Shareholders connect at AGM

Robust kōrero between shareholders and Ātihau-Whanganui Incorporation governance and management teams at the Annual General Meeting was welcomed as a sign of engagement and connection.

“The Committee of Management always welcomes the opportunity to talk face to face with shareholders,” says Chair Mavis Mullins. “It is very important that they are able to have any concerns or observations heard and that we are able to respond.”

“The discussions at the AGM about the AWHI brand, business planning and financial report were all very valuable and show that people are engaged and interested in what we are doing. We take these points seriously and they have formed part of our internal reviews and revision of our ongoing strategy.”

The hui was held at Whanganui Racecourse with around 600 people attending – a real feat given a year of restrictions due to the COVID-19 pandemic response.

Shareholders were given a summary update of the year and Mavis was keen to recognise the manaatikanga shown across te ao Māori in response to the threat the global pandemic presented.

She also outlined some governance changes, saying; “We have implemented a Farm and Environment Sub-Committee, confirming our attention to on farm management and environmental impacts. This is in line with our kaupapa that Productivity and Tikanga should lead hand in hand.

Rawiri Tinirau and Che Wilson were re-elected to the Committee of Management.

Andrew Beijemen, CEO, reported that the Incorporation’s total revenue for the 2019/2020 financial year was $27.2m, a favourable increase on last year (FY18/19 $24.0m), with a net surplus (before finance cost and non-operating valuations) increased to $7.4m from the FY18/19 figure of $3.2m.

“It was good to be able to report a profit for the business after such a challenging year,” he says. “I want to acknowledge our kaimahi and management team who never disappoint in their ability to bring determination and dedication to their mahi, and the role they played in being able to post this result,” he says.

Andrew also gave shareholders a brief overview of the current season, saying that managing the uncertainty the pandemic created in both domestic and overseas markets was a priority.

“We have taken a conservative approach to our budget forecast and spending intentions for the 21/22 season, and continue to monitor the situation closely,” he says. “We are facing challenges, such as a current over-supply in the honey market, but are working on building relationships and partnerships to manage the risk this presents to the business.

The Te Āti Hau Trust annual report was also presented at the AGM, with Trust Chair Shar Amner saying: “The Trust is guided by our principles of Mātauranga (education), Kotahitanga (unity of purpose), Manaakitanga (nurture and reciprocate), Whanaungatanga (collaboration), Rangatiratanga (leadership), Wairuatanga (spirituality), Mana Whenua (responsibility to the land and the people), Kaitiakitanga (active stewardship), Mana Tupuna (legitimacy) and Te Reo (identity) and the Board works hard to ensure they are at the core of all decisions we make.”