Modern Slavery Policy

VerseOne does not currently meet the threshold for requiring a Modern Slavery Policy. However, as a responsible company fully supportive of this crucial initiative, we have published and adhere to our Modern Slavery Policy below.

As a company, VerseOne maintains relationships with many different organisations in its supply chain, as well as directly employing large numbers of people. VerseOne has a zero-tolerance approach to modern slavery both within the company and within its supply chain. We have reviewed our existing compliance and risk management processes following the introduction of the Modern Slavery Act 2015 to determine to what extent measures already exist, and what further measures may be required to prevent slavery and human trafficking taking place in any part of our businesses or in our supply chains.

Our Code of Conduct states that VerseOne respects fundamental human rights and is committed to the principles set out in the United Nations Universal Declaration of Human Rights. We support and respect the protection of human rights within our sphere of influence; in particular the effective elimination of compulsory labour and child labour.

The Code of Conduct governs all our business dealings and the conduct of all persons or organisations with whom we contract directly or who we appoint to act on our behalf.

This Code of Conduct applies to all VerseOne operations and employees. VerseOne expects equivalent standards of conduct from all persons acting on its behalf, such as suppliers and partners.

We are committed to opposing modern slavery in all its forms and preventing it by whatever means we can. We demand the same attitude of all who work for us and expect it of all with whom we have business dealings. Our attitude to modern slavery is: zero tolerance.

Purpose of this Policy

Modern slavery is a criminal offence under the Modern Slavery Act 2015 (the “Act”). Modern slavery can occur in various forms, including servitude, forced or compulsory labour and human trafficking, all of which have in common the deprivation of a person's liberty by another in order to exploit them for personal or commercial gain. This document sets out the policy of VerseOne (the “company”) with the aim of the prevention of opportunities for modern slavery to occur within its businesses or supply chain. This policy's use of the term “modern slavery” has the meaning given in the Act.

We have a zero-tolerance approach to modern slavery. We are committed to acting ethically and with integrity in all our business dealings and relationships and to implementing and enforcing effective systems and controls to ensure modern slavery is not taking place anywhere in our own businesses or those of our suppliers.

Steps for the prevention of Modern Slavery

We are committed to ensuring there is transparency in our own business and in our approach to tackling modern slavery throughout our supply chains. We expect the same high standards from all of our contractors, suppliers and other business partners.

Whilst recognising the steps we have taken to ensure that modern slavery and human trafficking is not taking place in our supply chains, we acknowledge that we do not control the conduct of individuals and organisations in our supply chains. To underpin our compliance with practical steps, we intend to implement the following measures:

• continue to develop software, implement solutions and support both product and software with staff employed by the company and based in the UK.
• conduct risk assessments to determine which parts of our business and which of our suppliers are most at risk of modern slavery so that efforts can be focused on those areas;
• introduce supplier pre-screening (for example as part of our tender process) and self-reporting for our suppliers on safeguarding controls.

Responsibility For The Policy

Ultimate responsibility for the prevention of modern slavery rests with the company's leadership. The Board of Directors of VerseOne has overall responsibility for ensuring this policy and its implementation complies with our legal and ethical obligations.

Managers at all levels are responsible for ensuring those reporting to them:

• understand and comply with this policy; and
• are given adequate regular training on it and the issue of modern slavery.

Actions to report Modern Slavery or Human Trafficking

Internal Employees are encouraged to raise any concerns about suspected modern slavery associated with the company or our suppliers and should do this either through their line manager.

External Members of the public or people not employed by the company to write, in confidence, to the HR Department (via e-mail: legal@verseone.com) to raise any concern, issue or suspicion of modern slavery in any part of our business or related supply chain.

We aim to encourage openness and will support anyone who raises genuine concerns in good faith under this policy, even if they turn out to be mistaken. We are committed to ensuring no one suffers any detrimental treatment as a result of reporting in good faith their suspicion that modern slavery of whatever form is or may be taking place in any part of our own business or in any of our supply chains.

Detrimental treatment includes dismissal, disciplinary action, threats or other unfavourable treatment connected with raising a concern.

The company will accept and take seriously concerns communicated anonymously.

However, retention of anonymity does render investigations and validation more difficult and can make the process less effective.

Individuals are therefore encouraged to put their names to allegations.

Breaches of this Policy

If an issue is identified with a supplier we will work with them to prepare a corrective action plan and resolve all violations within an agreed upon time period.

We reserve the right terminate our relationship with individuals and organisations in our supply chain if they breach this policy.

Communication and Awareness of this Policy

Our zero-tolerance approach to modern slavery must be communicated to all suppliers, contractors and business partners at the outset of our business relationship with them and reinforced as appropriate thereafter.

Review

In line with the company's ISO9001 quality standards we commit to undertaking a formal review of this policy annually or more frequently as legislative or other relevant considerations dictate.