Directors
The Directors of the Company as at 31 December 2025 and their immediate relatives control approximately 1.17% (2024: 0.92%) of the voting shares of the Company. Details of Directors’ pay and remuneration are given in the Directors’ Remuneration report. Executive Directors are considered to be the only key management personnel. Details of compensation paid to key management personnel are included in note 6.
Subsidiaries and joint venture
Details of the joint venture and subsidiaries of the Company are set out in notes 10 and 14. These companies are considered to be related parties.
The following material transactions were carried out with related parties:
2025 | 2024 | |
|---|---|---|
Sale of goods: subsidiaries of the Company | 5,983 | 3,954 |
Sale of services: subsidiaries of the Company | 2,531 | 3,528 |
Loans repaid by subsidiaries of the Company | 5,206 | 1,795 |
Loans granted to subsidiaries of the Company | 25,014 | 3,884 |
Interest income: subsidiaries of the Company | 1,028 | 1,372 |
Sale of goods: joint venture of the Company | 2,178 | 3,514 |
Sale of services: joint venture of the Company | 423 | 558 |
Balances between the Company and its active subsidiaries and joint venture are as follows:
Receivable from/(payable to) | Investment in | ||||
|---|---|---|---|---|---|
2025 £’000 | 2024 £’000 | 2025 £’000 | 2024 £’000 | ||
Zotefoams Inc | 23,907 | 20,249 | – | – | |
Azote Asia Limited | 587 | 1,257 | – | - | |
MuCell Extrusion LLC | 109 | – | – | - | |
Zotefoams International Limited | 31,724 | 12,983 | 30,822 | 30,822 | |
Zotefoams Operations Limited | 17 | (18) | – | – | |
Zotefoams T-Fit Material Technology (Kunshan) Limited | 181 | 796 | – | – | |
Zotefoams Poland Sp. z o.o. | 2,975 | 1,828 | – | – | |
Zotefoams France SAS | (141) | (107) | – | – | |
T-FIT Insulation Solutions India Private Limited | 7 | – | – | – | |