25. Related party
The following is a list of the Company’s subsidiaries as at March 31, 2018:
|
Direct subsidiaries |
Step subsidiaries |
Place of incorporation |
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|
WNS Global Services Netherlands Cooperatief U.A. |
The Netherlands |
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|
WNS Global Services Philippines Inc. |
Philippines |
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|
WNS Global Services (Romania) S.R.L. |
Romania |
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|
WNS North America Inc. |
Delaware, USA |
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|
WNS Business Consulting Services Private Limited |
India |
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|
WNS Global Services Inc. |
Delaware, USA |
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WNS BPO Services Costa Rica, S.R.L |
Costa Rica |
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|
Denali Sourcing Services Inc. (1) |
Delaware, USA |
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WNS Assistance Limited (previously WNS Workflow Technologies Limited) |
United Kingdom |
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|
WNS Assistance (Legal) Limited (5) |
United Kingdom |
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|
Accidents Happen Assistance Limited |
United Kingdom |
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WNS Legal Assistance LLP (6) |
United Kingdom |
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|
WNS (Mauritius) Limited |
Mauritius |
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WNS Capital Investment Limited |
Mauritius |
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|
- WNS Customer Solutions (Singapore) Private Limited |
Singapore |
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-WNS Global Services (Australia) Pty Ltd |
Australia |
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- WNS New Zealand Limited (7) |
New Zealand |
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|
-Business Applications Associates Beijing Ltd |
China |
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|
WNS Global Services Private Limited (8) |
India |
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|
- WNS Global Services (UK) Limited (2) |
United Kingdom |
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|
- WNS Global Services SA (Pty) Limited |
South Africa |
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|
- WNS B-BBEE Staff Share Trust (3) |
South Africa |
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|
- Ucademy (Pty) Limited (4) |
South Africa |
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|
- MTS HealthHelp Inc. (9) |
Delaware, USA |
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|
- HealthHelp Holdings LLC (9) |
Delaware, USA |
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- HealthHelp LLC (9) |
Delaware, USA |
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|
- Value Edge Inc. (10) |
Delaware, USA |
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|
- Value Edge AG. (10) |
Switzerland |
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|
- Value Edge GmbH (10) |
Germany |
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|
WNS Global Services (Private) Limited |
Sri Lanka |
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|
WNS Global Services (Dalian) Co. Ltd. |
China |
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Notes:
| (1) | On January 20, 2017, the Company acquired all outstanding equity shares of Denali Sourcing Services Inc. |
| (2) | WNS Global Services (UK) is jointly held by WNS Global Services Private Limited and WNS Holdings Limited. The percentage of holding of WNS Global Services Private Limited is 50.7% and of WNS Holdings Limited is 49.3%. |
| (3) | The WNS B-BBEE Staff Share Trust (the “trust”) was registered on April 26, 2017 in relation to the grant of share appreciation rights by WNS Global Services SA (Pty) Limited. The trust holds 10% of the equity capital of WNS Global Services SA (Pty) Limited and the balance 90% is held by WNS Global Services (UK) Limited. |
| (4) | Ucademy (Pty) Limited has been incorporated as a subsidiary of WNS Global Services SA (Pty) Limited with effect from June 20, 2016. |
| (5) | WNS Assistance (Legal) Limited, a wholly owned subsidiary of WNS Assistance Limited, was incorporated on April 20, 2016. |
