QCA PRINCIPLE 3 - Stakeholder Engagement

Key resources

The business plan that Eden updates and approves on an annual basis, and which is based on the business model, includes cash-flow projections and commentary which help the Board to identify the key resources required to execute the plan, as follows:

1. Cash-flow – the cash required for the period covered by the plan (usually two years)
2. Personnel – The number of people needed, with the right skills and expertise
3. Cap Ex – Any capital expenditure required (equipment, premises etc)

Key relationships

As a business, Eden is reliant on a number of key relationships:

1. Customers – Licensees, distribution partners
2. Suppliers – Raw materials, operational expenses, toll manufacturers
3. Regulatory – Regulatory consultants, legal regulatory advisors
4. Intellectual property (“IP”) – patent agents, collaboration partners
5. Research and development (“R & D”) – third party contractors, research centres
6. Advisors and consultants – industry specific commercial consultants, lawyers, Nominated Advisor, Broker

The above key relationships are identified through the Risk Management process which is undertaken by the Risk Management Team.

In addition, commercial, regulatory, R & D, AIM and IP updates are provided at each Board meeting which form the basis of discussions which help the Board to assess and identify the key relationships on which the business relies.

Stakeholder feedback

In order to obtain feedback from stakeholders, the Management regularly meets with them, where possible, in person, or holds conference calls online or by phone.

Management travels, as necessary, to ensure that the Company has a good understanding of what, if any, issues its key stakeholders have by meeting with them in person and seeing, first-hand, the work that they are doing for or on behalf of Eden.

The Company’s website, email footers and business cards all provide contact information which provide stakeholders with contact details of the relevant person at the Company that they can use, should they need to get in touch.

The Company has identified from various stakeholders that ‘nature-identical’, biological products, such as Eden’s, are being increasingly demanded by end-users. To this end, the Company has developed such products to meet this demand.