Modern Slavery Act
Modern Slavery Statement
Year ended 31 December 2022
Venture Life Group plc (“VLG”) is committed to preventing acts of modern slavery and human trafficking from occurring within its business and supply chains and imposes the same high standards on its suppliers.
We do this by:
- continuing to take steps to find effective methods to eliminate slavery and human trafficking practices;
- ensuring that we review and communicate our policies and procedures regularly; and
- respecting human rights and ensuring, that the people who provide products and services to us are treated fairly and that their fundamental human rights are protected and respected.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 (the “Act”) and constitutes the slavery and trafficking statement for VLG plc and its subsidiaries in respect of its financial year ending 31st December 2022.
VLG is an international consumer self-care company focused on developing, manufacturing and commercialising products for the global self-care market. With operations in the UK, Italy, The Netherlands and Sweden, the Group’s product portfolio includes key products in the areas of oral care, women’s intimate healthcare, hypoglycaemia, oncology support, ear wax removal, fungal infections and proctology, and dermo-cosmetics for addressing the signs of ageing. The Group is headquartered in the UK and its products are sold in over 90 countries worldwide.
The products, which are typically recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies and grocery multiples. In the UK and The Netherlands these are primarily supplied direct by the company to retailers, elsewhere they are supplied by the Group’s international distribution partners, as well as direct to consumer selling through online channels.
The Group’s key supply chains cover the procurement of raw materials, packaging and finished components through our network of approved suppliers, including the logistics, warehousing and distribution to our partners.
To find out more about the nature of our business, please see the “about us” section of the corporate website About Us | Venture Life (venture-life.com).
OUR POLICIES IN RELATION TO SLAVERY & HUMAN TRAFFICKING
We intend to continue to govern all current and future supplier relationships with the slavery issues outlined in the Act in mind. We will not knowingly support and/or do business with any suppliers who participate in slavery or human trafficking, and we have procedures in place that reflect our commitment to ensuring modern slavery does not occur in our business or supply chains.
Our recruitment processes are in line with employment laws within our four operational locations, including “right to work” document checks, contracts of employment, and checks to ensure everyone employed is of legal working age. We offer market-related pay and rewards which are reviewed annually. We have procurement policies which address the following issues: social security, child labour, minimum employment conditions and forced labour.
We also maintain policies allow our employees to easily report any allegations of slavery or human trafficking in our business that they become aware of and reflects our commitment to acting ethically and with integrity in our business relationships stated within our Code of Conduct in the Employee Handbook.
If we learn of any allegations of slavery or human trafficking through our whistleblowing system, or any other means, we will act promptly and effectively in the best interests of the affected workers.
We have put systems in place which are designed :
- identify and assess areas of potential risk in our supply chains;
- monitor potential risk areas in our supply chains;
- mitigate the risk of slavery and human trafficking occurring in our supply chains; and
- protect whistleblowers.
VLG’s board is committed to delivering high standards of corporate governance and a key element of this is managing the Group in a socially responsible and ethical way. The Group aims to comply with all local laws and regulations applicable to our business; it follows that VLG is committed to preventing modern slavery in its corporate activities and its supply chains.
EFFECTIVE ACTION TO ADDRESS MODERN SLAVERY AND HUMAN TRAFFICKING
No instances of modern slavery and human trafficking have been identified in the last financial year.
We will continue to enhance our procedures and provide adequate resources to help us identify, prevent and mitigate any risks of modern slavery or human trafficking in relation to new and existing suppliers.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes our Group’s slavery and human trafficking statement for the financial year ending 31 December 2022. It was approved by the board on 22 May 2023.
For and on behalf of Venture Life Group PLC
Executive Chairman, Venture Life Group PLC
Date: 22 May 2023