Subsidiary Governance

Structure, Reporting & Regional Autonomy

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Charge Holdings Ltd ("HoldCo") is the strategic and governance centre of the Group. Subsidiaries operate within a structured governance framework that ensures alignment, compliance, and controlled autonomy across all regions.

5.1 Subsidiaries Covered

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The following companies operate under this governance model:

Charge Automotive Ltd (UK)
TVR Automotive Ltd (UK)
Charge Cars Inc (US)
Charge Cars UAE FTZ (UAE)
Lab364 Ltd (UK)
Any future subsidiaries, SPVs, joint ventures, or holding entities </aside>

5.2 Governance Model for Subsidiaries

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Formal Board + Controlled Operational Autonomy

Subsidiaries execute but HoldCo governs:

Strategy flows from HoldCo
Risk oversight flows to HoldCo
Reporting flows from subsidiaries to HoldCo
Financial, engineering, and brand controls are centralised </aside>

Formal Subsidiary Board (statutory requirement only)

Meets as required by law
Approves statutory filings, accounts, and legal obligations
Reflects corporate formalities but does not set independent strategy

5.3 Responsibilities of Subsidiary Boards

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They MUST:

Ensure legal compliance
Maintain statutory records
Approve local accounts
Approve local banking
Cooperate with audits </aside>

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They do NOT:

Set strategy
Approve corporate budgets
Commit to major contracts
Alter engineering programmes
Hire executives without HoldCo </aside>

5.4 Responsibilities of Subsidiary Management

Subsidiary managers must:

Execute HoldCo strategy
Manage local operations, engineering, production, or sales