XXXX DIRECTORS’ REPORT
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2021
to customers and suppliers in the health and wellness industry. The majority of customers are also shareholder/ members of the co-operative. Irrespective of the numbers of shares held, each shareholder/member has one vote on the matters that are reserved for shareholders. A suite of services are offered to the shareholder/ member and are referred to as the MVP (member value proposition). MVP services include: an experienced national buying & category management team: centrally negotiating on behalf of all member/shareholders to deliver the best possible pricing with maximum flexibility of purchase a national distribution centre (DC) staffed with a dedicated warehousing team offering products from over 200 suppliers across approximately 5,000 SKUs providing a centralised one-payment service on favourable terms to member/shareholders on the DC products supplied access to private-label products and other exclusive ranges to the health food channel support from an experienced multi-channel marketing team to drive customer awareness of the brand nationally and to support local marketing efforts an e-commerce solution that broadens Go Vita’s brand awareness and customer base and shares profits with the member/shareholders retail advice as well as liaison with member organisations like the National Retail Association, the BCCM (Business Council of Co-Ops and Mutuals) and Complementary Medicines Association on a range of matters including legislative changes that affect the cooperative’s and members’ businesses access to a communications and training platforms to share knowledge and information; including conference, the weekly newsletter and a now a dedicated app to support further training for instore teams.
Directors’ Interests The relevant interest of each Director in the shares of the Company are: Member Shares Clinton Hayes - Harilaos Karabalis 200 John Bylicki 200 Alison Harris 2,000 Simon Becher 200 Patricia Ridsdale - Robert Peterson - Share options No options over issued shares or interests in the Company were granted during or since the end of the financial year and there were no options outstanding at the date of this report. Dividends and trading rebates There were no dividends paid to shareholders during the financial year. There was no trading rebate paid during the financial year. (2021 was $198,587). Committee Membership As at the date of this report, the Group has an Audit and Risk Committee and a Sustainability Committee. Directors on the Audit & Risk Committee during the financial year were: John Bylicki (Chair), Harilaos Karabalis, Patricia Ridsdale and Christopher Mobbs (Chris is a Go Vita Member but not a Director of the Company). Directors on the Sustainability Committee during the financial year were: Simon Becher (Chair), Alison Harris and Robert Peterson. Principal Activities During the year, the principal activities of entities within the GVGL group were to offer to supply products and services
GO VITA GROUP LIMITED ANNUAL REPORT 2021-2022 I 33
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