Contents
Vision & Mission 2
Corporate Information 3
Notice of Forty-Ninth Annual Meeting of Shareholders 4
Board of Directors 6
Biographies of Directors 8
Chairman's Review 12
Executive Management 16
Report of the Chief Executive Officer 17
Financial Overview 22
Ten-Year Comparison 22
Directors' Report 24
Corporate Report 26
Statement of Management's Responsibilities 31
Independent Auditor's Report 32
Consolidated Statement of Financial Position 38
Consolidated Statement of Comprehensive Income 39
Consolidated Statement of Changes in Equity 40
Consolidated Statement of Cash Flows 41
Notes to the Consolidated Financial Statements 42
Management Proxy Circular 91
Design and Layout: Paria Publishing Co. Ltd. Printing: The Office Authority Limited Photography of Directors: Damian Luk Pat
Vision & Mission
National Flour Mills Limited (NFM) was incorporated in 1972 and over the years has since been recognised as the leader in flour milling feed milling and dry mix operations throughout Trinidad and Tobago.
OUR VISION STATEMENT
To be the most trusted food and feed manufacturer in the region.
OUR MISSION STATEMENT
We will feed the region by:
• Meeting and exceeding global food safety standards
• Value for money offerings
• Fairness and equity in treating with our employees
GUIDING PRINCIPLES AND CORE VALUES
• Dependability
• Customer Focus
• Growth Mindset
• Integrity
• Ownership.
BUSINESS STANDARDS
It is the policy of NFM to conduct its business practices in accordance with the highest ethical standards. Bribery and corruption will not be condoned. Every effort will be made to ensure that:
• our products are produced to specifications and in conformance with the customers' requirement;
• the quality of raw materials used are fit for the purpose intended;
• customer credit terms are fair; and that
• customer complaints are treated with in a timely and courteous manner.
Corporate
Information
Directors
Mr. Nigel Romano - Chairman Mr. Ross Alexander
Ms. Sonja Voisin Ms. Karen Shaw
Mrs. Aliyah Hamel-Smith Mr. Shane Correia
Ms. Joanne Salazar Ms. Annalean Inniss
Chief Executive Officer
Mr. Ian Mitchell
Corporate Secretary
Ms. Sati Jagmohan
Registered Office
27-29 Wrightson Road Port of Spain
Telephone: (868) 625-2416/7 Fax: (868) 625-4389
Email:nfm@nfm.co.tt
Registrar and Transfer Office
The Trinidad and Tobago Central Depository Limited
10th Floor
Nicholas Towers
63-65 Independence Square Port of Spain
Telephone: (868) 625-5107-9 Fax: (868) 623-0089
Email:ttstockx@stockex.co.tt
Auditors
PricewaterhouseCoopers Victoria Avenue
Port of Spain
Principal Bankers
Scotiabank Trinidad and Tobago Limited Scotia Centre
Corner Park and Richmond Streets Port of Spain
Citibank (Trinidad and Tobago) Limited 12 Queen's Park East
Port of Spain
Republic Bank Limited
Corporate Business Centre - North Promenade Centre, 1st Floor
72 Independence Square Port of Spain
Principal Attorneys
Ashmead Ali and Company 36 Edward Street
Port of Spain
J.D Sellier & Company 121-131 Abercromby Street Port of Spain
Notice of Forty-Ninth Annual Meeting of Shareholders
NOTICE IS HEREBY GIVEN that the Forty-Ninth Annual Meeting of the Shareholders of National Flour Mills Limited (NFM) will be held on Friday 1st July 2022 at 10.00 am virtually and in the Ballroom, Hilton Trinidad and Conference Centre, Lady Young Road, Port of Spain for the following purposes:
Ordinary Business
1. To receive and adopt the accounts for the financial year ended 31 December 2021 and the Reports of the Directors and Auditors thereon;
2. To re-elect/elect Directors;
3. To re-appoint Auditors and to authorise Directors to fix their remuneration;
4. To transact any other business as may properly come before the meeting or any adjournment thereof.
Notes
1. Record Date
The Directors have fixed the 25th day of May 2022 as the Record Date for determining shareholders who are entitled to receive Notice of the Meeting, and have given notice thereof by advertisement in accordance with the Companies Act. Shareholders listed on the Register of Members as at the close of business on that date will be notified of the meeting by mail. A list of those shareholders will be available for examination by shareholders at the Registered Office of the Trinidad and Tobago Central Depository, 10th Floor, Nicholas Tower, 63-65 Independence Square, Port of Spain during normal working hours and at the Annual Meeting.
2. Proxies
A Member of the Company entitled to attend and vote at the above Meeting is entitled to appoint a proxy to attend and vote in his/her stead. Such proxy need not also be a Member of the Company. In the event that a Member of the Company wishes to appoint a proxy to vote in his/her stead, such Member is required to complete and sign the appropriate Proxy Form.
The signed Proxy Form should be deposited with the Secretary of the Company at the Company's Registered Office, 27-29 Wrightson Road, Port of Spain 48 hours in advance of the Meeting. Where a Proxy is appointed by a corporate Member, the form of Proxy should be executed under seal or signed by an Officer or Attorney duly authorised.
3. Annual Report
The Annual Report can be accessed from the Company's websitewww.nfm.co.tt.
By Order of the Board
Sati Jagmohan
Corporate Secretary
19 April 2022
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Disclaimer
National Flour Mills Ltd. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 19:02:03 UTC.