Annual Meeting of Members 2022

Annual Meeting of Members 2022

Back together again

This year we were finally able to meet face to face with Members at our Annual Meeting of Members (AMM) after two years of Covid-19 restrictions.

Having held our previous AMMs virtually, we wanted to make sure Members who were unable to attend the physical meeting could still get involved and we’re proud to say our first ever ‘hybrid’ event was a huge success.

The AMM was held at the Radisson Blu Hotel on Wednesday 18 May at the earlier time of 6:30pm and we welcomed a total of 101 Members both at the venue and online.

President’s welcome

  • A special thanks was given to our 1,118 colleagues for their hard work and dedication throughout the challenges of Covid-19
  • Our local charity and community groups were supposed by £312,000 in donations
  • Local suppliers were supported with £9.9m spent last year
  • Online grocery continues to grow in both breadth and depth of range, including now the ability to choose delivery slots

Chief Executive Officer’s report

  • We continued to make a real difference to the communities we serve through:
  • Support for the elderly
  • Provision of school breakfasts
  • Donating to our islands food banks
  • Nurturing our environment
  • Engaging with members on topics such as:
    o Sustainability
    o Community funding
    o Online shopping
    o Our stores
    o Member benefits

Property updates

  • Refurbishment of Locale Beaumont
  • New store En Route Trinity opened in August 2021
  • New store Coop Five oaks opened in April 2022
  • Plans submitted in April 2022 for Leales yard in Guernsey which includes 390 units of accommodation, food and commercial retail units and over 300 parking spaces

Financial report

  • Our auditors Grant Thornton Limited (CI) have given our finances a clean bill of health, issuing an unqualified audit opinion
  • Our accounts show a true a fair view of our affairs and have been prepared in accordance with UK accounting standards

Click here to view our financial highlights 

Formal matters

1. To confirm the Minutes of the Annual Meeting of Members held on 8 June 2021.
Result: Motion carried

2. To receive the Board of Directors’ Report for the 52-week period ended 9 January 2022.
Result: Motion carried

3. To receive the audited Financial Statements for the 52-week period ended 9 January 2022.
Result: Motion carried

4. To declare the Dividend in respect of the 52-week period ended 9 January 2022.
Result: Motion carried

5. To elect one Jersey Member to the Board of Directors.
Result: Jennifer Bridge was elected as Director for a term of three years

6. To confirm the appointment of Grant Thornton as the Society’s Auditor from the conclusion of the Meeting until the conclusion of the next Annual Meeting of Members; and
Result: Motion carried

7. To authorise the Board to fix Grant Thornton’s remuneration
Result: Motion carried

8. Any other business: To approve that the six posts on the board of the Coop, which are reserved for member-elected directors, should always be filled, and that where a casual vacancy should occur, action should be taken by the board to advertise that vacancy and fill that seat as expeditiously as possible.
Result: Motion carried