Companies Act 2006 s172 (1) statement

Section 172 of the Companies Act 2006 (“the Act”) requires Directors to take into consideration the interests of stakeholders in their decision-making. A director of a company must act in the way they consider, in good faith, would most likely promote the success of the company for the benefit of its members as a whole, taking into account the factors as listed in section 172 of the Companies Act 2006. This short form statement should be read in conjunction with the longer Strategic Report.

ForFarmers UK Limited is a wholly-owned subsidiary within the ForFarmers Group (ForFarmers N.V. and subsidiaries). Engagement with our shareholders and wider stakeholder groups plays a vital role throughout the ForFarmers business. This includes engagement with ForFarmers UK Limited’s employees via surveys and Town Hall engagement with directors and senior managers. There is regular feedback sought and information presented about the company’s performance, strategy, governance and procedural compliance. Employees’ opinions and suggestions are taken into account in the overall strategic direction of the company, promoting sustainability of business and talent growth within the organisation.

The performance of ForFarmers UK Limited and its subsidiaries activities are monitored periodically with executives from the ForFarmers Group (“the Executive Committee”). The Executive Committee consider the company’s activities in light of the Group’s corporate and social responsibility strategy and requests businesses to consider changing the composition of the company’s investments to align to the Group’s strategy. Long term decisions are informed and directed by the Group’s strategic plans, the most recent being “Horizon 2020” which covered the years 2015-2020. In Quarter 3 of 2020 a new 5 year strategic plan is due to be announced. This plan will form the basis of the company’s longer term strategy.

The Directors continue to provide oversight governance to ensure that they comply with the Group’s policies and maintain high standards of business conduct. The Directors provide regular updates on their activities to the Board.

The overall Code of Conduct of the Group also applies to the Directors and employees of the company in order to maintain high standards of business conduct. The Directors provide regular updates on their activities to the Executive Committee.

The company engages with its shareholder on an ad hoc basis on requests for additional capital distributions or funding. In this light the company received funding from the Rolling Credit Facility which its shareholder had arranged at a Group level.

Through its dedicated customer services function, CRM system and account manager led approach, the company fosters good, loyal and long-lasting relationships with its customers. Similarly its approach to suppliers is collaborative, secured by good business partnering and robust supply agreements.

ForFarmers UK Limited seeks to be a good corporate citizen at all locations throughout its UK footprint. This includes identifying areas of impact and where there might be scope to benefit the local area with improved environmental focus (emissions reductions for example) and job creation. The company liaises with local authorities and parish councils wherever required and works with local residents to be a good neighbour and local employer.

This statement also applies to the following companies: ForFarmers UK Holdings Limited, Agricola Group Limited, Agricola Holdings Limited, Daisy Hill Pigs (MBF) Limited and HST Feeds Limited, which are all wholly owned subsidiaries of the ForFarmers Group