MODERN SLAVERY STATEMENT

The Modern Slavery Act 2015 (the “Act”) came into effect on 29 October 2015 and requires those entities carrying on a business or part of a business in the United Kingdom, supplying goods or services, and having annual turnover of £36 million or more, to disclose information regarding the steps they have taken to eradicate slavery and human trafficking from their supply chain as well as within their own organisation during the previous financial year.

Loungest Limited (“Loungest”) fully supports the UK government’s objectives to eradicate modern slavery and human trafficking and publishes this Modern Slavery and Human Trafficking Statement, pursuant to section 54 of the Modern Slavery Act 2015.

Loungest is committed to good corporate citizenship and the highest ethical standards. Our approach reflects our commitment to acting ethically and with integrity in all our business relationships, helping to ensure that slavery and human trafficking is not taking place anywhere in our business. We expect all those in our supply chain to adopt a similar approach. To further fulfil these commitments, Loungest has established and maintains systems and controls to safeguard against slavery and related human trafficking in the customer service and in the supply chain of products it purchases from suppliers. Loungest does not manufacture products itself.

BUSINESS AND ORGANISATION

Loungest is a private limited company incorporated in England and Wales. Loungest is the owner of radio stations, broadcasting music works from select collective management organisations.

VALUES POLICIES AND TRAININGS

Loungest is committed to working together with partners who share its ethical values. Loungest principles are; Integrity, Customer-first, Accountability, Respect and Excellence.

Loungest’s Code of Conduct, provides important guidelines for Loungest ’s interactions with customers and other business partners, and between employees.

Loungest has policies which underpin our approach to tackling the risk of modern slavery in our working environment and business partnerships, including, but not limited to, the whistleblowing provisions set out in the Code of Conduct which encourages employees to raise concerns including potential violations of (i) the Code of Conduct; (ii) company policies; and (iii) the laws of the countries in which Loungest operates. Loungest treats all concerns in good faith.

COVID-19 PANDEMIC

We are aware that the unique and unprecedented set of challenges brought about by the Covid-19 pandemic could lead to an increase in modern slavery as businesses try to adapt to the situation. We began taking steps to manage the risks as they emerged to guard against this happening within our organisation.

As (COVID-19) keeps on spreading all through the world, we would like to accept this opportunity to detail a portion of the means Loungest has taken on a hierarchical level to guarantee our support to every one of our clients, artists and employees.

– Advanced arrangements – As an aggregate administration association, we have been intently observing COVID-19 since it’s beginning time. Accordingly, we’ve had the option to take proactive measures to help ensure the well being and security of our artists and employees, enabling us to offer continuous support to the end clients using our repertoire.

– Remote work – All of our representatives in the United Kingdom and abroad were completely prepared to work remotely from home, should the need emerge. This includes our member care department, our legal and accounting divisions. All of our employees are as of now working from home and keep on offering full assistance to all parties who need it.

– Steady observing – Loungest is centered around checking coronavirus advancements, guaranteeing that we’re ready to change our working procedures as needed. As a company, we have invested money and time to build digital platforms, automation systems for every day tasks, elements which are proving to be extremely precious during this crisis.

Loungest will continue following government guidance and especially all IPO announcements, which may affect our daily operation.

Our thoughts and prayers go out to everybody affected by the COVID-19 pandemic. We are appreciative for your trust in our company and we are focused on proceeding to give a similar high calibre of administration for whatever length of time that the circumstance proceeds. In the event that you have any inquiries or concerns, if it’s not too much trouble get in touch with us.

The safety and health of everyone is what matters most. We are continuously monitoring the situation and reviewing our existing measures in line with Government guidance. The Board of Directors has been kept up to date throughout the pandemic regarding risk levels and is actively involved in determining any adjustments that need to be made to existing measures.

GOING FORWARD

Following a review of the effectiveness of the steps we have taken in the Financial Year 2020 to ensure there is no slavery or human trafficking in our daily operation, we intend to take the following further steps to combat slavery and human trafficking:

• We will continue to work at Loungest to enhance the due diligence process.To ensure we maintain a high level of understanding of the risks of modern slavery and human trafficking in our business we will run an awareness campaign in FY21.
• We will continue to work in developing our approach to working environments in relation to Covid-19, to ensure everybody’s safety.

This Statement has been approved by the board of directors of Loungest, and the board has authorized Eleftherios Rinos, Director, to sign the Statement on behalf of Loungest.