The Ninth Annual General Meeting of the Nuffield Farming Scholarships Trust Held in The

MINUTES OF THE NINTH ANNUAL GENERAL MEETING OF THE NUFFIELD FARMING SCHOLARSHIPS TRUST HELD IN THE MAJOR OAK SUITE ,

BELTON WOODS HOTEL, BELTON, LINCOLNSHIRE,

ON FRIDAY 28TH OCTOBER 2011 AT 9.15am

Welcome

The Chairman of the Trust, Jack Ward, welcomedScholars, Sponsors and guests to Lincolnshire.

Apologies for Absence

Apologies were received from eighteen members.

To stand in memory of Scholars who have died during the year

Scholars stood in memory of Oliver Worsley (1966), John Maxwell (1967), Keith Lewis (1963), Edward Hart (1962), Richard Chantler (1986) and Peter Hammond(1952)

Minutes of the Eighth Annual Meeting of the Trust held on Friday

5th November 2010

The Chairman reminded Members that the Minutes of the eighth Annual Meeting of the Trust had been published in advance of the meeting on the Nuffield Website , further copies were available to delegates at the meeting.

There were no matters arising from the Minutes that would not be covered by the agenda of the meeting.

Chris Older proposed the adoption of the minutes.Wallace Hendrie seconded.

Agreed unanimously

Chairman’s Report

The Chairman noted that his report was published in the Annual Report of the Trust and on the Nuffield website. He wished to highlight to the meeting the following points:-

Selection Review – The Trustees had changed the final date of submission of scholar’s reports to 31st July in the year after receiving their award. The Chairman congratulated 2010 Scholars on completing their reports by this new deadline.

Nominations Committee. The Chairman was pleased to report that the revised nominations process was attracting good candidates for Board positions.

New sponsors. The Trustees were pleased to welcome as new award sponsors The Worshipful Company of Farmers, The Worshipful Company of Butchers and The Border Union Agricultural Society.

The Frank Arden Memorial Award. There had been an excellent response from candidates to undertake a study into Fertilizers for the Future. The Trust was grateful to The Arden Family, The Frank Parkinson Trust and The Crown Estate for enabling two awards to be offered to Nik Johnson and Mark Tucker. A Conference to launch their reports will be held at Harper Adams on 19th April 2012.

Study Groups - representatives of Nuffield groups had met at Becketts Farm in December 2010 to discuss and contribute to the selection review.

Vice Presidents – The Trustees had reviewed the role of the President’s Committee. The Board recognised the value of an external group of critical friends and would be working to develop the membership of the Committee.

International Strategic developments – The Chairman was pleased to report that a new structure for Nuffield International had been agreed at the recent International Conference. The Trustees of the Oxford Farming Conference had invited Chairmen of the Nuffield countries to join a conference call to discuss key issues influencing global agriculture.

Nuffield Vision and Values – With support from Scholars and Sponsors, the Trustee had agreed a Vision and values for the Trust which reflected what Nuffield is all about and values that underpin the awards.“Leading positive change in agriculture; Inspiring passion and potential in people”

The Trust’s values are:

Building knowledge through global experience

Sharing brilliant ideas

Making things happen

Developing tomorrow’s leaders

Inspiring commitment

PR Strategy – The Trustees had reviewed their Public relations (PR) strategy. Key objectives would be to attract applications, enhance the dissemination of Scholars’ findings; maintain the profile of the Nuffield brand and to support the Nuffield community. The Trustees were pleased to report the appointment ofPinstone Communications as PR to the Trust.

Speaking on behalf of all the Trustees and members, the Chairman offered his thanks and appreciation to Julie Mate, retiring PR to the Trust. He recognised the immense amount of work that Julie had undertaken to develop the Nuffield brand and her significant contribution to the success of the Trust. A presentation was made to Julie Mate.

Sponsors – The Chairman offered thanks to the many Sponsors of the Trust, without their significant investment it would not be practicable to offer and manage the Nuffield awards programme.

Selection Committee –TheChairman was gratefulto the members of the Selection Committee for their work. It was a tall order to read applications, give three days to the interviews and review completed reports from returning Scholars. In particular, he offered thanks to Anne Kelaart who had retired on completion of her term as a member of the panel.

Director – The Chairman offered his thanks to the Director and his team for their support.

Trustees –The Chairman offered his thanks to his fellow Trustees. He recognised and was grateful for their patience and dedication. In particular he offered thanks to James Nelstrop who had resigned earlier in the year, together withSarah Mackie, William Goodwin and Charley Walker who were standing down on completion of their terms as Trustees.

Vice Chairman – Jack Ward thanked Stephen Watkins for his support, balance and constructive comments as Vice Chairman. He would have many positive memories of their time working together.

In conclusion, the Chairman reported that his period of office had been rewarding, stimulating and challenging, he was very grateful for being given the opportunity to lead Nuffield

To receive Accounts for 2010/11

Stephen Watkins, Chairman of the Finance Committee presented accounts for the year 2010/11 to the meeting. A summary of the consolidated financial statements for the Trust have been published on the Nuffield website prior to the meeting, additional copies were available for those attending the meeting. The Trustees were grateful to Nigel Pulling for the accounting expertise that he contributed to the Finance Committee. The Trustees regularly monitored their investments. However there were significant challenges in achieving good returns on funds invested.

The Trustees had agreed the accounts which he commended to the meeting. John Green offered his congratulations to Trustees for their management of the Trust’s finances.

Adoption of the Accounts for 2010/11 proposed by Tony Pexton, Seconded by Ian Tremain and agreed unanimously.