| (6) | WNS Legal Assistance LLP is a limited liability partnership, organized under the laws of England and Wales in November 2014. WNS Legal Assistance LLP provides legal services in relation to personal injury claims within the Auto Claims BPM (as defined in Note 26) segment in the UK. During the year ended March 31, 2018, the Company acquired 20% of the equity capital of WNS Legal Assistance LLP from Prettys Solicitors (the non-controlling interest in WNS Legal Assistance LLP) as a consequence of which, WNS Legal Assistance LLP has become a wholly owned subsidiary of WNS Assistance Limited. As at March 31, 2018, WNS Legal Assistance LLP is 98.75% owned by WNS Assistance Limited and 1.25% owned by WNS Assistance (Legal) Limited. |
| (7) | WNS New Zealand Limited, a wholly owned subsidiary of WNS Global Services (Australia) Pty Ltd, was incorporated on June 13, 2017. |
| (8) | WNS Global Services Private Limited is held jointly by WNS (Mauritius) Limited and WNS Customer Solutions (Singapore) Private Limited. The percentage of holding of WNS (Mauritius) Limited is 80% and of WNS Customer Solutions (Singapore) Private Limited is 20%. |
| (9) | On March 15, 2017, the Company acquired all ownership interests of MTS HealthHelp Inc. and its subsidiaries, which existed on that date. HealthHelp Holdings LLC is 63.7% owned by MTS HealthHelp Inc. and 36.3% owned by WNS North America Inc. |
| (10) | On June 14, 2016, the Company acquired all outstanding equity shares of Value Edge Research Services Private Limited. As part of the acquisition, the Company also acquired the three subsidiaries of Value Edge Research Services Private Limited, which existed on that date. Value Edge Research Services Private Limited was merged with and into WNS Global Services Private Limited pursuant to a Scheme of Amalgamation approved by the National Company Law Tribunal on July 27, 2017. |
|
Name of the related party |
Relationship |
|
|
Acumentor Inc. (w.e.f. April 1, 2014) |
An entity of which a member of key management is the sole proprietor |
|
|
Razmatazz Events |
An entity which a close relative of the member of key management owns and controls |
|
|
Surface Architectural Supply Inc. (w.e.f. September 1, 2014) |
An entity in which a member of key management has a controlling stake |
|
|
J F Fitness of North America (w.e.f. September 1, 2014) |
An entity in which a member of key management has a controlling stake |
|
|
Sheron LLC (w.e.f. April 1, 2014) |
An entity which a member of key management and his close relative jointly own and control |
|
|
JF Manufacturing LLC ( w.e.f. May 22, 2017) |
An entity in which a member of key management has a controlling stake |
|
|
Haviland Digital Limited (w.e.f. July 1, 2017) |
An entity in which a member of key management has a sole controlling stake |
|
|
Mission Control Productions Limited (w.e.f. July 1, 2017) |
An entity in which a member of key management has a controlling stake |
|
|
Mirabilis Technology Services Limited (w.e.f. July 1, 2017) |
An entity in which a member of key management has a controlling stake |
|
|
Haviland Digital Co-Productions Limited (w.e.f. July 1, 2017) |
An entity in which a member of key management has a sole controlling stake |
|
|
35 Yard Development (w.e.f July 1, 2017) |
An entity in which a member of key management has a joint controlling stake |
|
|
Vitality Risk LLC (w.e.f. October 27, 2017) |
An entity in which a member of key management has a sole controlling stake |
|
|
Key management personnel |
||
|
Adrian T. Dillon |
Chairman (Appointed as Chairman effective January 1, 2014, was Non-Executive Vice Chairman until December 31, 2013) |
|
|
Keshav R. Murugesh |
Director and Group Chief Executive Officer | |
|
Jeremy Young (Ceased to be director from September 29, 2015) |
Director | |
|
Renu S. Karnad |
Director | |
|
Anthony A. Greener (Ceased to be director from September 27, 2016) |
Director | |
|
Albert Aboody (Ceased to be director from September 27, 2017) |
Director | |
|
Swaminathan Rajamani |
Chief People Officer | |
|
Ronald Gillette |
Chief Operating Officer | |
|
Sanjay Puria |
Group Chief Financial Officer | |
|
Gareth Williams |
Director | |
|
Michael Menezes |
Director | |
|
John Freeland (Appointed on September 1, 2014) |
Director | |
|
Francoise Gri (Appointed on May 6, 2015) |
Director | |
|
Keith Haviland (Appointed on July 1, 2017) |
Director | |
|
Mario Vitale (Appointed on October 27, 2017) |
Director | |
| Year ended March 31, | ||||||||||||
|
Nature of transaction with related parties |
2018 | 2017 | 2016 | |||||||||
|
Key management personnel* |
||||||||||||
|
Remuneration and short-term benefits |
6,614 | 4,592 | 4,671 | |||||||||
|
Defined contribution plan |
94 | 89 | 84 | |||||||||
|
Other benefits |
17 | 15 | 14 | |||||||||
|
Share-based compensation expense |
17,677 | 13,347 | 8,674 | |||||||||
| * | Defined benefit plan is not disclosed as these are determined for the Company as a whole. |