions
During the year, the Group companies entered into the following commercial transactions with related parties:
2020 2019 ----------------------- ----------------------- Purchase Purchase Income from of goods Income from of goods towers US$m US$m towers US$m US$m ------------------------------------------ ------------ --------- ------------ --------- Millicom Holding B.V. and subsidiaries(1) 72.2 - 70.4 - Ecost Building Management Pty - - - 1.4 Vulatel (Pty) Ltd - - 0.2 0.3 Nepic Pty - 0.2 0.3 - ------------------------------------------ ------------ --------- ------------ --------- Total 72.2 0.2 70.9 1.7 ------------------------------------------ ------------ --------- ------------ --------- 2020 2019 ------------------ ------------------ Amount Amount Amount Amount owed by owed to owed by owed to US$m US$m US$m US$m ------------------------------------------ -------- -------- -------- --------
Millicom Holding B.V. and subsidiaries(1) 37.1 - 22.9 - Vulatel (Pty) Ltd(2) - - 0.2 - Nepic Pty(2) - - 0.3 0.1 SA Towers Proprietary Limited(2) - - - 1.5 ------------------------------------------ -------- -------- -------- -------- Total 37.1 - 23.4 1.6 ------------------------------------------ -------- -------- -------- -------- (1) Millicom Holding B.V is a shareholder of Helios Towers plc.
(2) No longer classified as related parties as of November 2020. See Note 13 for further details.
The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or received. Based on the ECL model, no provisions have been made for loss allowances in respect of the amounts owed by related parties.
Amounts receivable from the related parties related to other Group companies are short term and carry interest varying from 0% to 15% per annum charged on the outstanding trade and other receivable balances (Note 15).
3. Statement of Directors' Responsibilities
The Directors are responsible for preparing the Annual Report and Financial Statements, and the Group's Financial Statements, in accordance with applicable United Kingdom law and those applicable accounting standards.
The Directors have elected to prepare the Company Financial Statements in accordance with United Kingdom Generally Accepted Accounting Practice ('UK GAAP'), which is the United Kingdom Accounting Standards and applicable law, including the Financial Reporting Standard Applicable in the UK and Republic of Ireland ('FRS 102').
The Directors are required to prepare Financial Statements for each financial year which present a true and fair view of the financial position of the Company and of the Group, and of the financial performance and cash flows of the Group. In preparing those Financial Statements, the Directors are required to:
-- select suitable accounting policies in accordance with IAS 8 ('Accounting policies, changes in accounting estimates and errors') and FRS 102 then apply them consistently;
-- present information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information;
-- provide additional disclosures when compliance with the specific requirements in IFRS for Group and FRS 102 for Company is insufficient to enable users to understand the impact of particular transactions, other events and conditions on the Company and of the Group's financial position and financial performance;
-- state that the Company has complied with FRS 102 and the Group has complied with IFRS, subject to any material departures disclosed and explained in the Financial Statements; and
-- prepare the accounts on a going concern basis unless, having assessed the ability of the Company and the Group to continue as a going concern, management either intends to liquidate the entity or to cease trading, or have no realistic alternative but to do so.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and of the Group, and which enable them to ensure that the Financial Statements comply with the Companies Act 2006 and Article 4 of the IAS Regulation. They are also responsible for safeguarding the assets of the Company and the Group, and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
Under applicable UK law and regulations, the Directors are responsible for the preparation of a Directors' report, Directors' remuneration report and corporate Governance Report that comply with that law and regulations. In addition, the Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the UK governing the preparation and
dissemination of Financial Statements may differ from legislation in other jurisdictions.
Neither the Company nor the Directors accept any liability to any person in relation to the Annual Report and Financial Statements except to the extent that such liability could arise under English law. Accordingly, any liability to a person who has demonstrated reliance on any untrue or misleading statement or omission shall be determined in accordance with section 90A a nd s c h e d u le 10A of t he F i n a n c i al Services
and Markets Act 2000.
Directors' responsibility statement under the UK Corporate Governance Code:
In accordance with Provision 27 of the 2018 UK C o r po r a te Go v e r n a n ce C od e, the Directors consider that the Annual Report and Financial Statements, taken as a whole, is fair, balanced and understandable and provides information to enable shareholders to assess the Company's performance, business model and strategy.
Responsibility statement of the Directors in respect of the Annual Report and Financial Statements Each of the Directors whose names are listed on pages 72-74 confirm that to t he b e st of t h e ir k n o w l e dg e:
a) the Group Financial Statements, prepared in accordance with International Financial Reporting Standards as adopted by the European Union, and the Company Financial Statements prepared u n d er F RS 102, g i ve a t r ue a nd f a ir view of the assets, liabilities, financial position and profit and loss of the Group and Company and the undertakings included in the consolidation taken as a whole; and
b) the management report (encompassed within the Overview, Strategic Report, and Governance sections) includes a fair review of the development and performance of the business, and the position of the Group and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
The Strategic Report and the Statement of Directors' Responsibilities were approved by the Board and signed on its behalf by the Chief Executive Officer.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
NOAZZGZFDZGGMZM
(END) Dow Jones Newswires
March 22, 2021 10:23 ET (14:23 GMT)
1 Year Helios Towers Chart |
1 Month Helios Towers Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions