BREXIT Statement

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On March 29th 2017, the UK declared its intention to withdraw from the EU, a process which has become known as Brexit. Since that result and with renewed vigour and focus following the government’s announcement in 2017, Ace Innovation Ltd has worked carefully to examine the various implications of this process and has taken a number of important steps to ensure that our business continuity planning remains robust and relevant in the face of the undoubted challenges which our exit from the Union will bring.

Working closely with the Department of International Trade (DIT) and with our own business advisers, we have undertaken a thorough risk assessment of the range of possible outcomes of Brexit. We looked carefully at the following vital business elements in the context of the various exit scenarios;

• Customer service and supply chain
• Storage and logistics in the UK and in the EU
• Costs, financial performance and the potential impact of tariffs
• Cash and financing
• Potential additional administrative burden
• Employees, status and mobility
• Innovation

Whilst we recognise that there is still significant uncertainty around the eventual deal and the impact it will have, we are confident that with our existing robust business model and the steps already taken and in preparation, the effects of Brexit will be entirely manageable and will in no way disrupt our ability to supply our customers in the UK, inside the EU or further afield.

Our proven ability to embrace change gives us confidence that working with our partners in Europe and beyond we will be able to adapt to the situation as it develops.

We will of course continue to work with all customers, supply chain partners and our advisers over the coming months to monitor developments and continue our preparations to ensure our ability to operate effectively as a supplier and business partner through the Brexit process and on into a very positive and productive future.