To appoint Independent Examiners to the Trust

The Vice Chairman, Stephen Watkins, noted that the Trustees had recommended that David Turner & Co, who had indicated their willingness to serve, proposed that David Turner and Company should be re-appointed as Independent examiners to the Trust. Seconded by Margaret Herbert. Agreed unanimously.

Election of a Chairman of the Trust to succeed Jack Ward N.Sch ARAg

The Chairman noted that the Nominations Committee had recommended that Stephen Watkins N.Sch ARAgS, who had indicated his willingness to stand, is elected to serve as Chairman of the Trust for a two year term.

Proposed by Ian Pigott and seconded by John Alvis. Agreed unanimously.

To elect a Vice Chairman of the Trust

Stephen Watkins stated that the Nominations Committee had recommended that Wallace Hendrie N.Sch, who had indicated his willingness to stand, should be elected to serve as Vice Chairman of the Trust for a two year term. Seconded by Helen Woolley . Agreed unanimously.

Signatories to the financial instruments of the Trust:

The Chairman reminded members that the Chairman, Vice Chairman and Director of the Trust were authorised signatories to the financial instruments of the Trust. He proposed that the meeting should agree that Stephen Paul Watkins, John Wallace Hendrie and the Director, John Greenhalgh Stones, should be signatories until the next change of officers. Seconded by Tony Pexton. Agreed unanimously.

To elect members to serve as Trustees of the Trust

Jack Ward noted that the Trustees hadrecommended that Helen Woolley N.Sch and Anthony (Tony) EvansN.Sch should be elected to serve as Trustees and proposed their election. Dorothy Fairburn seconded both nominations. With no further nominations, both Helen Woolley and Tony Evans were elected as Trustees to serve three year terms.

To elect a member of the Selection Committee to serve a three year term from 1st January 2012.

The Chairman reported that the Trustees had recommended that Jim Godfrey OBE should be re-elected to serve as a member of the Selection Committee for a three year term. Mr Ward stated that Jim Godfrey brought a wealth of experience and gravitas to the Selection process; he was pleased to propose his re-appointment. Steve Ward seconded the nomination. Agreed unanimously.

To receive the minutes of 2010 Selection Committee the

The Chairman presented the Minutes of the 2011 Selections. He wished to thank Anne Kelaart who was standing down at the end of her term of appointment. He welcomed Dorothy Fairburn who had completed her induction in 2011 and would take her place on the Committee in January 2011.

In total 19 awards offered for 2011 which left a number of Sponsors with unfilled awards. However, when the Selectors were not confident that candidates could meet the Nuffield standard it was right to withhold awards. Mr Ward was grateful to Sponsors for their support for this position.

To receive a report on Nuffield International

The Director reported that at the tri-ennial Nuffield international meeting the new Agreement and Code of Practice for Nuffield International had been agreed and signed. Nuffield Australia had hosted an excellent International Conference, it was agreed that the 2014 Conference would be in Eastern Canada. A proposal from Nuffield UK to host the 2017 International Conference had been accepted.

Date and place of 2012 Annual General Meeting

Agreed to meet at the Stratford Manor Hotel on Friday 23rd November 2012

Any other business

Roger Mercer addressed the meeting.

He reported that he had been impressed by his experience at therecent Nuffield International Conference in Australia and believed that there were lessons for the advancement of Nuffield in UK.

There were a number of points that he thought were positive about the International Conference; Nuffield Australia and their various programmes. He was disappointed that UK Trustees were not well represented at the conference. Mr Mercer recommended that Trustees should look at a number of issues to see if they might improve the UK experience.

1. Thecharge to Australian Sponsors for an award at Aus$50k (£32,750) is considerably more than the UK at £10k or there about. In order to widen the Nuffield experience for our scholars Roger suggested that we need more funds. This could come from increasing sponsorship, possibly combining two awards or offering bolt-ons that the Scholar could fund themselves. It might well be that some companies may be happy to associate themselves with a different level of scholarship that offered these extra opportunities.

2. The Global Focus Program is undoubtedly a wonderful opportunity andat least some UK Scholars should have access to it. There is a huge benefit not from only being exposed to different things bit also from bonding during the six week trip.

In order to fit in time wise he understood that we would have to look at the timing of the UK interview process and thedate which awards are announced. He believed that this should not be insurmountable.

3. The announcement andpresentation of a tie for new Scholars at the autumn conference dinner is an excellent idea, as was the involvement of the new Scholars’ wives that had included a briefing for them the previous day.

4. The amount of recognition and involvement the Australian Sponsors had at every opportunity was outstanding. There was real buy in by them and they felt they were getting good value. Sponsors attended many events and were well looked after and introduced to a wide variety of contacts. There was a real belief that in Australian agriculture; they were dealing with the people at the top of the industry.

5. The presentation of a Nuffield plaque after Australian Scholars had delivered their report was a nice touch that might be emulated.

6. Australian Scholars presenting their reports had twenty minutes to deliver report followed by ten minutes of questions which Roger felt was very good. However, he recognised that could be difficulties in achieving this in UK situation with so many Scholars reporting.

Mr Mercer concluded by stating that he realised that things are done in the UK for a reason and that he would not want to dismiss these or the huge effort that goes into running successfully Nuffield UK. However, he believed there are lessons to be learnt. Nuffield is one big international family and we should grasp and explore good ideas from where ever they come from if we are to move forward.

Stephen Fell endorsed Roger Mercer’s comments, he believed that Nuffield Australia had organised an outstanding Conference. It was notable that the whole event had been organised in house by Scholars themselves, without the involvement of outside agencies. He was looking forward to the next conference in Canada in 2013.

With no further business, the meeting closed.

Nuffield Farming Scholarships Trust

Minutes of Annual Meeting 28th October 2011Page 1